Diageo Shares Fall 0.90% Amid 30.34% Volume Spike to $220M Ranking 453rd in Liquidity Among Listed Equities

Diageo (DEO) closed 0.90% lower on September 24, 2025, with a trading volume of $220 million, marking a 30.34% increase from the previous day's volume. The stock ranked 453rd in trading activity among listed equities, indicating moderate liquidity despite the price decline.

Analysts noted that recent market dynamics reflected investor caution around global beverage sector fundamentals. While no direct earnings or strategic announcements impacted Diageo's shares, broader macroeconomic signals influenced positioning. The company's underperformance aligned with sector-wide trends as trade data and currency fluctuations reshaped risk appetites.

To run this back-test precisely we need to pin down a few practical details: 1. Universe • All U.S. listed common stocks (≈7,000 names) – covers every ticker that could rank in the daily top-500 by volume, but will greatly increase the data load. • S&P 500 constituents only – still 500 names, but easier and much faster to process. 2. Volume definition • Share volume (number of shares traded) – the usual metric. • Dollar volume (shares × close price) – often preferred when liquidity is the main concern. 3. Execution convention • Buy at today’s close (once we know today’s volumes) and sell at tomorrow’s close (1-day holding period). • Buy at tomorrow’s open and sell at tomorrow’s close (also 1 trading day, but avoids using same-day closing prices in both ranking and execution). 4. Weighting • Equal-weight across the selected 500 tickers each day (straightforward). • Dollar-volume-weighted (implicitly skews toward the most liquid names). Because the full-universe option requires downloading and processing thousands of ticker series (roughly 700 trading days × 7,000 tickers), please let me know which combination you prefer. Once you confirm, I’ll pull the data and run the back-test.