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.

1,383
signals scored
87.9%
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%.

1,383 signals opened since 2013 · Micro Cap · 35–50% from what funds paid

Threshold met Not met, but profitable Open Loss

Gross inflow: 3× sector average

Bullish

16 signals

100%
5%
6d median
94%
10%
9d median
69%
15%
12d median
56%
20%
10d median

Holding value drop: worst 5%

Bearish

224 signals

99%
5%
6d median
99%
10%
12d median
98%
15%
21d median
96%
20%
37d median

Holding value drop: worst 10%

Bearish

398 signals

98%
5%
7d median
97%
10%
15d median
96%
15%
31d median
94%
20%
44d median

Top-performing funds doubled stake

Bullish

17 signals

88%
5%
29d median
82%
10%
102d median
76%
15%
134d median
65%
20%
137d median

Most funds doubling stake vs. market cap peers

Bullish

818 signals

85%
5%
10d median
79%
10%
19d median
69%
15%
30d median
63%
20%
42d median

Net inflow top 10%, few exits

Bullish

91 signals

82%
5%
6d median
65%
10%
11d median
53%
15%
19d median
47%
20%
28d median

Net inflow: top 10% of sector

Bullish

158 signals

78%
5%
5d median
64%
10%
14d median
53%
15%
17d median
48%
20%
21d median

Call option value: 3× sector average

Bullish

18 signals

78%
5%
3d median
72%
10%
7d median
67%
15%
8d median
56%
20%
9d median

Top-10 holder growth: top 10% of sector

Bullish

16 signals

75%
5%
37d median
69%
10%
78d median
56%
15%
78d median
50%
20%
89d median

New positions: top 10% of sector

Bullish

34 signals

74%
5%
8d median
56%
10%
21d median
47%
15%
27d median
47%
20%
63d median

New positions: 3× sector average

Bullish

5 signals

60%
5%
1d median
20%
10%
22d median
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.