Abstract
The current paper examines national sporting events related market anomaly. It assesses an interrelationship between the Football Association Challenge Cup, known as FA Cup, winning team and annual returns for UK GDP, FTSE All Share index over the 133-year competition period as well as house price inflation starting from 1931. To test the hypothesis, the study employs a combination of non-parametric and regression techniques. The former is Kruskal-Wallis (KW) test. The latter is dummy variable regression. As the results of the study suggest, there is no statistical relationship between FA Cup winners and the annual growth in macro-series. All in all, analysts should simply enjoy ‘o jogo bonito’ (the beautiful game) rather than use it’s outcomes to gauge annual market trends.
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