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.

1,694
signals scored
86.3%
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%.

1,694 signals opened since 2013 · Micro Cap · 5–15% from what funds paid

Threshold met Not met, but profitable Open Loss

New positions: 3× sector average

Bullish

11 signals

100%
5%
53d median
64%
10%
82d median
45%
15%
82d median
45%
20%
92d median

Holding value drop: worst 5%

Bearish

443 signals

98%
5%
11d median
97%
10%
27d median
95%
15%
44d median
94%
20%
65d median

Holding value drop: worst 10%

Bearish

816 signals

97%
5%
12d median
96%
10%
28d median
94%
15%
48d median
92%
20%
73d median

Top-performing funds doubled stake

Bullish

26 signals

88%
5%
7d median
77%
10%
13d median
65%
15%
28d median
50%
20%
27d median

New positions: top 10% of sector

Bullish

39 signals

85%
5%
16d median
72%
10%
27d median
56%
15%
50d median
49%
20%
90d median

Call option value: 3× sector average

Bullish

19 signals

84%
5%
13d median
74%
10%
44d median
63%
15%
45d median
53%
20%
45d median

Top-10 holder growth: top 10% of sector

Bullish

16 signals

81%
5%
6d median
69%
10%
9d median
69%
15%
18d median
69%
20%
37d median

Most funds doubling stake vs. market cap peers

Bullish

716 signals

76%
5%
13d median
66%
10%
31d median
58%
15%
59d median
51%
20%
72d median

Net inflow top 10%, few exits

Bullish

89 signals

75%
5%
10d median
60%
10%
18d median
48%
15%
23d median
38%
20%
34d median

Gross inflow: 3× sector average

Bullish

16 signals

75%
5%
8d median
63%
10%
24d median
44%
15%
34d median
25%
20%
32d median

Net inflow: top 10% of sector

Bullish

132 signals

73%
5%
10d median
61%
10%
19d median
52%
15%
24d median
42%
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.