NEW YORK (TheStreet) -- Democratic presidents have historically "produced higher average gains" in regards to The Dow Jones Industrial Average since its inception in the late 1800s, CNBC's Dominic Chu reported on Monday afternoon's "Power Lunch."

During the eight distinct democratic administrations in the DOW's lifetime, the figure on average is up 82% during those terms, he said. On the other hand, during the 12 Republican administrations, the DOW is up overall by 47% on average. 

"So no matter who's president, the market goes up on average," he said.

However, a number of financial advisers say it doesn't matter who's president, because the S&P 500 has steadily risen over time since 1981, Chu noted. The country has gone "onward and upward and the market has gone up with it." 

Wall Street seems to believe the markets will generally rise if Democratic presidential candidate Hillary Clinton wins and that they'll fall if Republican presidential candidate Donald Trump wins, he said. That's because Trump represents uncertainty. 

JPMorgan said today that the S&P 500 could rise to 2,150 with a Clinton win, while Citigroup said last week that we could see a 5% drop in the S&P 500 if Trump wins, according to Chu. 

More from Markets

Why Jim Cramer Isn't Surprised By the Jobs Report

Why Jim Cramer Isn't Surprised By the Jobs Report

What to Expect From the Markets in 2019 According to an Abbott Downing Executive

What to Expect From the Markets in 2019 According to an Abbott Downing Executive

Illinois Tool Works Stock Falls Despite In-Line Earnings Guidance

Illinois Tool Works Stock Falls Despite In-Line Earnings Guidance

Dow Falls For Third Day, Loses 4.4% in Week on Jobs Report, Trade Fears

Dow Falls For Third Day, Loses 4.4% in Week on Jobs Report, Trade Fears

Rates Are 'About Right,' Says Federal Reserve's Bullard

Rates Are 'About Right,' Says Federal Reserve's Bullard