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.

341
signals scored
47.8%
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%.

341 signals opened in the last 3 months · all sizes · 35–50% from what funds paid

Threshold met Not met, but profitable Open Loss

Top-performing funds doubled stake

Bullish

13 signals

69%
5%
7d median
69%
10%
14d median
62%
15%
19d median
62%
20%
19d median

Holding value drop: worst 5%

Bearish

53 signals

64%
5%
5d median
45%
10%
10d median
34%
15%
20d median
28%
20%
28d median

Holding value drop: worst 10%

Bearish

95 signals

63%
5%
7d median
45%
10%
15d median
32%
15%
20d median
25%
20%
26d median

Increased positions: 3× sector average

Bullish

4 signals

50%
5%
17d median
25%
10%
5d median
0%
15%
–
0%
20%
–

Net inflow top 10%, few exits

Bullish

26 signals

50%
5%
6d median
15%
10%
5d median
4%
15%
3d median
4%
20%
3d median

New positions: top 10% of sector

Bullish

49 signals

47%
5%
5d median
33%
10%
7d median
22%
15%
9d median
20%
20%
15d median

Top-10 holders: 3× sector average

Bullish

7 signals

43%
5%
6d median
43%
10%
15d median
29%
15%
19d median
14%
20%
32d median

Net inflow: top 10% of sector

Bullish

61 signals

43%
5%
6d median
23%
10%
7d median
13%
15%
13d median
8%
20%
16d median

Call option value: 3× sector average

Bullish

40 signals

43%
5%
5d median
33%
10%
6d median
25%
15%
8d median
20%
20%
8d median

Gross inflow: 3× sector average

Bullish

19 signals

42%
5%
10d median
26%
10%
6d median
11%
15%
12d median
11%
20%
19d median

Most funds doubling stake vs. market cap peers

Bullish

155 signals

38%
5%
5d median
27%
10%
7d median
20%
15%
10d median
14%
20%
12d median

New positions: 3× sector average

Bullish

8 signals

38%
5%
20d median
25%
10%
13d median
25%
15%
20d median
13%
20%
1d median

Top-10 holder growth: top 10% of sector

Bullish

6 signals

17%
5%
3d median
17%
10%
10d median
17%
15%
16d median
17%
20%
16d 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.