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Apr 04 2025
Estimating the Downside

Estimating the Downside - April 2025

  • Apr 4, 2025

The S&P 500’s March loss was its worst since December 2022. The Q1 decline broke the index’s streak of five consecutive quarterly advances. Still, downside to median levels remains substantial: -38% based on 1957-to-date history; -25% using data from 1995-present.

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About The Author

Phil Segner / Sr. Research Analyst & Co-Portfolio Manager

Phil Segner Sr. Research Analyst & Co-Portfolio Manager

Phil is a Co-Portfolio Manager and Sr. Research Analyst at The Leuthold Group, LLC. He is a member of the asset allocation and investment committees and is a major contributor to the firm's research publications.

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