If the New York Giants beat the New England Patriots in the Super Bowl on Sunday, expect stocks to finish the year in positive territory, according to a time-tested metric.
The Super Bowl indicator, which has been right 78 percent of the time, shows that when the team from the National Football Conference (the Giants this year) wins, stocks rise for the year while if the American Football Conference team wins (the Patriots), stocks finish the year falling, the Wall Street Journal reports.
"From an analytical side, it's harder to prove rationally based on our knowledge, but statistically, [the numbers are] there!" says Howard Silverblatt, Senior Index Analyst, Standard & Poor’s, the Journal adds.
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Besides having fun, how much stock should investors put in the index?
"Absolutely zero — and 100 percent," says Silverblatt.
"Investors should be realizing that this can’t be correct. It’s a statistical fluke. But on the other hand, it’s 78 percent! If my broker was correct 78 percent, I would be retired by now!"
The Super Bowl will take place in Indianapolis this year, and the city will receive a welcome economic shot in the arm by hosting the event, says Jack Ablin, chief investment officer at Harris Private Bank.
"Using previous Super Bowls as a guide, Indianapolis should enjoy a $150 million economic boost," says Ablin, according to MarketWire.
"City officials expect more than 100 corporate-sponsored private parties touting everything from liquor, magazines and other consumer brands. The residual effect could be even greater. The majority of big-game attendees are business decision-makers who have the potential to add to the city's economy for years to come," Ablin adds.
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