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A Presidents Day Effect On Stocks? This Study Says Yes
A federal holiday often portends a long weekend for travel -- or maybe just an extra day off to relax. But can a holiday also benefit your stock portfolio?A group of researchers who explored the so-called "holiday effect" says yes. Their study, published in 2025 in the Review of Financial Economics, looked at stock returns before and after the 11 federal holidays.The team found that three holidays in particular -- including Presidents Day -- "are more likely to yield positive abnormal returns." The other two were Martin Luther King Jr. Day and Thanksgiving.The researchers, who looked at 100 largest stocks by market capitalization on the New York Stock Exchange between 2014 and 2024, say the study has real-life applications.As co-author Nikolas Albertson, an economist at TradeWell Securities, told Barron's, they found "statistically significant results that holiday effects exist, and if you were to pair that up with common knowledge of the market, you could take advantage of the opportu
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