Cheniere Energy's Stock Plummets 1.73% Amid Mixed LNG Signals, $320M Volume Ranks 404th in Market Activity

On October 10, 2025, Cheniere Energy (LNG) closed down 1.73% with a trading volume of $320 million, ranking 404th in market activity. The stock’s decline occurred amid mixed signals from the liquefied natural gas sector as global energy markets navigated shifting supply dynamics and regulatory developments.

Recent market attention on Cheniere centered on its operational updates and strategic positioning in the LNG industry. Analysts noted that the company’s performance remains closely tied to U.S. export capacity expansions and long-term contract negotiations. While no direct earnings reports or executive statements were disclosed, industry observers highlighted potential volatility due to seasonal demand fluctuations and geopolitical factors affecting global gas prices.

To set up this back-test precisely I need to confirm a few practical details: 1. Market universe • Do you want all U.S. listed common stocks (NYSE + NASDAQ + Arca), or a different universe (e.g., only S&P 500 constituents, only NASDAQ, etc.)? 2. Re-balancing convention • Should the “buy” be executed at that day’s close price and the “sell” at the next day’s close (i.e., 1-trading-day holding period)? • Equal-weight each of the 500 positions at entry, with full turnover every day? (That is the common approach, but please confirm.) 3. Returns calculation • Report the portfolio’s gross daily return series, then aggregate to cumulative return and summary statistics (CAGR, max drawdown, Sharpe, etc.)? • Any transaction‐cost assumption (e.g., 2 bps per trade) or slippage to include? Once I have these details I can generate the signals and run the back-test from 2022-01-03 (first trading day of 2022) through today.