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.

214
signals scored
82.7%
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%.

214 signals opened in the last 12 months · Mega Cap · 5–15% from what funds paid

Threshold met Not met, but profitable Open Loss

Net inflow top 10%, few exits

Bullish

2 signals

100%
5%
26d median
100%
10%
47d median
100%
15%
49d median
0%
20%
–

Most funds doubling stake vs. market cap peers

Bullish

43 signals

95%
5%
9d median
91%
10%
29d median
84%
15%
41d median
79%
20%
69d median

Top-10 holder growth: top 10% of sector

Bullish

37 signals

89%
5%
19d median
81%
10%
30d median
73%
15%
35d median
70%
20%
42d median

Net inflow: top 10% of sector

Bullish

179 signals

88%
5%
19d median
77%
10%
42d median
65%
15%
52d median
58%
20%
71d median

New positions: top 10% of sector

Bullish

187 signals

88%
5%
19d median
76%
10%
39d median
64%
15%
52d median
58%
20%
70d median

Increased positions: 3× sector average

Bullish

177 signals

87%
5%
19d median
75%
10%
42d median
62%
15%
55d median
56%
20%
71d median

New positions: 3× sector average

Bullish

133 signals

86%
5%
18d median
77%
10%
42d median
65%
15%
55d median
57%
20%
70d median

Gross inflow: 3× sector average

Bullish

178 signals

86%
5%
20d median
74%
10%
44d median
61%
15%
53d median
54%
20%
71d median

Call option value: 3× sector average

Bullish

179 signals

85%
5%
21d median
73%
10%
45d median
62%
15%
56d median
56%
20%
74d median

Top-10 holders: 3× sector average

Bullish

153 signals

84%
5%
21d median
72%
10%
45d median
59%
15%
53d median
52%
20%
70d median

Top-performing funds doubled stake

Bullish

58 signals

79%
5%
11d median
67%
10%
42d median
55%
15%
52d median
52%
20%
62d median

Holding value drop: worst 10%

Bearish

16 signals

38%
5%
23d median
19%
10%
34d median
6%
15%
33d median
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.