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.

16,664
signals scored
90.3%
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%.

16,664 signals opened since 2013 · Large Cap · 5–15% from what funds paid

Threshold met Not met, but profitable Open Loss

Net inflow top 10%, few exits

Bullish

169 signals

96%
5%
14d median
91%
10%
47d median
82%
15%
89d median
75%
20%
103d median

Top-performing funds doubled stake

Bullish

1,126 signals

92%
5%
20d median
85%
10%
52d median
77%
15%
79d median
69%
20%
108d median

Most funds doubling stake vs. market cap peers

Bullish

3,984 signals

92%
5%
23d median
85%
10%
57d median
79%
15%
90d median
73%
20%
135d median

Top-10 holder growth: top 10% of sector

Bullish

853 signals

91%
5%
18d median
84%
10%
55d median
76%
15%
93d median
68%
20%
118d median

Net inflow: top 10% of sector

Bullish

7,676 signals

90%
5%
25d median
83%
10%
62d median
74%
15%
101d median
67%
20%
148d median

New positions: top 10% of sector

Bullish

8,332 signals

90%
5%
26d median
82%
10%
64d median
74%
15%
105d median
66%
20%
155d median

Call option value: 3× sector average

Bullish

5,542 signals

90%
5%
27d median
82%
10%
65d median
74%
15%
107d median
67%
20%
158d median

Top-10 holders: 3× sector average

Bullish

4,047 signals

90%
5%
27d median
82%
10%
64d median
73%
15%
105d median
65%
20%
163d median

Gross inflow: 3× sector average

Bullish

6,825 signals

90%
5%
26d median
82%
10%
64d median
73%
15%
104d median
65%
20%
154d median

Increased positions: 3× sector average

Bullish

4,605 signals

90%
5%
29d median
82%
10%
69d median
73%
15%
116d median
64%
20%
171d median

New positions: 3× sector average

Bullish

2,264 signals

90%
5%
25d median
81%
10%
62d median
72%
15%
103d median
63%
20%
149d median

Holding value drop: worst 5%

Bearish

629 signals

87%
5%
20d median
74%
10%
49d median
63%
15%
102d median
54%
20%
133d median

Holding value drop: worst 10%

Bearish

1,834 signals

85%
5%
24d median
73%
10%
57d median
62%
15%
104d median
52%
20%
141d 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.