Here's how global markets performed for each Chinese New Year Zodiac sign

Giddy up. Picture: Getty Images

With Chinese new year kicking off this week, CMC Markets has released a report analysing how global markets performed during each zodiac sign.

The Chinese lunar calendar follows a 12-year cycle with each year names after one of the animals in the zodiac. 2015 is the Year of the Goat.

Historically, the Year of the Goat has delivered strong performance in the Hang Seng, FTSE, S&P/ASX and S&P/TSX, above average for commodities but only average for the S&P 500.

CMC Canada market analyst Colin Cieszynski looked at historic market returns, commodity outlooks and the role of central banks around the world to determine the results.

He predicted the Year of the Goat could see the bulls triumph over the bears.

Here’s the average return for each zodiac sign.

The Year of the Goat has in the past been a strong year for stock markets with major world indicies posting gains of between 15% and 35%.

Cieszynski said a two factors suggest 2015 could be a solid one for markets including the willingness of central banks to jump on monetary easing policy like interest rate cuts, currency peg removals and asset purchase programs, as well as tanking oil prices over the past six months.

“Oil price crashes have historically been very positive for stock markets by putting more money directly back into the hands of consumers and businesses,” he said.

During the Year of the Horse, which has just ended, historically returns were below average performance. But in 2014, most stock markets performed better than average. Commodity markets, however, were weak – especially with the tanking oil price towards the end of the year.

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.