Signal backtest

90% of signals have moved 5% in their direction

Every signal is scored against what followed: whether the price moved 5%, 10%, 15% or 20% in the signal’s direction within two years of opening, how long that took, and the return if simply held.

662
signals scored
96.4%
reached +5%
13
signal patterns

What the data shows

01

Company size

81% of mega-cap signals reached +20%, against 70% overall. Only 5% of signals are mega caps.

02

Distance below what funds paid

Bullish signals that opened 35–50% below what funds paid reached +20% 78% of the time, against 67% for those 5–15% below.

03

Reaching a level vs. holding on

90% of signals reached +5% at some point, but the median bullish signal was +9.1% two years after opening, and the median bearish one +0.8%.

662 signals opened since 2013 · Mega Cap · 20–30% from what funds paid

Threshold met Not met, but profitable Open Loss

Net inflow top 10%, few exits

Bullish

7 signals

100%
5%
7d median
100%
10%
14d median
100%
15%
28d median
100%
20%
29d median

Top-10 holder growth: top 10% of sector

Bullish

67 signals

100%
5%
5d median
100%
10%
14d median
100%
15%
35d median
100%
20%
79d median

New positions: 3× sector average

Bullish

341 signals

98%
5%
9d median
97%
10%
28d median
95%
15%
52d median
94%
20%
79d median

Net inflow: top 10% of sector

Bullish

451 signals

97%
5%
10d median
96%
10%
31d median
94%
15%
52d median
92%
20%
85d median

Most funds doubling stake vs. market cap peers

Bullish

284 signals

97%
5%
12d median
96%
10%
34d median
95%
15%
55d median
93%
20%
79d median

New positions: top 10% of sector

Bullish

534 signals

97%
5%
10d median
96%
10%
31d median
94%
15%
51d median
91%
20%
79d median

Gross inflow: 3× sector average

Bullish

512 signals

97%
5%
10d median
96%
10%
31d median
93%
15%
51d median
91%
20%
80d median

Call option value: 3× sector average

Bullish

490 signals

97%
5%
11d median
96%
10%
34d median
93%
15%
56d median
90%
20%
88d median

Top-performing funds doubled stake

Bullish

199 signals

96%
5%
10d median
96%
10%
27d median
93%
15%
47d median
88%
20%
79d median

Increased positions: 3× sector average

Bullish

452 signals

96%
5%
10d median
95%
10%
33d median
93%
15%
52d median
90%
20%
86d median

Top-10 holders: 3× sector average

Bullish

359 signals

96%
5%
10d median
94%
10%
36d median
91%
15%
58d median
88%
20%
87d median

Holding value drop: worst 5%

Bearish

21 signals

95%
5%
32d median
71%
10%
105d median
43%
15%
43d median
33%
20%
35d median

Holding value drop: worst 10%

Bearish

59 signals

88%
5%
24d median
73%
10%
52d median
54%
15%
57d median
41%
20%
54d median

That’s the record behind every signal.

See the latest signals

A threshold counts as met when the price moved that far in the signal’s direction within two years of opening. Signals opened less than two years ago that haven’t met a threshold yet are open. Profitable or loss is the return two years after opening, for signals that didn’t meet a threshold. Returns if held use each signal’s opening price. Past results do not guarantee future returns.