2014 TOP to HNL Historical Review

YEARLY HIGH

11.6484 HNL

YEARLY LOW

10.2284 HNL

YEARLY AVERAGE

10.8155 HNL

2014 TOP to HNL Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2014

During 2014, the TOP to HNL exchange rate experienced significant fluctuation. The market reached its absolute peak on July 13, valuing the pair at 11.6484. Conversely, the yearly low was recorded on May 24, dropping to 10.2284.

This high-to-low spread represents a total annual volatility of 1.4199 HNL. From a start-to-finish perspective, comparing the January average rate of 10.7722 to the December average rate of 10.7431, the exchange rate registered a net change of -0.27% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2014 high of 11.6484 was up 0.02% compared to the 2013 peak of 11.6460, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

Comparing the value generated converting 5,000 TOP based on timing:

Yearly Peak High 58,242 HNL

2013 Average 56,060 HNL

Yearly Trough Low 51,142 HNL

Transaction Impact: A difference of 7,099.71 HNL purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2014.

11.4754

10.2624

JanuMarcMayJulySeptNove

TOP to HNL Seasonal Trends & Volatility Analysis

A structured review of seasonal halves, trading extremes, consecutive streaks, and historical baselines.

Seasonal Halves (H1 vs H2)

Seasonal

The average exchange rate in the first half of the year (H1: Jan–Jun) was 10.6298, compared to 11.0012 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the second half (Jul–Dec) by a margin of 0.3714 points.

H1 Avg (Jan–Jun) 10.6298

H2 Avg (Jul–Dec) 11.0012

Volatility Range Comparison

Volatility

The most volatile month in 2014 was May, with a trading range of 0.8432 HNL (High: 11.0716 / Low: 10.2284). On the other end, February was the most stable month, with a tight range of 0.1908 HNL (High: 10.6606 / Low: 10.4698).

May Spread (Volatile) ±0.8432

February Spread (Stable) ±0.1908

Growth Streaks & Declines

Trends

Between May and July, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 2 straight months. Conversely, the sharpest month-over-month decline occurred between September and October, when the average rate fell by 0.2481 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.2481

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (July 2014: 11.3743) against the same month in 2013 (average: 10.9924), the exchange rate shifted by +0.3819 (+3.47%).

2014 Avg (July) 11.3743

2013 Avg (July) 10.9924

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	10.9199	10.5968	10.7722
February	10.6606	10.4698	10.5581
March	10.5408	10.3455	10.4153
April	10.6215	10.2696	10.4582
May	11.0716	10.2284	10.3634
June	11.3507	11.0366	11.2116
July	11.6484	11.2256	11.3743
August	11.5398	11.1541	11.3075
September	11.4101	10.8049	11.0771
October	10.9318	10.7077	10.8290
November	10.8441	10.5844	10.6760
December	10.8771	10.6508	10.7431