Well, if these "anomalies" could indeed generate a big trading edge for the traders (like 20% return a year or more, with, say 5% maximum drawdown) these services would simply keep the info to themselves and quietly profit from it, don't you think? In any case, the most important question is this : when Joe Insider buys tons of shares of XYZ company, how does the stock react? Does the price go up (or down) after X days or weeks? What is the typical increase in percentage, if any? What is the average maximum drawdown in % before this (hypothetical) increase?
Well, that’s why I didn’t sign up, but if you are an investor researching a stock maybe additional info like this could be useful. Maybe for small to midcap stocks. One could also create an index out of this info. These are crazy times, maybe it will be a hit with Robinhood traders.
I've seen some blog posts of data scientists who couldn't find correlation between inside trades and stock prices on the long term. But actually I'm more interested in short term as in day trading and buying directly after a filing is being published. I keep seeing stocks shooting up (sometimes a lot) or moving sideways after filings about big buys are reported and they rarely go down a lot. But I can't back that up yet with a serious data analysis. It especially seems to happen right after a reported filing pre and post market, which brings more risks of course.
Be careful. Garbage in, Garbage out. and end of day, your account will be out too. There are tons of useless worthless garbage information out there. When A bought 1 000 000 shares, B would have sold 1 000 000 shares. Who are you going to follow? If you follow A, you'd buy. If you follow B, you'd sell. Just focus on the charts.