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.

18,119
signals scored
89.1%
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%.

18,119 signals opened since 2013 · Mid Cap · any distance from what funds paid

Threshold met Not met, but profitable Open Loss

New positions: 3× sector average

Bullish

250 signals

93%
5%
13d median
85%
10%
37d median
78%
15%
63d median
72%
20%
79d median

Most funds doubling stake vs. market cap peers

Bullish

8,917 signals

92%
5%
14d median
86%
10%
34d median
81%
15%
57d median
75%
20%
78d median

Increased positions: 3× sector average

Bullish

39 signals

90%
5%
11d median
77%
10%
53d median
69%
15%
84d median
62%
20%
126d median

Top-10 holders: 3× sector average

Bullish

232 signals

89%
5%
13d median
81%
10%
34d median
71%
15%
71d median
61%
20%
99d median

Top-performing funds doubled stake

Bullish

556 signals

89%
5%
13d median
81%
10%
35d median
73%
15%
61d median
65%
20%
79d median

Net inflow top 10%, few exits

Bullish

756 signals

88%
5%
10d median
81%
10%
27d median
75%
15%
49d median
69%
20%
82d median

Top-10 holder growth: top 10% of sector

Bullish

377 signals

88%
5%
11d median
81%
10%
23d median
75%
15%
35d median
68%
20%
50d median

Net inflow: top 10% of sector

Bullish

3,396 signals

88%
5%
14d median
79%
10%
31d median
72%
15%
56d median
64%
20%
80d median

Holding value drop: worst 5%

Bearish

2,284 signals

87%
5%
13d median
79%
10%
32d median
71%
15%
56d median
63%
20%
85d median

Holding value drop: worst 10%

Bearish

5,095 signals

86%
5%
16d median
77%
10%
40d median
69%
15%
70d median
61%
20%
103d median

Call option value: 3× sector average

Bullish

958 signals

85%
5%
12d median
75%
10%
27d median
66%
15%
46d median
58%
20%
65d median

New positions: top 10% of sector

Bullish

1,710 signals

85%
5%
14d median
76%
10%
35d median
68%
15%
60d median
58%
20%
76d median

Gross inflow: 3× sector average

Bullish

729 signals

84%
5%
14d median
72%
10%
36d median
62%
15%
57d median
53%
20%
82d 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.