What makes market research reproducible?

Know what the data represents.

Record the source, timestamps, coverage, and transformation steps for each dataset. Market data may include revisions, missing observations, contract changes, and differences between quoted and executable prices. Each can influence a conclusion.

Keep future information out of the experiment.

An experiment should use information that was available at the decision time. Review joins, feature calculations, and dataset revisions for accidental look-ahead. Separate the data used to develop an idea from the data used to evaluate it.

Account for the cost of execution.

A signal does not automatically translate into an executable trade. Spread, fees, slippage, latency, and liquidity can change an apparent result. Document those assumptions and test how sensitive the conclusion is to them.

Report the whole distribution.

A headline average can hide concentrated losses, long recovery periods, or dependence on a single market condition. Review drawdown, turnover, stability across periods, and the number of observations. State clearly whether a result is simulated, backtested, or observed in live operation.

Keep conclusions within the evidence.

A research result is tied to a dataset, a method, and a measurement period. It does not establish future returns. Preserve versions so that later changes can be compared with the original experiment. Market research becomes more useful when the reader can inspect how the conclusion was reached.