Backtesting Sub-industry Group Performance using Industry factors

Research
1

I created a universe of 160 Industry group symbols (link below) and tried to run a simple ranking system with Industry factor (e.g. Pr4W%ChgInd) performance with 4-week rebalancing and 20 buckets over the last 3 years. The Performance report only shows 1 bucket.

  • How do i backtest Industries or Sub-industries (where 1 position represents an industry group) using Industry factors?

Sub-industry universe - https://www.portfolio123.com/app/universe/summary/165728?st=1&mt=7

2

Using “Ticker” means you are looking for stocks, not industry groups. The easiest way to specify subindustries is to use “GICS”. Also, you might just want to exclude those you don’t want in your universe. For example GICS(Gold)=FALSE. There are no quote marks in the list.