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📉 Index Drawdowns & Recoveries

Drawdowns of the S&P 500, KOSPI, Nikkei or any stock from full daily data: past declines, recovery times and returns a year later. Yahoo Finance, not advice.

Drawdown threshold

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Last–

Below record close–

Low of this decline–

Since the record–

Deepest on record–

Months deeper than now–

Ticks mark the troughs of past declines at or above the threshold; the yellow marker is today.

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Log price and drawdown from the record close

Shaded spans are declines at or above the threshold (darker: peak to trough; lighter: trough back to the old peak). Dots mark each trough. Everything is measured on daily closes, so intraday lows do not show.

Drawdown record

Peak	Trough	Depth	Peak → trough	Back to peak	Trough → peak	Total underwater
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Peaks and troughs are closing prices, so they differ from intraday highs and lows. Highs set before the record begins are unknown, so declines near the start can look shallower than they were. Tap a row to zoom the chart to it.

What followed past declines of this size

Past cases

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First reached	Drawdown then	Further to the low	6 months later	1 year later	Back to peak
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For information only, not investment advice. Prices come from Yahoo Finance via our server and may be delayed 15–20 minutes or more depending on the exchange, or interrupted. Charts: TradingView Lightweight Charts™

What this tool does

This tool uses real market data to show how far a stock index such as the KOSPI, S&P 500, Nasdaq, Nikkei 225 or Dow (or any stock you choose) has fallen from its highs in the past, and how long it took to get back. It shades each decline on a log price chart and adds a drawdown (underwater) chart, a list of declines above a threshold, where the index stands against its record today, and a list of past cases showing what happened 6 months and 1 year after the index had fallen by the same amount.

How it is calculated

Prices come from Yahoo Finance through our server. The tool loads the full daily history Yahoo has for each symbol once, and separately loads the last 3 months of daily bars to add new values (every 5 minutes while the market is open, every 30 minutes when it is closed). If Yahoo has no daily bar yet for the latest day, that value comes from the latest quote, and the note under the chart says so. Drawdown = that day's value ÷ the highest value up to that day − 1. Declines use closed bars only: a decline starts at a record value, reaches at least the threshold (10%, 20%, 30%, or today's drawdown rounded down to a whole percent, offered only when it is at least 5%), and ends on the day the old record is regained. The 'What followed' table collects, for each peak, the first day the threshold was reached (once per peak) and records the return from that day to 182 and 365 days later (the next trading day if that date is a holiday; the cell is left blank if the next trading day is more than 45 days away). The comparison line measures the same 1-year return from every month-end on record (excluding the unfinished current month), and 'Months deeper than now' counts the same month-end sample. Indices are measured as price indices without dividends; stocks and ETFs use the adjusted close (dividends reinvested) by default, and you can switch to the closing price.

Pick the KOSPI, S&P 500, Nasdaq, Nikkei or Dow with the buttons, or type a name or ticker into the search box (for example Samsung Electronics, 005930, AAPL or 7203.T).

In the first card, read the latest value, the drawdown from the record close, the low of the current decline and the deepest drawdown on record; the bar shows where today's drawdown sits against the troughs of past declines.

Check the shaded declines on the log chart and the drawdown curve, and narrow the view with the period buttons (All, 20Y, 10Y, 3Y, 1Y). Tap a row in the decline table to jump the chart to it.

Switch the threshold (10%, 20%, 30%, Now) to see how past cases of the same fall looked 6 months and 1 year later, next to the all-month-ends comparison.

Reading the screen, section by section

Picking a symbol — index buttons and search box

The top buttons jump straight to the KOSPI, S&P 500, Nasdaq (Nasdaq Composite), Nikkei and Dow. In the search box, type a name or code such as Nvidia, Apple, Samsung Electronics or SK hynix. Up to 8 matches appear as you type; if the symbol is not on the list, press Enter to load the code as typed. Six digits are tried on the KOSPI (.KS) first and then the KOSDAQ (.KQ); four digits are read as Tokyo (.T) stocks. Other US indices such as the Nasdaq 100 and Russell 2000, and US ETFs, are on the list too. Interest rates, volatility indices and exchange rates are left out of search because their value is not a price; if you load one by code, a warning says the drawdown is not an investment loss. The symbol, threshold, range and price axis stay in the address, so a shared link opens the same view.

