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.

6,188
signals scored
93.1%
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%.

6,188 signals opened since 2013 · Large Cap · 20–30% from what funds paid

Threshold met Not met, but profitable Open Loss

Most funds doubling stake vs. market cap peers

Bullish

1,729 signals

95%
5%
11d median
90%
10%
29d median
86%
15%
56d median
82%
20%
80d median

Top-performing funds doubled stake

Bullish

418 signals

95%
5%
11d median
87%
10%
29d median
84%
15%
49d median
77%
20%
68d median

Top-10 holders: 3× sector average

Bullish

1,094 signals

94%
5%
9d median
88%
10%
29d median
82%
15%
50d median
75%
20%
75d median

Top-10 holder growth: top 10% of sector

Bullish

309 signals

94%
5%
7d median
87%
10%
22d median
82%
15%
38d median
77%
20%
64d median

Increased positions: 3× sector average

Bullish

1,304 signals

94%
5%
11d median
87%
10%
33d median
80%
15%
58d median
74%
20%
85d median

New positions: top 10% of sector

Bullish

2,701 signals

94%
5%
11d median
87%
10%
30d median
82%
15%
56d median
77%
20%
82d median

New positions: 3× sector average

Bullish

818 signals

93%
5%
9d median
87%
10%
27d median
81%
15%
49d median
75%
20%
79d median

Net inflow: top 10% of sector

Bullish

2,728 signals

93%
5%
11d median
87%
10%
29d median
82%
15%
50d median
76%
20%
77d median

Call option value: 3× sector average

Bullish

2,059 signals

93%
5%
11d median
86%
10%
31d median
80%
15%
55d median
75%
20%
79d median

Gross inflow: 3× sector average

Bullish

2,303 signals

93%
5%
10d median
86%
10%
29d median
80%
15%
51d median
73%
20%
80d median

Holding value drop: worst 10%

Bearish

834 signals

88%
5%
20d median
78%
10%
41d median
64%
15%
81d median
52%
20%
119d median

Holding value drop: worst 5%

Bearish

320 signals

87%
5%
15d median
79%
10%
31d median
64%
15%
65d median
52%
20%
107d median

Net inflow top 10%, few exits

Bullish

101 signals

85%
5%
10d median
81%
10%
32d median
76%
15%
63d median
71%
20%
89d 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.