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.

3,338
signals scored
91.6%
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%.

3,338 signals opened since 2013 · Mid Cap · 35–50% from what funds paid

Threshold met Not met, but profitable Open Loss

Increased positions: 3× sector average

Bullish

5 signals

100%
5%
5d median
80%
10%
6d median
60%
15%
6d median
60%
20%
75d median

New positions: 3× sector average

Bullish

28 signals

100%
5%
8d median
100%
10%
19d median
96%
15%
40d median
89%
20%
48d median

Top-performing funds doubled stake

Bullish

82 signals

95%
5%
11d median
88%
10%
22d median
82%
15%
49d median
80%
20%
56d median

Most funds doubling stake vs. market cap peers

Bullish

1,721 signals

95%
5%
8d median
91%
10%
17d median
88%
15%
30d median
85%
20%
45d median

Top-10 holder growth: top 10% of sector

Bullish

88 signals

94%
5%
8d median
92%
10%
14d median
88%
15%
24d median
81%
20%
30d median

Net inflow top 10%, few exits

Bullish

178 signals

94%
5%
7d median
88%
10%
18d median
81%
15%
24d median
75%
20%
43d median

Net inflow: top 10% of sector

Bullish

668 signals

93%
5%
7d median
88%
10%
15d median
83%
15%
24d median
78%
20%
35d median

Gross inflow: 3× sector average

Bullish

119 signals

92%
5%
8d median
78%
10%
14d median
71%
15%
32d median
62%
20%
44d median

New positions: top 10% of sector

Bullish

287 signals

88%
5%
8d median
84%
10%
18d median
78%
15%
31d median
72%
20%
42d median

Holding value drop: worst 5%

Bearish

456 signals

88%
5%
10d median
80%
10%
24d median
72%
15%
41d median
67%
20%
65d median

Holding value drop: worst 10%

Bearish

942 signals

86%
5%
12d median
76%
10%
31d median
68%
15%
50d median
61%
20%
84d median

Top-10 holders: 3× sector average

Bullish

26 signals

85%
5%
6d median
85%
10%
9d median
81%
15%
13d median
77%
20%
23d median

Call option value: 3× sector average

Bullish

181 signals

85%
5%
7d median
79%
10%
13d median
74%
15%
27d median
69%
20%
34d 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.