Investors are starting to think about tax optimization as the year comes to a close, selling off losing positions to offset gains. Data shows that stocks down 25% or more tend to underperform in the final weeks. However, the last two years have shown beaten down stocks outperforming, with 59% beating the S&P 500 Index.

Looking at the data from the past three years, stocks near their two-year low have actually gained 4% for the rest of the year, with 59% beating the SPX. Despite the theory that beaten down stocks would underperform, the last two years have shown these stocks performing well. Numbers show bullish implications for these stocks.

A list of 30 stocks that have been beaten down by the criteria used in the study shows bullish implications over the past couple of years. While the theory may suggest avoiding these stocks, data from the last few years shows that beaten down stocks have actually performed well, with 59% beating the S&P 500 Index.

Read more at Yahoo Finance: Want to Lower Your Tax Bill? Don’t Ditch Underperformers