Threshold and basis buttons

The threshold (10%, 20%, 30%) decides which declines count as episodes. Changing it recalculates the chart shading, both tables and the dashed line on the drawdown curve at once. A 'Now −n%' button appears only when the price is at least 5% below its high; it uses today's drawdown rounded down to a whole percent, so you can see past moments that fell as far as today. Stocks and ETFs can be measured on the close or on the adjusted close (dividends reinvested), with the adjusted close as default. For indices, symbols without an adjusted close, and symbols where both are identical, the button is hidden and the close is used. The adjusted close lowers past prices by the dividends paid since, so peak and trough values in the tables may differ from prices you remember.

First card — six figures

Next to the card title you see the name, code, currency, exchange and the time of the latest quote in the exchange's city time (New York for US stocks), plus whether the market is open. The US regular session runs from 9:30 a.m. to 4 p.m. New York time, which is overnight in Korea, so during the Korean day a US stock usually shows the previous night's close. The figures include the last point, so while the market is open they contain today's unfinished value and change with each refresh. If that live value is above the record close, the card does not declare a new high; it says the intraday value is above the record close. 'Deepest drawdown on record', by contrast, uses closed bars only.

Current value: the last point and its change from the previous point
From the high: that day's value ÷ the highest value up to that day − 1, with the record close and its date below
Low of this decline: the lowest value since the high, and how far it has risen from that low
Since the high: time elapsed since the record value
Deepest drawdown on record: the deepest closed-bar drawdown and how long recovery took
Months deeper than now: the share of all month-ends on record (excluding the unfinished month) that were further below their high than today

Drawdown gauge and summary

The bar under the figures runs from the high (0%) on the left to the deepest drawdown on record on the right (or today's, if deeper; at least 5%). Each small tick is the trough of a past decline that reached the threshold, and the separate marker is today. Hover a tick to see that episode's peak and trough dates and depth. If today's marker sits left of the cluster of ticks, the current decline is still shallow compared with past large ones; the closer it is to the right end, the rarer the depth. The summary below states today's value and drawdown, how many episodes reached the threshold and which was deepest, whether an episode is still unrecovered, and the share of month-ends deeper than today. The number of ticks changes with the threshold.

Log price chart and drawdown curve

The top chart is the price (or adjusted close) line; the bottom one is the daily drawdown from the high, filled below 0% (an underwater chart). The two share the crosshair and the visible range. Dark shading marks peak to trough, light shading trough to recovery, and dots mark each trough. Only the 6 deepest troughs and any ongoing episode carry labels, and the dashed line on the bottom chart is the current threshold. Narrow the view with the range buttons (All, 20y, 10y, 3y, 1y) and switch between log and linear axes. A log axis draws equal percentage moves at equal heights, so crashes from decades ago can be compared with recent declines. Daily closes are used, so intraday lows do not appear; the line under the chart gives the period and bar count actually used, and notes any earlier stretch joined from month-end closes or a last day filled from the latest quote.

Drawdown episodes table

Each row is one decline that reached the threshold. Episodes use closed bars only: from a record close, down by at least the threshold, until the day that record close is exceeded again. The sort buttons switch between most recent and deepest, and clicking a row moves the chart to that episode with some margin on both sides. An unrecovered episode is highlighted, and its recovery cell shows 'Not yet' with today's drawdown. Even if the price swings sharply during the session, this table only changes at the first refresh after the day's bar has closed. Peaks before the start of the record are unknown, so episodes at the very start of the record may look shallower than they were.

