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On September 26, 2025,
Inc. (MSCI) closed with a 0.13% gain, with a trading volume of $330 million ranking it 320th among U.S. equities. The index provider’s muted performance reflected mixed market sentiment amid ongoing debates over ESG ratings methodologies and regulatory scrutiny. Recent regulatory discussions in the EU and U.S. regarding the transparency of ESG metrics have intensified investor caution, though no immediate policy changes have been announced. Analysts noted that the stock’s limited movement suggests market participants are awaiting concrete developments before positioning.Meanwhile, MSCI’s exposure to emerging markets remains under scrutiny as global investors rebalance portfolios ahead of the year-end. While the firm’s core index licensing business remains resilient, concerns persist over decelerating demand for ESG-integrated products in developed markets. A recent earnings call highlighted stable subscription revenue growth, but management acknowledged margin pressures from competitive pricing in index-based fee structures. These factors have kept the stock range-bound in recent sessions.
To run this back-test robustly I’ll need to pin down a few implementation details: 1. Universe • Do you want “all U.S. listed stocks,” only those in a benchmark universe (e.g., the Russell 3000, S&P 1500, etc.), or a specific country/region? 2. Weighting & position sizing • Equal-weight each of the 500 names, or weight by something else (e.g., inverse volatility, volume-proportional, etc.)? 3. Execution convention • Buy at today’s close and sell at tomorrow’s close (close-to-close), or buy at tomorrow’s open and exit at tomorrow’s close (open-to-close), or another convention? 4. Transaction costs / slippage • Should we include an estimate (commission + bid/ask spread), or assume frictionless trading? 5. Benchmark (optional) • Any particular index you’d like to compare the strategy against? Once I have this information I can construct the data-retrieval plan, generate daily signals for the top-volume names, and run the back-test from 2022-01-01 through today.

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