These stocks may rally on Fidel Castro's death as traders bet on an eventual free Cuba

A man passes in front of a poster against the U.S. blockade to Cuba, in Havana on October 26, 2016 after the UN General Assembly adopted a resolution calling for an end to the U.S. embargo.
Adalberto Roque | AFP | Getty Images

The death of Fidel Castro could boost certain stocks poised to benefit from a free and economically relevant Cuba, according to a study of stock market trading history surrounding significant milestones in U.S.-Cuba relations.

To be sure, President-elect Donald Trump signaled Monday he would rollback recent moves by President Barack Obama at opening up the communist country. Still, the death of the 90-year-old former leader will be seen by many investors as the first step in an eventual fall of the current regime, led by Castro's 85-year-old brother, Raul.

Using hedge fund analytics tool Kensho, CNBC Pro identified 15 events in the last seven years that were seen as positive developments toward normalizing relations with Cuba.

Below are some of the more interesting performers in the S&P 1500 one week after those milestones. Also included is the average performance of the Herzfeld Caribbean Basin Fund, a closed-end fund composed of companies poised to benefit from a free Cuba, one week after these events.