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Finaxion Research · “Sell in May and go away” · single stocks · Recomputed 2026-09-10

Does “Sell in May and go away” work on HPE?

“Sell in May and go away” does not beat buy-and-hold on HPE: -11.8 points a year over 11 years.

Total return
134.2%
Buy and hold
625.0%
CAGR
8.2%
Sharpe
0.42
Max drawdown
-55.1%
Trades
22
Out of sample
—
Years
11
1×4.4×20162017201820192020202120222023202420252026
StrategyHPE

Findings

  1. “Sell in May and go away” does not beat buy-and-hold on HPE: -11.8 points a year over 11 years.
  2. Against the S&P 500 over the same window: -6.7 points a year.
  3. Total return +134.2% versus +625.0% for buy-and-hold, with 22 trades.
  4. Maximum drawdown -55.1%.
  5. It beat before 2021 and stopped afterwards.
  6. It ranks #183 of 232 markets for this strategy by annual excess over the S&P 500.

Findings derived from the full panel. Each carries its number and its denominator; the computations are reproducible with artifact 0b534dd04389.

Exactly what was tested

Long from the first trading day of November to the last of April; cash from May to October. Calendar rules: simulated with our seasonal engine, same costs as everything else.

How to read it

The verdict compares the strategy with buying and holding HPE over the same window, with round-trip costs per asset class. “Out of sample” is walk-forward: the rule is fit on one stretch and judged on the next. A result that beats in the full sample but not out of it is overfit. Full methodology in the protocol. How we test.

Open this backtest with its trades   Trades (CSV)

Every strategy on HPE → · Full page for “Sell in May and go away” →

How to cite

Finaxion Research (2026). Does “Sell in May and go away” work on HPE?. Daily backtest 1962-01-01–2026-08-31, artifact 0b534dd04389. https://finaxion.app/en/research/sell-in-may/hpe

Not a recommendation. Past performance does not guarantee future results.