The backtest results show that WOR has a low win rate of 33.33% across 3-day, 10-day, and 30-day periods following earnings beats, with negative short-term returns and a modest 1.25% gain at 30 days. This indicates that earnings beats for WOR do not consistently translate into positive price performance in the short to medium term.

The analysis suggests that despite occasional gains, the overall market reaction to WOR's earnings beats is weak and unreliable.

Investors should be cautious about expecting strong price appreciation from WOR after earnings beats and consider other factors before investing.

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The backtest results show that WOR has a low probability of positive returns following earnings misses, with a 25% win rate at 3 and 30 days and a 50% win rate at 10 days. Returns are negative across all periods, indicating a consistent adverse price reaction. This suggests that WOR tends to underperform after disappointing earnings announcements. Investors should be cautious and consider avoiding or shorting WOR in the short to medium term following earnings misses to mitigate downside risk.

The backtest results show that the Metals & Mining Industry experienced no significant impact following earnings beats, with a maximum return of -0.21% observed on day 7. This indicates that earnings beats in this sector do not translate into meaningful price movements over the tested period.

The lack of positive response suggests that other factors may dominate investor sentiment in this industry, reducing the predictive power of earnings surprises.

Investors should be cautious about relying on earnings beats alone when making decisions in the Metals & Mining sector.

The backtest results reveal that when the Metals & Mining Industry misses earnings expectations, the impact on the sector is predominantly negative, with a maximum return of only 0.44% observed 13 days after the event. This indicates a generally weak market reaction to earnings misses within this industry over the tested period.

The limited positive return suggests that investors tend to respond cautiously, reflecting concerns about the industry's performance and outlook following earnings disappointments.

For investors, this implies a defensive stance may be prudent when Metals & Mining companies report earnings below expectations.

Backtest WOR Earnings Beat and Miss Expectations

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