Free tool · Market statistics
Dow Jones (US30) volatility by hour, day and month
When Dow Jones (US30) moves, how much, and on which days — measured on 1507 trading days of real one-minute data from our broker feed, 2021-01-04 to 2026-10-30. Descriptive statistics of the past, not a forecast.
Volatility by hour
Over the last 12 months, the hour with the widest average range on Dow Jones (US30) was 14:00–15:00 UTC (56.2 bp), and the quietest was 04:00–05:00 UTC (8.8 bp): 6.4 times smaller.
Average range of each one-hour bar, in basis points of price. Hours without prices in our feed are not drawn.
Table: range by hour, UTC, last 12 months
| Hour (UTC) | Mean, bp | Median, bp | Hours measured |
|---|---|---|---|
| 00:00 | 13.3 | 11.5 | 89 |
| 01:00 | 14.0 | 11.1 | 89 |
| 02:00 | 10.5 | 8.8 | 89 |
| 03:00 | 10.1 | 8.2 | 87 |
| 04:00 | 8.8 | 7.1 | 87 |
| 05:00 | 9.4 | 8.0 | 87 |
| 06:00 | 10.9 | 8.8 | 87 |
| 07:00 | 12.0 | 9.7 | 87 |
| 08:00 | 17.7 | 15.5 | 87 |
| 09:00 | 17.5 | 15.4 | 87 |
| 10:00 | 14.0 | 10.7 | 87 |
| 11:00 | 16.1 | 12.3 | 87 |
| 12:00 | 18.5 | 16.0 | 87 |
| 13:00 | 22.1 | 19.5 | 87 |
| 14:00 | 56.2 | 51.3 | 88 |
| 15:00 | 48.2 | 41.0 | 88 |
| 16:00 | 38.7 | 33.8 | 88 |
| 17:00 | 32.0 | 28.6 | 88 |
| 18:00 | 30.3 | 23.8 | 85 |
| 19:00 | 30.2 | 25.2 | 83 |
| 20:00 | 29.9 | 26.4 | 83 |
| 21:00 | 14.7 | 12.3 | 83 |
| 23:00 | 13.6 | 12.0 | 89 |
Day of the week
Thursday has the widest average daily range (1.38%), Monday the narrowest (1.21%). Only Monday shows an average open-to-close return that is distinguishable from zero at 95% confidence (marked •). Even then it is one measurement over a few years: check the year-by-year table before reading anything into it.
| Day | Average range | Open → close, mean ± 95% CI | Up days | Days |
|---|---|---|---|---|
| Monday | 1.21 % | +0.140 % ± 0.086 • | 58.7 % | 300 |
| Tuesday | 1.29 % | −0.020 % ± 0.091 | 48.0 % | 304 |
| Wednesday | 1.31 % | +0.046 % ± 0.112 | 52.0 % | 302 |
| Thursday | 1.38 % | +0.019 % ± 0.101 | 52.6 % | 302 |
| Friday | 1.37 % | +0.034 % ± 0.115 | 54.2 % | 299 |
Average open → close return, year by year (%)
| Year | Mon | Tue | Wed | Thu | Fri |
|---|---|---|---|---|---|
| 2021 | +0.096 | −0.091 | +0.071 | +0.173 | +0.037 |
| 2022 | +0.031 | +0.035 | +0.121 | −0.158 | −0.040 |
| 2023 | +0.202 | −0.071 | −0.081 | +0.046 | +0.210 |
| 2024 | −0.030 | −0.079 | +0.043 | +0.128 | +0.112 |
| 2025 | +0.233 | +0.017 | +0.221 | −0.119 | −0.089 |
| 2026 | +0.342 | +0.089 | −0.132 | +0.045 | −0.045 |
Monthly seasonality
Return of each calendar month, from the first open to the last close. With only 6 years per month, one unusual year moves the average a lot: the median and the year-by-year table are there to show it.
| Month | Mean | Median | Positive | Years |
|---|---|---|---|---|
| January | +0.53 % | +1.36 % | 67 % | 6 |
| February | −0.37 % | −0.24 % | 50 % | 6 |
| March | +0.80 % | +2.11 % | 67 % | 6 |
| April | −0.12 % | −0.24 % | 50 % | 6 |
| May | +1.02 % | +1.97 % | 67 % | 6 |
| June | +1.03 % | +1.87 % | 83 % | 6 |
| July | +2.77 % | +2.29 % | 100 % | 6 |
| August | +0.13 % | +1.09 % | 67 % | 6 |
| September | −2.94 % | −3.83 % | 33 % | 6 |
| October | +3.48 % | +2.07 % | 67 % | 6 |
| November | +3.58 % | +5.58 % | 60 % | 5 |
| December | +0.27 % | +0.80 % | 60 % | 5 |
Every month, year by year (%)
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | −2.2 | +3.5 | +6.5 | +2.6 | +1.5 | +0.3 | +1.2 | +1.1 | −4.4 | +5.7 | −3.7 | +5.2 |
| 2022 | −3.9 | −3.3 | +2.7 | −5.0 | −0.3 | −6.9 | +6.9 | −3.9 | −8.9 | +14.0 | +5.6 | −4.1 |
| 2023 | +2.2 | −4.1 | +2.2 | +2.5 | −3.6 | +4.6 | +3.4 | −2.3 | −3.5 | −1.9 | +8.9 | +4.9 |
| 2024 | +1.2 | +2.1 | +2.0 | −5.3 | +2.4 | +1.3 | +4.4 | +1.6 | +1.8 | −1.2 | +7.6 | −5.4 |
| 2025 | +4.4 | −0.7 | −4.4 | −2.9 | +3.6 | +4.5 | +0.2 | +3.2 | +1.6 | +2.6 | −0.5 | +0.8 |
| 2026 | +1.6 | +0.2 | −4.3 | +7.5 | +2.5 | +2.4 | +0.6 | +1.0 | −4.2 | +1.6 | — | — |
Trading sessions
How much of the day's range happens inside each session, over the last 12 months. Sessions overlap, so the shares do not add up to 100%. A session with no prices in our feed is not listed.
| Session | Average range | Median share of the day's range | Days |
|---|---|---|---|
| Tokyo 09:00–15:00 Tokyo time | 31.7 bp | 23 % | 257 |
| London 08:00–16:30 London time | 96.0 bp | 82 % | 257 |
| New York 08:00–17:00 New York time | 106.0 bp | 92 % | 257 |
Volatility over the last year
ATR (14) as a percentage of the price, one point per trading day.
How it is measured
- One-minute bid prices from the cTrader broker feed we use for our own backtests: 1507 complete trading days, 2021-01-04 to 2026-10-30.
- A trading day is the broker's: it closes at 17:00 New York time, as in cTrader. Partial days (holidays) are left out.
- Range = high − low of the period, as a share of its opening price. 1 bp (basis point) = 0.01%. ATR is Wilder's 14-day average true range.
- The hourly profile is measured in UTC and kept separately for US summer and winter time, so the hours shown in your time zone stay right all year.
- Updated every day after the market data sync. These are descriptive statistics of the past: they are not a forecast and not a trading signal.