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.

374
signals scored
63.6%
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%.

374 signals opened in the last 6 months · Mid Cap · 20–30% from what funds paid

Threshold met Not met, but profitable Open Loss

New positions: 3× sector average

Bullish

2 signals

100%
5%
8d median
100%
10%
25d median
100%
15%
58d median
100%
20%
60d median

Top-10 holder growth: top 10% of sector

Bullish

9 signals

89%
5%
15d median
89%
10%
27d median
89%
15%
32d median
67%
20%
31d median

Top-performing funds doubled stake

Bullish

21 signals

76%
5%
4d median
57%
10%
14d median
52%
15%
27d median
38%
20%
33d median

Most funds doubling stake vs. market cap peers

Bullish

174 signals

71%
5%
7d median
60%
10%
14d median
52%
15%
24d median
46%
20%
31d median

Top-10 holders: 3× sector average

Bullish

3 signals

67%
5%
2d median
67%
10%
15d median
67%
15%
28d median
67%
20%
29d median

Call option value: 3× sector average

Bullish

41 signals

63%
5%
6d median
51%
10%
8d median
39%
15%
10d median
37%
20%
14d median

New positions: top 10% of sector

Bullish

46 signals

63%
5%
8d median
48%
10%
21d median
33%
15%
29d median
28%
20%
43d median

Holding value drop: worst 10%

Bearish

114 signals

60%
5%
9d median
43%
10%
19d median
31%
15%
27d median
23%
20%
34d median

Holding value drop: worst 5%

Bearish

55 signals

58%
5%
8d median
44%
10%
17d median
29%
15%
20d median
18%
20%
20d median

Net inflow: top 10% of sector

Bullish

47 signals

32%
5%
4d median
13%
10%
21d median
9%
15%
15d median
9%
20%
16d median

Net inflow top 10%, few exits

Bullish

13 signals

23%
5%
1d median
0%
10%
–
0%
15%
–
0%
20%
–

Gross inflow: 3× sector average

Bullish

1 signal

0%
5%
–
0%
10%
–
0%
15%
–
0%
20%
–

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.