There is a standard of tests for grease that may be suitable for bike use. There are others for automotive and other applications that may also be relevant. ASTM F2489-06 Standard Guide for Instrument and Precision Bearing Lubricants-Part 2

Grease isn't just grease - here are some of the tests you can peform to consider use:

Water Washout Characteristics of Lubricating
Oil Separation from Lubricating During Storage
Corrosion Preventive Properties
Roll Stability
Cone Penetration
Dropping Point of Lubricating Over Wide Temperature Range
Wear Preventive Characteristics
Extreme-Pressure Properties
Life Performance
Detection of Copper Corrosion
Elastomer Compatibility
Low-Temperature Torque
Oxidation Induction Time
Evaporation Loss
Dirt Content
Be-Quite Noise

Would you want to use a grease that promotes rust or has lots of dirt already?