I am new to trading and want to backtest strategies on historical data.
Will backtesting a strategy on different markets, e.g., Australia, US, etc give different outcomes?
with term "outcomes" I mean the viability and not absolute profitability of a strategy. For instance, Can it happen that a strategy has positive returns on the US market data and negative returns on the Australian market data?
Assumptions: a) Same commisions b) No optimisation/learning
Unless a second market is 100% correlation to the first, then yes the outcome will be different.
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