Elevance Health Surges 1.33% as Trading Volume Tumbles to 305th in Liquidity Rankings

On September 22, 2025, . , . .

The movement in ELV's price appears tied to sector-specific dynamics rather than broad market shifts. Analysts noted that healthcare insurers faced renewed scrutiny over regulatory adjustments, with Elevance's position as a major player in managed care amplifying sensitivity to policy-related developments. While no direct earnings or guidance updates were reported, the stock's performance suggests investors are recalibrating risk exposure amid evolving healthcare cost-control measures.

To build the back-test exactly as intended, two clarifications are required: First, the universe definition—should the daily scan for the "top-500 by trading volume" include all U.S.-listed common stocks (NYSE + NASDAQ + AMEX) or another equity universe? Second, the weighting methodology—once the 500 stocks are selected, should equal dollar weights be applied to each, or should they be weighted by a different rule such as volume or market capitalization? With these parameters confirmed, the data-retrieval plan can be finalized to generate daily trade signals and execute the back-test from January 3, 2022, through the current date.