Bull and Bear Markets
in Canada since 1955
All bull and bear markets must come to an end. These markets are
determined by looking at the change between the highest close and
the lowest close in the stock market cycle. While there is no firm
definition, a bear market typically occurs when the market declines
by 20% or more. A bull market occurs when the market has increased
close to 50% or more. The S&P/TSX Composite Price Index was
used below to demonstrate bull and bear markets over the past 54
years. Each cycle on the graph notes both the duration and
cumulative return.

Bull and Bear Markets
in the U.S. since 1950
All bull and bear markets must come to an end. These markets are
determined by looking at the change between the highest close and
the lowest close in the stock market cycle. While there is no firm
definition, a bear market typically occurs when the market declines
by 20% or more. A bull market occurs when the market has increased
close to 50% or more. The S&P 500 Composite Price Index was
used below to demonstrate bull and bear markets over the past 59
years. Each cycle on the graph notes both the duration and
cumulative return.


(click to download a pdf of this information)
Source: IA Clarington Investments Inc. and Bloomberg based on
monthly data points. *Note that the first bull market on the graph
began in 1950. Commissions, trailing commissions, management
fees and expenses all may be associated with mutual fund
investments. Please read the prospectus before investing. Mutual
funds are not guaranteed, their values change frequently and
past
performance may not be repeated. The IA Clarington Funds and the
IA Clarington Target Click Funds are managed by IA Clarington
Investments Inc. IA Clarington and the IA Clarington logo are
trademarks of Industrial Alliance Insurance and Financial Services
Inc. and are used under license.