PFE rel volume: the current reading and its track record

PFE's current rel volume reading and what that signal has historically been followed by.

This page covers Pfizer (PFE) — its current rel volume reading and the measured historical record of what PFE rel volume extremes were followed by.

How to read this. These figures are measured only on instruments currently in our coverage — a set of companies that survived. Signals that appear to have 'worked' on the downside are conditioned on these names having recovered; a company that fell and never came back would not be here to measure. Read every number below as a property of this surviving sample, not a universal rule, and never as advice.

All figures are ‘excess’ returns — measured relative to each instrument’s own historical drift, not relative to the market. This is not alpha and not a market-beating claim; it isolates the signal from the instrument’s background trend. Measured from the first day each signal appeared (not its most extreme point), so it reflects what was knowable in real time.

rel volume showed no measurable forward signal. Across the full sample, episodes on this measure were followed by returns statistically indistinguishable from each instrument’s own drift — we report this as a null result rather than hide it.

When PFE was overbought / at a high extreme

Across 306 past episodes where PFE was overbought on this signal, the close 20 sessions later lagged PFE’s own trailing drift by 0.07 percentage points on average (47% of episodes beat drift).

PFE forward excess return vs its own drift after overbought rel volume readings, by horizon.
horizonexcess vs own driftbeat-drift rateepisodes with complete horizon
1 session+0.04%48%306
5 sessions-0.16%47%306
20 sessions-0.07%47%306

When PFE was oversold / at a low extreme

Across 195 past episodes where PFE was oversold on this signal, the close 20 sessions later beat PFE’s own trailing drift by 0.35 percentage points on average (51% of episodes beat drift).

PFE forward excess return vs its own drift after oversold rel volume readings, by horizon.
horizonexcess vs own driftbeat-drift rateepisodes with complete horizon
1 session+0.04%50%195
5 sessions+0.18%50%195
20 sessions+0.35%51%195

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