Sell in May / DAX
DAX
Does Sell in May show up in the DAX?
A U.S. market saying should not automatically be assumed to work in Germany. The DAX gives us a useful cross-market test of the same seasonal window.
Why compare the DAX separately?
Market composition, currency exposure, sector mix and local investor flows can all change the shape of seasonality. A pattern that looks clear in the S&P 500 may be weaker, stronger or simply different in the DAX.
Keep the dates identical
Use the same May–October and November–April windows when comparing indices so you are measuring market differences rather than date differences.
Compare recent vs long history
Check whether the relationship survives over shorter and longer lookback periods.
Test DAX seasonality directly
The DAX is preselected in the free dashboard.