No. of Recommendations: 3
My Indian friend was super-fast with sending me the S&P data, so the following is now the full rough analysis, daily movement of BRK vs. Nasdaq and S&P.
2026
A) Nasdaq up 86x (53%): BRK up 41% / BRK down 59%
B) Nasdaq down 75x (47%): BRK down 48% / BRK up: 52%
A) S&P up 86x (54%): BRK up 47% / BRK down 53%
B) S&P down 73x (46%): BRK down 55% / BRK up: 45%
2025
A) Nasdaq up 144x (58%): BRK up 57% / BRK down 43%
B) Nasdaq down 105x (42%): BRK down 51% / BRK up: 49%
A) S&P up 143x (58%): BRK up 64% / BRK down 36%
B) S&P down 104x (42%): BRK down 61% / BRK up: 39%
2024
A) Nasdaq up 146x (58%): BRK up 58% / BRK down 42%
B) Nasdaq down 105x (42%): BRK down 47% / BRK up: 53%
A) S&P up 141x (57%): BRK up 66% / BRK down 34%
B) S&P down 106x (43%): BRK down 57% / BRK up: 43%
2023
A) Nasdaq up 141x (57%): BRK up 66% / BRK down 34%
B) Nasdaq down 108x (43%): BRK down 62% / BRK up: 38%
A) S&P up 136x (55%): BRK up 75% / BRK down 25%
B) S&P down 112x (45%): BRK down 72% / BRK up: 28%
2022
A) Nasdaq up 111x (45%): BRK up 80% / BRK down 20%
B) Nasdaq down 138x (55%): BRK down 75% / BRK up: 25%
A) S&P up 108x (43%): BRK up 82% / BRK down 18%
B) S&P down 143x (57%): BRK down 76% / BRK up: 24%
2021
A) Nasdaq up 140x (56%): BRK up 59% / BRK down 41%
B) Nasdaq down 111x (44%): BRK down 52% / BRK up: 48%
A) S&P up 143x (57%): BRK up 70% / BRK down 30%
B) S&P down 108x (43%): BRK down 67% / BRK up: 33%
As to be expected BRK moves more often in the opposite direction than the Nasdaq than the S&P - apart from 2022 when all went down and BRK moved much more in line with both indices than in any other year since 2021. Frustrating for all who hope BRK might be the perfect hedge in a bear market, as 2022 seems to say: "If all goes down BRK is no exception" (though for that statement a deeper analysis would be required, to find out whether BRK then not only has roughly the same number of down days, but whether the degree is comparable too).
P.S.: Please don´t be fooled by e.g. 2026 on first glance contradictory numbers: Nasdaq and S&P both up on 86 days - but BRK up on 41% respectively 47% of those days. Explanation: Although Nasdaq and S&P both were up on 86 days those must not necessarily have been the SAME days.
What confused me at first glance but probably also is no contradiction: That e.g. in 2026 there were 86+75=161 trading days for the Nasdaq, but only 86+73=159 for the S&P. Please take into account that 86, 75 and 73 are the number of the up or down days for the indices --- without the rare days without any change (0.00%). According to the raw data e.g. in 2026 2.July was such a day for the Nasdaq, and there might have been others in the years before. Either that or as practically every raw data source the one used for this contains small errors too, leading to slight differences which do not change the picture.