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Investors hope Tom Brady's Super Bowl win changes stock market indicator's fortunes
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Stock market investors hope Tom Brady winning Super Bowl LV as a member of the Tampa Bay Buccaneers turns around their fortunes.
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SPDR S&P 500 ETF
The S&P 500 previously underperformed in years that Brady won the big game as a member of the New England Patriots, and has done even worse when he lost.
“Stocks don’t do well when he [Brady] is in the game, wrote Ryan Detrick, chief market strategist at LPL Financial.
The index has averaged a 6% gain during Brady victories and returned an average of 0.5% in years that he appeared in the game, as tracked by LPL. The S&P 500 has averaged an 8% annual gain since its founding in 1928.