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On Sept. 24, 2025,
(UNH) closed at a 1.18% gain, with a trading volume of $3.17 billion—ranking 24th in market activity—though this marked a 27.23% decline from the previous day's volume. The move came amid mixed investor sentiment toward healthcare sector dynamics.Analysts noted that the stock's performance was influenced by evolving regulatory scrutiny over health insurance pricing practices, though no new enforcement actions were disclosed. The company's recent earnings report highlighted stable enrollment growth in its Medicaid programs, balancing concerns over margin pressures from pharmaceutical cost inflation. These factors contributed to a measured trading pattern as investors weighed long-term operational resilience against short-term cost challenges.
To run this strategy rigorously I need to pin down a few practical details that aren’t fully specified yet: 1. Universe definition • Do you literally want to rank every common share that trades in the U S. each day, or would a standard universe (e.g., current Russell 3000 or S&P 500 constituents) be acceptable? • Note that the Russell 3000 contains ~3 000 names; the S&P 500 exactly 500. If you truly want “top 500 by volume” across *all* U.S. listings, the list of tradable tickers we evaluate each day will be larger than 500. 2. Entry & exit convention • Buy at today’s close and sell at tomorrow’s close (typical close-to-close momentum style), or • Buy at tomorrow’s open and sell at tomorrow’s close? (The difference matters for slippage assumptions.) 3. Transaction-cost model • Default to zero commission + a conservative 5 bp bid/ask slippage per round-trip? • Or specify your own. 4. Rebalancing mechanics • All 500 positions equally weighted each day? • Or volume-weighted / dollar-volume-weighted? If you can confirm (or quickly guide me on) the above, I can set up the data retrieval plan and run the back-test.

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