Chevron Shares Dip 0.78 as Trading Volume Climbs to 92nd Largest Among Listed Stocks

On October 2, 2025, Chevron (CVX) closed with a 0.78% decline, trading on a volume of $1.15 billion, ranking 92nd in terms of trading activity among listed stocks. The drop occurred despite the energy giant maintaining its position within the upper half of the volume leaderboard, reflecting mixed investor sentiment ahead of potential earnings updates or sector-wide adjustments.

The portfolio-level test (ranking all listed stocks by daily trading volume, buying the top 500, and rebalancing daily) requires assembling price and volume data for hundreds of tickers each day and computing an equal-weighted (or other weighting) portfolio return. At present, the built-in back-testing engine supports single-ticker strategies. To replicate the concept accurately, a multi-asset engine or custom script outside the current tool set would be necessary.

Two feasible approaches exist: First, narrowing the universe (e.g., top 50 or 100 by volume) and aggregating results manually. Second, using an ETF proxy for high-volume stocks, though this approximates the original idea. For precise analysis, a Python-based workflow could be outlined to execute the full back-test locally, capturing exact returns, turnover, and transaction cost impacts.