+1 sessions
Median return +0.28%Completed observations: 47
- Middle 50%
- -0.83% … +0.95%
- Positive returns
- 55%
PepsiCo · Sigma Moves
Closed-period price moves, measured against their own history. One engine. Five markets. No forecasts.
Latest closed period
PepsiCo's latest move against its own history.
PEP Rare
-3.25%
-2.72σ
About once every 38 trading sessions
33 comparable moves / 1,254 observations
What happened afterwards
All history-qualified moves of at least 2.5σ. Results after the event are descriptive statistics, not trading instructions.
+7 sessions
Median return +0.61%Completed observations: 47
- Middle 50%
- -1.03% … +2.02%
- Positive returns
- 55%
+30 sessions
Median return +0.96%Completed observations: 47
- Middle 50%
- -4.46% … +3.36%
- Positive returns
- 51%
Every rare move, in context
Instrument: PEP (price return)
| Date | σ | Move | Observed rarity | +1 sessions | +7 sessions | +30 sessions |
|---|---|---|---|---|---|---|
| 26 May 2026 | -2.72σ | -3.25% | About once every 38 trading sessions33 comparable moves / 1,254 observations | +1.41% | -2.42% | -5.37% |
| 11 May 2026 | -3.01σ | -3.37% | About once every 57 trading sessions22 comparable moves / 1,255 observations | +1.63% | -0.08% | -4.78% |
| 3 Feb 2026 | +3.73σ | +4.93% | About once every 157 trading sessions8 comparable moves / 1,255 observations | +2.04% | +2.67% | -5.72% |
| 30 Jan 2026 | +3.07σ | +3.32% | About once every 66 trading sessions19 comparable moves / 1,255 observations | +1.02% | +8.68% | +2.66% |
| 10 Dec 2025 | +3.59σ | +3.50% | About once every 126 trading sessions10 comparable moves / 1,255 observations | -0.44% | -1.03% | -2.56% |
| 9 Oct 2025 | +3.63σ | +4.23% | About once every 139 trading sessions9 comparable moves / 1,255 observations | +3.71% | +6.17% | +0.96% |
| 8 Sep 2025 | -2.56σ | -3.20% | About once every 33 trading sessions38 comparable moves / 1,255 observations | +0.98% | -0.34% | +8.42% |
| 17 Jul 2025 | +6.26σ | +7.45% | Not previously observed in 5 years0 comparable moves / 1,255 observations | -1.51% | -2.66% | +1.06% |
| 24 Apr 2025 | -3.01σ | -4.89% | About once every 60 trading sessions21 comparable moves / 1,256 observations | -1.43% | -2.45% | -3.90% |
| 4 Apr 2025 | -2.52σ | -3.14% | About once every 32 trading sessions39 comparable moves / 1,256 observations | -2.33% | -2.57% | -10.11% |
| 4 Feb 2025 | -3.44σ | -4.51% | About once every 79 trading sessions16 comparable moves / 1,257 observations | +1.51% | +0.76% | +3.22% |
| 27 Jan 2025 | +3.48σ | +3.68% | About once every 84 trading sessions15 comparable moves / 1,257 observations | -2.82% | -5.79% | -1.47% |
| 10 Jan 2025 | -2.52σ | -2.66% | About once every 27 trading sessions46 comparable moves / 1,257 observations | +1.30% | +3.82% | +9.66% |
| 15 Nov 2024 | -5.27σ | -3.95% | 1 times in 5 years1 comparable moves / 1,258 observations | -0.18% | +2.23% | -4.14% |
| 3 Sep 2024 | +3.11σ | +2.70% | About once every 74 trading sessions17 comparable moves / 1,258 observations | +0.55% | -0.16% | -0.92% |
| 17 Jul 2024 | +3.05σ | +3.11% | About once every 66 trading sessions19 comparable moves / 1,258 observations | +0.28% | +1.68% | +2.37% |
| 10 Jun 2024 | -2.68σ | -3.01% | About once every 31 trading sessions40 comparable moves / 1,259 observations | -0.50% | +0.47% | +1.37% |
| 28 May 2024 | -2.51σ | -2.59% | About once every 26 trading sessions48 comparable moves / 1,259 observations | -1.29% | -0.10% | -5.44% |
| 24 Apr 2024 | +2.96σ | +3.62% | About once every 57 trading sessions22 comparable moves / 1,259 observations | -0.41% | -0.71% | -2.37% |
| 23 Apr 2024 | -3.09σ | -2.97% | About once every 74 trading sessions17 comparable moves / 1,259 observations | +3.62% | +2.47% | +1.33% |
| 18 Mar 2024 | +4.41σ | +4.01% | About once every 252 trading sessions5 comparable moves / 1,259 observations | +0.32% | +1.35% | +2.72% |
| 9 Feb 2024 | -4.11σ | -3.55% | About once every 210 trading sessions6 comparable moves / 1,258 observations | +1.75% | +0.69% | +2.94% |
| 13 Dec 2023 | +2.64σ | +2.10% | About once every 31 trading sessions40 comparable moves / 1,258 observations | -2.19% | -2.52% | -2.24% |
| 5 Oct 2023 | -6.19σ | -5.22% | Not previously observed in 5 years0 comparable moves / 1,257 observations | +0.12% | +0.61% | +4.75% |
| 13 Jul 2023 | +2.94σ | +2.38% | About once every 63 trading sessions20 comparable moves / 1,257 observations | +0.36% | +1.81% | -5.52% |
| 7 Jul 2023 | -2.59σ | -1.89% | About once every 29 trading sessions43 comparable moves / 1,257 observations | +0.67% | +0.75% | -2.68% |
| 22 May 2023 | -4.40σ | -2.71% | About once every 252 trading sessions5 comparable moves / 1,258 observations | -0.31% | -2.38% | -0.02% |
| 25 Apr 2023 | +3.55σ | +2.27% | About once every 157 trading sessions8 comparable moves / 1,258 observations | -0.62% | +1.93% | -5.06% |
