According to @KobeissiLetter, October has been the stock market’s most volatile month, with S&P 500 volatility running 33% above the average of the other 11 months since 1945, highlighting an elevated risk window for traders, source: The Kobeissi Letter. The next most volatile month historically is January at 16% above average, source: The Kobeissi Letter. In Presidential Year 1, October is typically the third-weakest month, posting an average S&P 500 return of -0.58% since 1929 while finishing positive 54% of the time, source: The Kobeissi Letter. Following strong rallies like the roughly 35% gain since April, the S&P 500 has historically slipped 0.60% in October but averaged a 3.0% advance in Q4, source: Carson Investment Research cited by The Kobeissi Letter. For crypto traders, elevated equity volatility can transmit to digital assets as stock-crypto co-movement strengthens during stress, increasing risk for BTC and ETH around macro shocks, source: International Monetary Fund and The Kobeissi Letter.