The paper provides evidence for the existence of a midterm election effect. By examining the quarterly total returns on … quarter of a midterm election year and the following two quarters. This compounds to nearly 25% in those three quarters … year of a presidential term effect is weaker than the examined midterm election effect …

and change in returns relative to the previous day's returns during election periods. However, there exists strong …, when it gets close to the election date, the degree of volatility hike is observed to be stronger. Based on comparisons …