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.

3,961
signals scored
76.8%
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%.

3,961 signals opened in the last 12 months · all sizes · 5–15% from what funds paid

Threshold met Not met, but profitable Open Loss

Top-10 holder growth: top 10% of sector

Bullish

151 signals

82%
5%
19d median
68%
10%
26d median
56%
15%
34d median
50%
20%
42d median

Top-performing funds doubled stake

Bullish

334 signals

82%
5%
10d median
69%
10%
24d median
57%
15%
35d median
48%
20%
52d median

New positions: 3× sector average

Bullish

400 signals

81%
5%
18d median
69%
10%
40d median
56%
15%
53d median
45%
20%
61d median

Holding value drop: worst 10%

Bearish

1,001 signals

80%
5%
13d median
66%
10%
25d median
54%
15%
36d median
41%
20%
44d median

Holding value drop: worst 5%

Bearish

423 signals

80%
5%
12d median
67%
10%
22d median
55%
15%
34d median
43%
20%
42d median

Call option value: 3× sector average

Bullish

753 signals

78%
5%
16d median
64%
10%
36d median
54%
15%
51d median
45%
20%
60d median

Top-10 holders: 3× sector average

Bullish

619 signals

77%
5%
20d median
62%
10%
47d median
50%
15%
60d median
39%
20%
73d median

Most funds doubling stake vs. market cap peers

Bullish

1,354 signals

77%
5%
11d median
66%
10%
25d median
56%
15%
41d median
48%
20%
52d median

Gross inflow: 3× sector average

Bullish

961 signals

76%
5%
18d median
61%
10%
42d median
47%
15%
57d median
36%
20%
71d median

New positions: top 10% of sector

Bullish

1,238 signals

76%
5%
17d median
63%
10%
36d median
51%
15%
49d median
41%
20%
62d median

Increased positions: 3× sector average

Bullish

711 signals

76%
5%
21d median
63%
10%
49d median
49%
15%
62d median
38%
20%
78d median

Net inflow: top 10% of sector

Bullish

1,264 signals

75%
5%
18d median
62%
10%
39d median
50%
15%
56d median
40%
20%
71d median

Net inflow top 10%, few exits

Bullish

52 signals

60%
5%
15d median
42%
10%
24d median
33%
15%
32d median
25%
20%
35d 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.