The backtest results show MMC has a mixed short-term reaction to earnings beating expectations, with a 41.67% win rate over 3 days but improving to 75.00% over 30 days. Returns initially dip slightly at -0.15% over 3 days but gradually rise to a 2.73% gain after 30 days. This suggests MMC's positive earnings surprises tend to yield more significant gains when held over a longer horizon.

The analysis reflects that investors may initially face volatility but could benefit from holding MMC for up to a month post earnings beat.

Therefore, adopting a medium-term holding strategy post-earnings beat can be advantageous for MMC investors.

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The backtest of the Insurance Industry following earnings beat expectations showed no significant impact, with a maximum return of just 1.27% occurring 15 days after the event. This limited response suggests that earnings beats in this sector do not consistently translate into strong short- or medium-term price movements.

The results imply the market may have already priced in anticipated earnings improvements or other factors dilute the effect.

For investors, this indicates that relying solely on earnings beats as a signal for investment decisions in the Insurance Industry may not be effective.

Backtest MMC Earning Beats Expectations

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