Peak and trough: date and that day's close
Depth: trough ÷ peak − 1
Decline: time from peak to trough
Recovered and trough to recovery: the day the peak was regained and the time from the trough to that day
Total: peak to recovery, or the time so far for an ongoing episode

What followed a fall this deep

For each peak, the tool takes the first day the threshold was reached (once per peak) and records the return from that day to 182 and 365 days later. If the target date is a holiday, the next closed bar is used; if the next trading day is more than 45 days away, the cell is left blank. Cases where that date has not arrived yet show the return so far in faint text with the time elapsed. The text above the table gives the number of cases, how many of those older than a year were higher a year later with the median and range, the median further fall to the low for cases that have recovered, and, as a comparison, the 1-year return measured from every month-end on record. With only a handful of cases, one or two can swing the result, and the table does not predict anything.

Keeping it open

When the status reads that the market is open, the last 3 months of daily bars are reloaded every 5 minutes; when it is closed, every 30 minutes, and the long history is reloaded once it is 6 hours old. In a background tab refreshing pauses, and on return it reloads at once if a cycle was missed. Prices come from Yahoo Finance through our server and can be 15 to 20 minutes or more late depending on the exchange. A good scan order: ① today's position on the drawdown figure and gauge, ② how close the curve is to the dashed line, ③ the past cases at today's depth after switching the threshold to 'Now'. Korean stocks have a ±30% daily price limit, but US stocks have no such limit, so a single day's fall can be larger. A live candlestick chart, a major-index overview and a seasonality calendar make good companions.

Things to know

A log scale draws equal percentage moves at equal heights. For an index that has multiplied many times over decades, only a log chart lets you compare old crashes with recent ones.

Recovery times vary widely between indices. On this record, the S&P 500 regained its September 1929 high only in September 1954 (about 25 years), the Nikkei 225 passed its end-1989 high in February 2024 (about 34 years), and the Nasdaq Composite regained its March 2000 high in April 2015 (about 15 years).

Highs set before the record begins are unknown. The KOSPI record starts in December 1996, so the decline that began at the 1994 high is measured from the June 1997 peak; the Dow's Yahoo record starts in 1992, so use the S&P 500 for the 1929 crash.

Past cases usually number from a handful to about a dozen, so one or two of them can swing the result. Read them next to the all-month-ends comparison and do not treat them as a guide to what comes next.

Sharing the page address opens the same symbol, threshold, period and price scale.

Frequently asked questions

How is the drawdown calculated?

Divide the day's closing price by the highest close up to that day and subtract 1. It is 0% on a day that sets a new record close and grows more negative as the price falls. A decline ends on the day the old record close is regained. Because it uses closing prices, it is slightly shallower than a drawdown measured from intraday highs and lows.

How far back does the record go?

The tool uses the full daily history on Yahoo Finance. For the main indices that starts in December 1927 for the S&P 500, January 1965 for the Nikkei 225, February 1971 for the Nasdaq Composite, January 1992 for the Dow and December 1996 for the KOSPI; individual stocks start wherever Yahoo's record does. The span and bar count actually used are listed under the chart. If Yahoo ever returns the full history only as month-end closes, the tool puts those closes in front of the last 10 years of daily bars and says so; deeper lows between month-ends are then missing, so older declines can look shallower than they were.

Does the 'What followed' table predict the future?

No. It is a record of the past days on which the drawdown first reached the threshold, with the returns that actually followed. Each peak is counted only once so a single decline is not counted several times. There are few cases and every era was different, so even for the same index the 1-year results vary widely. The comparison from all month-ends is shown because the cases alone can look more special than they are.

Why are stocks and ETFs measured on the adjusted close?

Individual stocks and ETFs use the adjusted close by default. It assumes dividends are reinvested and scales past prices down accordingly, so drawdowns and 1-year returns come closer to what a shareholder who received the dividends actually went through. The more a stock pays out, the shallower its drawdowns and the faster its recoveries look compared with the closing price. The peak and trough values in the table then differ from the prices you are used to seeing, so press 'Price' to measure drawdowns on the closing price instead. Indices such as the KOSPI and S&P 500 are price indices without dividends, so the option does not appear for them, nor for symbols whose two values are identical.

For reference only, not investment advice. Prices are fetched from Yahoo Finance by our server and may be delayed.