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.

9,172
signals scored
88%
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%.

9,172 signals opened since 2013 · Mid Cap · 5–15% from what funds paid

Threshold met Not met, but profitable Open Loss

Top-10 holders: 3× sector average

Bullish

123 signals

90%
5%
20d median
80%
10%
50d median
68%
15%
83d median
54%
20%
121d median

Most funds doubling stake vs. market cap peers

Bullish

4,260 signals

90%
5%
18d median
83%
10%
49d median
77%
15%
78d median
71%
20%
103d median

Net inflow top 10%, few exits

Bullish

353 signals

90%
5%
13d median
82%
10%
37d median
76%
15%
74d median
68%
20%
104d median

New positions: 3× sector average

Bullish

140 signals

89%
5%
15d median
80%
10%
48d median
73%
15%
83d median
65%
20%
89d median

Top-performing funds doubled stake

Bullish

312 signals

89%
5%
15d median
81%
10%
42d median
72%
15%
70d median
60%
20%
89d median

Top-10 holder growth: top 10% of sector

Bullish

176 signals

89%
5%
14d median
78%
10%
34d median
70%
15%
53d median
62%
20%
71d median

Increased positions: 3× sector average

Bullish

26 signals

88%
5%
14d median
81%
10%
77d median
73%
15%
119d median
62%
20%
136d median

Holding value drop: worst 5%

Bearish

1,161 signals

87%
5%
15d median
79%
10%
35d median
71%
15%
66d median
63%
20%
97d median

Holding value drop: worst 10%

Bearish

2,748 signals

87%
5%
19d median
78%
10%
45d median
70%
15%
79d median
62%
20%
112d median

Net inflow: top 10% of sector

Bullish

1,704 signals

86%
5%
19d median
75%
10%
46d median
67%
15%
83d median
58%
20%
115d median

Call option value: 3× sector average

Bullish

431 signals

84%
5%
19d median
70%
10%
41d median
61%
15%
63d median
51%
20%
79d median

New positions: top 10% of sector

Bullish

857 signals

83%
5%
18d median
72%
10%
46d median
64%
15%
78d median
53%
20%
94d median

Gross inflow: 3× sector average

Bullish

371 signals

82%
5%
21d median
69%
10%
49d median
60%
15%
82d median
48%
20%
116d 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.