Backtest
The backtest results reveal that industry-wide earnings beats and misses in the Food Products sector had no significant impact on returns, with post-event gains remaining below 1.1% in both cases.
These findings indicate that both positive and negative earnings surprises for the sector do not generate notable movements, underscoring the industry's resilience.
For investors, this suggests that earnings results alone may not offer strong trading signals in the Food Products sector, highlighting the importance of considering broader market factors.