Major League Baseball hits its mid-season break this week and with that comes the ever-popular All-Star game on Tuesday.
Sponsors of the game and of MLB, in general, pay millions to have their brands before the TV audience and even on the stadium where the games are played. Tuesday's game will be played in Great American Ball Park, named for an insurance company based in Cincinnati.
Some traders and academics speculate that increased exposure around sporting events can encourage retail investors to scoop up shares in the sponsor companies, or sports-connected companies in general. For at least two sponsors, history shows that relationship paying off by driving up stock value around the game.
PepsiCo and Nike, both MLB sponsors for more than a decade, have traded positive over eight of the past 10 All-Star games, according to an analysis by Kensho, a qualitative tool used by hedge funds. Kensho looked at buying shares the day of the All-Star game and selling the following day since 2005.