INTL Surges to 495th in Market Turnover as Volume Jumps 83% on Sept. 8

On September 8, 2025, International (INTL) traded with a volume of $0.23 billion, marking an 83.01% surge from the prior day's activity and securing its position at rank 495 in total market turnover. Meanwhile, International Paper (IP) declined by 2.63% during the session.

Recent developments indicate heightened market attention on liquidity dynamics for high-volume securities. A notable cross-sectional strategy involving daily rebalancing of 500 stocks faces current back-testing limitations, as existing tools are constrained to single-asset analysis. This has prompted exploration of alternative approaches, including fixed ticker lists, proxy ETFs for liquidity baskets, or sector-specific testing to simulate daily-holding rules effectively.

For strategies requiring rapid turnover of top-volume equities, practitioners are advised to consider aggregated testing via predefined high-liquidity indices or sector ETFs as practical workarounds. The inability to directly model large, daily-rebalanced portfolios underscores the need for creative adaptations when evaluating short-term trading frameworks in high-volume environments.

It looks like you would like to evaluate a cross-sectional strategy that re-selects and re-weights 500 different stocks every trading day. Unfortunately, the current back-testing tools available to me are designed to evaluate one security (or one predefined price series) at a time, so they can’t directly simulate a daily-rebalanced, 500-stock portfolio.

Here are three practical alternatives:

1. Provide a fixed list of tickers – If you can give (or upload) a specific set of symbols you consider “high-volume,” I can run an equal-weight, one-day-holding back-test on each stock individually and then aggregate the results.

2. Use a proxy ETF or index product – For example, if there’s an ETF that tracks a “high-liquidity” basket (e.g., something like SPY or another broad, highly traded fund), we can test the one-day-holding rule on that instrument as a proxy.

3. Focus on a single stock or sector – If you’d like to study how the one-day-holding rule behaves for a handful of representative tickers first, we can run those immediately.

Please let me know which approach (or another) you prefer, and we’ll proceed with the appropriate back-testing setup.