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.

1,236
signals scored
53.4%
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%.

1,236 signals opened in the last 3 months · all sizes · 5–15% from what funds paid

Threshold met Not met, but profitable Open Loss

Holding value drop: worst 5%

Bearish

148 signals

84%
5%
11d median
64%
10%
22d median
48%
15%
33d median
30%
20%
36d median

Holding value drop: worst 10%

Bearish

343 signals

80%
5%
13d median
59%
10%
25d median
43%
15%
34d median
25%
20%
38d median

Top-10 holder growth: top 10% of sector

Bullish

68 signals

75%
5%
14d median
62%
10%
21d median
40%
15%
26d median
34%
20%
28d median

New positions: 3× sector average

Bullish

81 signals

62%
5%
14d median
46%
10%
21d median
26%
15%
28d median
19%
20%
28d median

Top-performing funds doubled stake

Bullish

58 signals

60%
5%
8d median
36%
10%
14d median
24%
15%
17d median
12%
20%
13d median

Call option value: 3× sector average

Bullish

207 signals

49%
5%
11d median
29%
10%
19d median
20%
15%
22d median
15%
20%
28d median

New positions: top 10% of sector

Bullish

349 signals

46%
5%
14d median
27%
10%
21d median
16%
15%
26d median
10%
20%
28d median

Most funds doubling stake vs. market cap peers

Bullish

410 signals

45%
5%
7d median
26%
10%
14d median
16%
15%
20d median
10%
20%
25d median

Gross inflow: 3× sector average

Bullish

228 signals

44%
5%
14d median
23%
10%
20d median
14%
15%
22d median
8%
20%
28d median

Top-10 holders: 3× sector average

Bullish

154 signals

44%
5%
15d median
23%
10%
22d median
14%
15%
29d median
9%
20%
28d median

Net inflow: top 10% of sector

Bullish

337 signals

41%
5%
13d median
23%
10%
19d median
14%
15%
26d median
9%
20%
28d median

Increased positions: 3× sector average

Bullish

174 signals

38%
5%
14d median
21%
10%
21d median
10%
15%
24d median
6%
20%
28d median

Net inflow top 10%, few exits

Bullish

27 signals

37%
5%
13d median
15%
10%
24d median
7%
15%
49d median
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.