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.

641
signals scored
66%
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%.

641 signals opened in the last 6 months · all sizes · 35–50% from what funds paid

Threshold met Not met, but profitable Open Loss

Top-performing funds doubled stake

Bullish

30 signals

80%
5%
7d median
77%
10%
15d median
63%
15%
21d median
57%
20%
22d median

Increased positions: 3× sector average

Bullish

22 signals

77%
5%
11d median
50%
10%
17d median
41%
15%
35d median
36%
20%
38d median

Holding value drop: worst 10%

Bearish

249 signals

77%
5%
8d median
65%
10%
15d median
55%
15%
22d median
44%
20%
32d median

Holding value drop: worst 5%

Bearish

132 signals

75%
5%
7d median
61%
10%
14d median
53%
15%
20d median
44%
20%
29d median

Top-10 holders: 3× sector average

Bullish

19 signals

63%
5%
8d median
53%
10%
18d median
42%
15%
21d median
32%
20%
27d median

Gross inflow: 3× sector average

Bullish

43 signals

63%
5%
10d median
44%
10%
17d median
30%
15%
35d median
26%
20%
36d median

New positions: 3× sector average

Bullish

20 signals

60%
5%
11d median
40%
10%
17d median
35%
15%
18d median
25%
20%
19d median

New positions: top 10% of sector

Bullish

77 signals

60%
5%
7d median
44%
10%
12d median
31%
15%
17d median
27%
20%
21d median

Most funds doubling stake vs. market cap peers

Bullish

272 signals

60%
5%
6d median
49%
10%
13d median
42%
15%
18d median
36%
20%
26d median

Call option value: 3× sector average

Bullish

64 signals

58%
5%
6d median
45%
10%
13d median
36%
15%
18d median
28%
20%
18d median

Net inflow: top 10% of sector

Bullish

88 signals

57%
5%
6d median
39%
10%
8d median
30%
15%
20d median
23%
20%
34d median

Top-10 holder growth: top 10% of sector

Bullish

11 signals

55%
5%
18d median
55%
10%
19d median
55%
15%
22d median
55%
20%
36d median

Net inflow top 10%, few exits

Bullish

27 signals

52%
5%
5d median
19%
10%
7d median
7%
15%
40d median
4%
20%
3d 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.