I know volume is somewhat irrelevant for our analysis but every time I open a chart on a stock, I realise the stock’s volume is not at all comparable to what it was verified in the financial crisis.
Obviously we are still in early stages and we don’t know how severe this year is going to be, but in late Feb / early Mar investors were selling everything, regardless of the underlying fundamentals. For this reason I’d expect a higher volume than what we have been seeing so far.
So I quickly gathered monthly data since Jan 1st 2000. Here are the top 10 volume months for the three major indices:
|Date||SPY US Equity||Date||DIA US Equity||Date||QQQ US Equity|
|Jul 2008||7,159,685,514||Aug 2007||542,456,367||Aug 2007||3,837,603,700|
|Sep 2008||8,107,004,009||Jan 2008||473,817,559||Nov 2007||4,568,289,702|
|Oct 2008||11,889,533,913||Jul 2008||575,679,842||Jan 2008||4,830,052,723|
|Nov 2008||8,769,772,411||Sep 2008||698,767,530||Mar 2008||3,405,461,791|
|Dec 2008||6,931,852,768||Oct 2008||1,007,324,974||Jun 2008||3,543,244,113|
|Jan 2009||6,877,054,936||Nov 2008||777,343,900||Jul 2008||3,953,850,942|
|Feb 2009||7,275,971,509||Dec 2008||577,907,423||Sep 2008||5,191,355,670|
|Mar 2009||8,816,278,923||Jan 2009||619,041,379||Oct 2008||7,243,672,958|
|May 2010||7,414,147,699||Feb 2009||651,131,497||Nov 2008||3,920,998,019|
|Aug 2011||9,050,591,972||Mar 2009||604,531,737||Mar 2009||3,807,881,648|
|Mar 2020||5,926,710,256||Mar 2020||254,996,463||Mar 2020||2,191,775,633|
Again, this is not relevant for our analysis, but I still find interesting to discover that the fastest 20% drawdown in history had a lower volume than events like the 2008 crisis.
Disclaimer: This information is only for educational purposes. Do not make any investment decisions based on the information in this article. Do you own due diligence.