April 2026 · Backtesting · 15 min read
Do Insider Buys Actually Beat the Market? 3 Years of SEC Data Says It's Complicated
We backtested 906,088 SEC Form 4 filings from 2023–2026. Insider buying generates significant short-term alpha that decays within 10 days — but cluster buys tell a very different story.
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906K filings
9 interactive charts