| 18 Jan 2023 | -2.82σ | -2.52% | About once every 42 trading sessions30 comparable moves / 1,258 observations | -1.16% | -1.17% | +0.99% |
| 6 Jan 2023 | +2.72σ | +2.26% | About once every 36 trading sessions35 comparable moves / 1,258 observations | -0.98% | -5.23% | -2.72% |
| 12 Oct 2022 | +3.54σ | +4.18% | About once every 140 trading sessions9 comparable moves / 1,258 observations | +3.08% | +2.17% | +9.26% |
| 13 Sep 2022 | -4.00σ | -3.73% | About once every 207 trading sessions6 comparable moves / 1,243 observations | +0.76% | +0.71% | +6.49% |
| 26 Aug 2022 | -2.96σ | -2.36% | About once every 77 trading sessions16 comparable moves / 1,232 observations | -0.31% | -1.02% | -7.55% |
| 18 May 2022 | -4.73σ | -6.20% | 4 times in 5 years4 comparable moves / 1,163 observations | -1.50% | +4.96% | +3.51% |
| 4 May 2022 | +2.57σ | +3.49% | About once every 29 trading sessions40 comparable moves / 1,153 observations | -2.00% | -0.08% | -9.68% |
| 29 Apr 2022 | -3.20σ | -3.26% | About once every 105 trading sessions11 comparable moves / 1,150 observations | -2.30% | -0.13% | -6.97% |
| 25 Feb 2022 | +2.93σ | +2.80% | About once every 69 trading sessions16 comparable moves / 1,106 observations | -2.76% | -6.24% | +2.82% |
| 28 Jan 2022 | +2.62σ | +1.95% | About once every 30 trading sessions36 comparable moves / 1,087 observations | +0.49% | -0.38% | -9.72% |
| 30 Nov 2021 | -2.93σ | -2.66% | About once every 70 trading sessions15 comparable moves / 1,046 observations | +0.24% | +4.09% | +8.84% |
| 8 Nov 2021 | -2.74σ | -2.15% | About once every 38 trading sessions27 comparable moves / 1,031 observations | +0.66% | +0.58% | +4.00% |
| 6 Oct 2021 | +3.52σ | +2.56% | About once every 144 trading sessions7 comparable moves / 1,008 observations | +0.92% | +2.48% | +5.43% |
| 13 Jul 2021 | +3.41σ | +2.31% | About once every 119 trading sessions8 comparable moves / 948 observations | +1.03% | +1.46% | +1.92% |
| 18 Jun 2021 | -2.88σ | -2.09% | About once every 58 trading sessions16 comparable moves / 932 observations | +0.78% | +1.05% | +7.50% |
| 5 Mar 2021 | +3.06σ | +3.26% | About once every 95 trading sessions9 comparable moves / 859 observations | -0.68% | +0.74% | +8.81% |
| 27 Jan 2021 | -2.87σ | -2.65% | About once every 56 trading sessions15 comparable moves / 833 observations | +0.83% | +2.12% | -3.49% |
| 4 Jan 2021 | -3.64σ | -2.72% | About once every 163 trading sessions5 comparable moves / 817 observations | +0.30% | -1.16% | -6.80% |
| 28 Oct 2020 | -3.26σ | -3.56% | About once every 110 trading sessions7 comparable moves / 772 observations | -0.13% | +3.14% | +7.83% |
The number has a method behind it
Sigma measures the size of a log return relative to volatility estimated before the period. Rarity is counted from actual historical standardized moves, not inferred from a normal distribution.
σt = ln(Ct / Ct−1) / vtvt ← t−1, t−2, …
Volatility adapts to the market regime with EWMA (λ = 0.94 for daily and weekly observations). Current-period returns are excluded. Each historical σ uses its own prior volatility.
Both directions count toward rarity. Reference history spans up to five years. A period with no prior exceedances is labelled unprecedented in the observed sample; it is never given an invented recurrence interval.
Stock observations use split-adjusted price returns, without dividend reinvestment. Commodities are explicitly labelled ETF price proxies; they do not represent spot commodity prices.
Questions behind the sigma
What does a 3σ move mean?
The period log return is three times the volatility estimated from earlier periods. Sigma is signed: negative for declines and positive for rises.
Why not calculate rarity from a normal distribution?
Market returns have heavy tails and changing volatility. We count actual past absolute sigma exceedances for the same instrument and period.
Does “once every 200 days” predict the next event?
No. It is the number of historical observed periods divided by comparable moves. Events can cluster and the market regime can change.
How much history is required?
At least three years of valid standardized observations, after a one-year volatility warm-up. This normally requires approximately four years of source history.
Are all instruments directly comparable?
The engine is shared, but each instrument has its own prices, calendar, volatility and reference sample. Commodity cards use explicitly labelled ETF proxies.
What happens on quiet days?
The page shows the largest covered standardized move, the complete rarity scale and recent records. Missing data is reported separately from market calm.
For information only. Historical observations are not investment advice and do not predict future moves. A rare move can be followed by another rare move.