Good day sunshine: stock returns and the weather
Morning sunshine in the city of each country's leading exchange and daily index returns across 26 countries, 1982 to 1997; sunshine strongly significantly correlated with returns; rain and snow unrelated after controlling for sunshine; weather-based strategies optimal only with very low transaction costs, and fairly modest costs eliminate the gains. Affiliations from Ohio State University's news release (read).
Morning sunshine in the city of each country's leading exchange and daily index returns across 26 countries, 1982 to 1997; sunshine strongly significantly correlated with returns; rain and snow unrelated after controlling for sunshine; weather-based strategies optimal only with very low transaction costs, and fairly modest costs eliminate the gains. Affiliations from Ohio State University's news release (read).
Written from the abstract read 2026-10-12.
What our sources record
Reproduced as it was written when this source was checked, figures and all.
doi:10.1111/1540-6261.00556. Abstract read (BYU ScholarsArchive): morning sunshine in the city of each country's leading exchange and daily index returns across 26 countries, 1982 to 1997; sunshine strongly significantly correlated with returns; rain and snow unrelated after controlling for sunshine; weather-based strategies optimal only with very low transaction costs, and fairly modest costs eliminate the gains. Affiliations from Ohio State University's news release (read).