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.

119
signals scored
97.5%
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%.

119 signals opened in the last 24 months · Mega Cap · 20–30% from what funds paid

Threshold met Not met, but profitable Open Loss

Holding value drop: worst 10%

Bearish

11 signals

100%
5%
97d median
91%
10%
107d median
82%
15%
108d median
45%
20%
49d median

Holding value drop: worst 5%

Bearish

5 signals

100%
5%
106d median
80%
10%
141d median
60%
15%
175d median
40%
20%
232d median

Net inflow top 10%, few exits

Bullish

2 signals

100%
5%
14d median
100%
10%
21d median
100%
15%
29d median
100%
20%
38d median

Top-10 holder growth: top 10% of sector

Bullish

24 signals

100%
5%
5d median
100%
10%
14d median
100%
15%
28d median
100%
20%
64d median

Most funds doubling stake vs. market cap peers

Bullish

44 signals

98%
5%
15d median
98%
10%
25d median
98%
15%
53d median
95%
20%
65d median

Net inflow: top 10% of sector

Bullish

81 signals

98%
5%
13d median
96%
10%
20d median
93%
15%
42d median
88%
20%
62d median

New positions: top 10% of sector

Bullish

98 signals

97%
5%
13d median
96%
10%
22d median
93%
15%
44d median
87%
20%
64d median

Gross inflow: 3× sector average

Bullish

93 signals

97%
5%
13d median
96%
10%
20d median
92%
15%
41d median
86%
20%
64d median

Increased positions: 3× sector average

Bullish

93 signals

97%
5%
13d median
96%
10%
20d median
92%
15%
44d median
86%
20%
64d median

Top-10 holders: 3× sector average

Bullish

62 signals

97%
5%
15d median
97%
10%
24d median
92%
15%
42d median
82%
20%
64d median

Call option value: 3× sector average

Bullish

89 signals

97%
5%
13d median
96%
10%
21d median
91%
15%
42d median
84%
20%
64d median

New positions: 3× sector average

Bullish

75 signals

96%
5%
13d median
96%
10%
20d median
93%
15%
43d median
91%
20%
65d median

Top-performing funds doubled stake

Bullish

57 signals

95%
5%
15d median
95%
10%
23d median
89%
15%
39d median
77%
20%
55d 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.