A few weeks back I developed a backtesting strategy and observed similar results. Initially, I thought there might be an issue with my script, but after reading your message, I decided to manually replicate the portfolio using the stocks shared here. I calculated the portfolio return from August 19 to September 16 (last month), and it only generated -0.45% returns, while the index delivered 5.3% in the same period. Based on this, and my earlier backtesting, it seems that the strategy is not able to outperform the index. It would be great if someone could double-check this.
Can also someone share their returns if they have invested a lump sum amount? If you’re using a SIP approach, then the comparison may not be accurate.
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