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.

1,145
signals scored
70.7%
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%.

1,145 signals opened in the last 6 months · all sizes · 20–30% from what funds paid

Threshold met Not met, but profitable Open Loss

Top-10 holders: 3× sector average

Bullish

86 signals

85%
5%
9d median
74%
10%
22d median
65%
15%
36d median
53%
20%
48d median

Top-10 holder growth: top 10% of sector

Bullish

38 signals

84%
5%
8d median
74%
10%
15d median
61%
15%
25d median
53%
20%
31d median

Increased positions: 3× sector average

Bullish

83 signals

83%
5%
11d median
71%
10%
24d median
64%
15%
48d median
55%
20%
63d median

Top-performing funds doubled stake

Bullish

84 signals

81%
5%
8d median
69%
10%
17d median
62%
15%
28d median
45%
20%
41d median

Gross inflow: 3× sector average

Bullish

138 signals

78%
5%
10d median
67%
10%
20d median
59%
15%
39d median
51%
20%
57d median

Call option value: 3× sector average

Bullish

180 signals

78%
5%
8d median
67%
10%
15d median
58%
15%
26d median
50%
20%
38d median

New positions: top 10% of sector

Bullish

240 signals

77%
5%
9d median
64%
10%
21d median
53%
15%
34d median
45%
20%
43d median

Holding value drop: worst 5%

Bearish

164 signals

75%
5%
8d median
62%
10%
15d median
49%
15%
27d median
38%
20%
35d median

Holding value drop: worst 10%

Bearish

306 signals

75%
5%
9d median
62%
10%
18d median
49%
15%
28d median
39%
20%
36d median

New positions: 3× sector average

Bullish

62 signals

74%
5%
8d median
65%
10%
17d median
60%
15%
36d median
53%
20%
49d median

Most funds doubling stake vs. market cap peers

Bullish

482 signals

68%
5%
8d median
57%
10%
14d median
50%
15%
25d median
43%
20%
36d median

Net inflow: top 10% of sector

Bullish

248 signals

68%
5%
9d median
56%
10%
20d median
50%
15%
38d median
44%
20%
47d median

Net inflow top 10%, few exits

Bullish

36 signals

33%
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.