Stocks are a winter sport, says an old saying. It is usually true and especially on the Stockholm Stock Exchange. This is what Dagens industri writes in an analysis on Wednesday where the newspaper tips on the most reliable winter stocks.

Over the past 20 years, the broad OMXSPI index has climbed by an average of 9 percent in the six months from November through April, rising on 15 of the 20 occasions. From May through October, the index has barely moved.

The magazine examined the total returns of the 222 companies on the main list that have been listed for at least ten years and split the performance into two time periods, November to April and May to October.

Four stocks have had a better return during the fall/winter period than the total return index SIXRX nine out of ten years. These are aerospace company CTT Systems, mining company Lundin Mining, technology trading company Indutrade and industrial consultant Novotek.

There is also a larger group of 13 companies that have outperformed the stock market in eight of the ten years. This group consists of Fortnox, HMS Networks, Note, Addnode, Formpipe, Lagercrantz, Bufab, Boliden, New Wave, BTS, Sagax, Sandvik and Hexagon.