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.

626
signals scored
53.2%
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%.

626 signals opened in the last 3 months · all sizes · 20–30% from what funds paid

Threshold met Not met, but profitable Open Loss

Top-10 holder growth: top 10% of sector

Bullish

29 signals

79%
5%
7d median
69%
10%
10d median
52%
15%
18d median
41%
20%
28d median

New positions: top 10% of sector

Bullish

135 signals

64%
5%
7d median
47%
10%
17d median
33%
15%
20d median
24%
20%
21d median

Holding value drop: worst 10%

Bearish

162 signals

64%
5%
7d median
52%
10%
20d median
38%
15%
29d median
28%
20%
35d median

Call option value: 3× sector average

Bullish

93 signals

62%
5%
6d median
47%
10%
11d median
39%
15%
14d median
32%
20%
13d median

New positions: 3× sector average

Bullish

29 signals

62%
5%
5d median
48%
10%
11d median
45%
15%
14d median
34%
20%
19d median

Top-performing funds doubled stake

Bullish

28 signals

61%
5%
8d median
43%
10%
20d median
39%
15%
25d median
25%
20%
30d median

Top-10 holders: 3× sector average

Bullish

30 signals

60%
5%
7d median
43%
10%
17d median
37%
15%
21d median
23%
20%
22d median

Holding value drop: worst 5%

Bearish

82 signals

59%
5%
7d median
45%
10%
19d median
33%
15%
24d median
20%
20%
25d median

Increased positions: 3× sector average

Bullish

28 signals

57%
5%
8d median
36%
10%
20d median
29%
15%
25d median
14%
20%
30d median

Gross inflow: 3× sector average

Bullish

65 signals

57%
5%
7d median
42%
10%
16d median
32%
15%
19d median
22%
20%
18d median

Net inflow: top 10% of sector

Bullish

138 signals

48%
5%
7d median
30%
10%
16d median
25%
15%
16d median
19%
20%
18d median

Most funds doubling stake vs. market cap peers

Bullish

256 signals

45%
5%
7d median
27%
10%
11d median
19%
15%
15d median
14%
20%
18d median

Net inflow top 10%, few exits

Bullish

35 signals

34%
5%
6d median
11%
10%
13d median
6%
15%
16d median
6%
20%
25d 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.