Univrsity Of Tehran Press Financial Research Journal 1024-8153 19 2 2017 07 23 Examining the Effect of Ramazan and Muharram on the Risk and Return of Mutual Funds in Iran Capital Market Examining the Effect of Ramazan and Muharram on the Risk and Return of Mutual Funds in Iran Capital Market 217 238 64810 10.22059/jfr.2017.212407.1006255 FA Seyed Ali Hosseini Assistant Prof., Faculty of Social Sciences and Economic, Alzahra University, Tehran, Iran Mohammad Salehifar Ph.D. Candidate in Finance, Faculty of Management and Economics, Science and Research Branch Islamic Azad University, Tehran, Iran Moslem Nilchi Ph.D. Candidate in Finance, Yazd University, Yazd, Iran 0000-0001-8946-4693 Journal Article 2016 08 03 Risk and return of active mutual funds in Iran capital market. We apply multiple regression analysis, correlogram tests and GARCH model between 2008 – 2014 years to test the data. Findings show that there are some positive and negative relationships in return and risk of some mutual funds, however it is not generalized to all mutual funds as a regularity or behavior. In other words, there is no irrational trend in mutual funds’ risk and return. According to the results, there is no irrational return which has significant effect on all mutual funds in the sample of this study. Therefore, the public opinion including a decrease in return of mutual funds during Ramazan and Muharram months is invalid. Risk and return of active mutual funds in Iran capital market. We apply multiple regression analysis, correlogram tests and GARCH model between 2008 – 2014 years to test the data. Findings show that there are some positive and negative relationships in return and risk of some mutual funds, however it is not generalized to all mutual funds as a regularity or behavior. In other words, there is no irrational trend in mutual funds’ risk and return. According to the results, there is no irrational return which has significant effect on all mutual funds in the sample of this study. Therefore, the public opinion including a decrease in return of mutual funds during Ramazan and Muharram months is invalid. https://jfr.ut.ac.ir/article_64810_f14824353c448ef73fb76ccfe2c009e5.pdf