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.

855
signals scored
77.8%
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%.

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

Threshold met Not met, but profitable Open Loss

New positions: 3× sector average

Bullish

2 signals

100%
5%
17d median
100%
10%
19d median
100%
15%
32d median
100%
20%
62d median

Top-performing funds doubled stake

Bullish

39 signals

87%
5%
8d median
72%
10%
16d median
67%
15%
25d median
59%
20%
26d median

Holding value drop: worst 10%

Bearish

373 signals

83%
5%
13d median
69%
10%
22d median
58%
15%
33d median
46%
20%
39d median

Holding value drop: worst 5%

Bearish

182 signals

82%
5%
12d median
73%
10%
25d median
60%
15%
35d median
49%
20%
41d median

Top-10 holder growth: top 10% of sector

Bullish

9 signals

78%
5%
5d median
56%
10%
4d median
33%
15%
25d median
33%
20%
25d median

Most funds doubling stake vs. market cap peers

Bullish

431 signals

75%
5%
9d median
65%
10%
20d median
55%
15%
31d median
47%
20%
38d median

New positions: top 10% of sector

Bullish

10 signals

70%
5%
21d median
50%
10%
23d median
50%
15%
24d median
40%
20%
46d median

Net inflow: top 10% of sector

Bullish

20 signals

35%
5%
7d median
15%
10%
10d median
10%
15%
123d median
5%
20%
14d median

Net inflow top 10%, few exits

Bullish

15 signals

33%
5%
2d median
13%
10%
6d median
7%
15%
14d median
7%
20%
14d median

Call option value: 3× sector average

Bullish

1 signal

0%
5%
–
0%
10%
–
0%
15%
–
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.