Signal backtest

90.1% 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.

7,777
signals scored
83.8%
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% two years after opening, and the median bearish one +0.7%.

7,777 signals opened in the last 24 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

419 signals

91%
5%
16d median
83%
10%
36d median
75%
15%
57d median
69%
20%
70d median

New positions: 3× sector average

Bullish

899 signals

89%
5%
21d median
80%
10%
50d median
70%
15%
75d median
61%
20%
100d median

Top-performing funds doubled stake

Bullish

595 signals

88%
5%
13d median
78%
10%
35d median
68%
15%
47d median
61%
20%
67d median

Call option value: 3× sector average

Bullish

1,545 signals

87%
5%
20d median
77%
10%
50d median
69%
15%
73d median
62%
20%
99d median

Top-10 holders: 3× sector average

Bullish

1,204 signals

86%
5%
22d median
74%
10%
56d median
65%
15%
77d median
55%
20%
101d median

Gross inflow: 3× sector average

Bullish

1,935 signals

85%
5%
21d median
73%
10%
52d median
63%
15%
77d median
54%
20%
104d median

New positions: top 10% of sector

Bullish

2,467 signals

85%
5%
20d median
74%
10%
49d median
64%
15%
74d median
56%
20%
97d median

Increased positions: 3× sector average

Bullish

1,456 signals

84%
5%
25d median
74%
10%
59d median
64%
15%
85d median
55%
20%
121d median

Net inflow: top 10% of sector

Bullish

2,545 signals

84%
5%
20d median
74%
10%
48d median
64%
15%
73d median
55%
20%
98d median

Most funds doubling stake vs. market cap peers

Bullish

2,680 signals

84%
5%
15d median
75%
10%
36d median
67%
15%
56d median
61%
20%
76d median

Holding value drop: worst 5%

Bearish

807 signals

84%
5%
12d median
74%
10%
24d median
64%
15%
40d median
54%
20%
57d median

Holding value drop: worst 10%

Bearish

1,881 signals

83%
5%
14d median
72%
10%
28d median
61%
15%
44d median
51%
20%
64d median

Net inflow top 10%, few exits

Bullish

110 signals

78%
5%
14d median
68%
10%
27d median
61%
15%
38d median
54%
20%
74d 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.