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Zscaler (ZS) rose 0.76% on Sept. 29 with a trading volume of $420 million, ranking 274th in overall market activity. The stock’s performance reflects continued investor confidence in its cloud security solutions amid evolving digital infrastructure demands. Recent earnings and product updates have positioned the company as a key player in the cybersecurity sector.
Analysts noted that Zscaler’s growth trajectory remains tied to broader trends in enterprise cloud adoption. The company’s recent quarterly report highlighted strong revenue expansion, with a particular emphasis on recurring subscription models. While macroeconomic uncertainties persist, Zscaler’s market share gains in the zero-trust architecture space have offset some of the sector-wide volatility.
Backtesting the “top-500-by-volume” strategy requires either constructing a custom index or testing narrower proxies like the S&P 500 ETF (SPY). A virtual index approach would involve aggregating daily returns from the 500 highest-volume U.S. stocks, while the SPY proxy method leverages existing single-ticker capabilities. Both options demand further data refinement and computational resources to execute effectively.

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