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The backtest results indicate that when RY misses earnings expectations, its stock shows a 50% win rate and an average 1.47% return over 30 days, with no significant pattern, while the Banks industry overall experiences only a mild downside limited to -0.11% over 16 days. Notably, Industrial Conglomerates gained persistently after RY earnings misses, whereas Electric Utilities underperformed; the broader market was largely unaffected. Therefore, investors should avoid major bets on RY and the Banks sector post-miss, but may consider a modest tilt toward industrials and caution on utilities.