Talen Energy's Modest 0.14 Gains on 250 Million Volume Land It 451st in Turnover Amid Regulatory Shifts

On October 7, 2025, Talen Energy (TLN) closed with a 0.14% gain, trading on $250 million in volume, ranking 451st among listed equities by turnover. The stock's modest performance followed a mixed earnings outlook and regulatory updates in the energy sector.

Recent developments highlighted Talen's strategic alignment with renewable energy targets amid shifting policy frameworks. A revised grid modernization initiative was announced, potentially impacting long-term capital allocation for thermal generation assets. Analysts noted the move could accelerate phase-out timelines for coal-fired plants, though immediate operational adjustments remain limited.

Regulatory filings revealed updated capacity auction results for regional transmission operators, with Talen securing key contracts in the PJM Interconnection. The outcome reinforced its position in the competitive wholesale market, though contract duration and pricing volatility remain key execution risks for investors.

To run this back-test accurately I’ll need to pin down a few practical details and confirm the market universe. Could you please clarify the points below? 1. Exchange universe • U.S. listed stocks (NYSE + NASDAQ) – is that the set you have in mind, or another market? 2. Trading convention for the one-day holding period • Buy at today’s close → sell at tomorrow’s close (close-to-close return) • Buy at tomorrow’s open → sell at tomorrow’s close (open-to-close) • Another convention? 3. Re-balancing frequency • Every trading day we form a new basket of the top-500-by-volume and fully rotate the portfolio? (That’s the usual interpretation, but I’ll confirm.) 4. Benchmark / performance metric preferences • Any specific benchmark you’d like to compare against (e.g., S&P 500, equal-weight universe)? • Key stats of interest besides cumulative return and max drawdown? Once I have this information I can construct the daily baskets, generate the trade signals, and feed them into the back-test engine.