The backtest shows that RNW experienced a 30-day average return of 5.69% following an earnings beat, with a 57.14% win rate over that period. Returns were more consistent over 10 days, with an 85.71% win rate and a 4.93% average return.

These results suggest RNW tends to respond positively in the short to medium term after beating earnings estimates, though the highest win rates occur within the first 10 days.

Investors seeking to benefit from earnings surprises in RNW may consider a short- to medium-term holding period post-announcement.

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The backtest results show that when the Independent Power and Renewable Electricity Producers Industry beats expectations, there is no statistically significant impact, with a maximum observed return of only 1.26% within five days.

This suggests the event does not consistently yield notable positive or negative effects for the industry during the tested period.

For investors, the findings indicate that earnings beats in this industry do not provide meaningful alpha opportunities and may not warrant event-driven trading strategies.

Backtest RNW Earning Beats

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