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.

4,168
signals scored
83.3%
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%.

4,168 signals opened in the last 24 months · Mid Cap · any distance from what funds paid

Threshold met Not met, but profitable Open Loss

Increased positions: 3× sector average

Bullish

5 signals

100%
5%
6d median
100%
10%
20d median
80%
15%
54d median
60%
20%
94d median

Top-10 holder growth: top 10% of sector

Bullish

120 signals

92%
5%
15d median
83%
10%
25d median
76%
15%
35d median
69%
20%
39d median

New positions: 3× sector average

Bullish

38 signals

89%
5%
15d median
82%
10%
37d median
74%
15%
59d median
66%
20%
60d median

Most funds doubling stake vs. market cap peers

Bullish

1,944 signals

88%
5%
12d median
80%
10%
26d median
74%
15%
49d median
69%
20%
66d median

Top-performing funds doubled stake

Bullish

190 signals

88%
5%
9d median
78%
10%
24d median
68%
15%
39d median
58%
20%
61d median

Net inflow top 10%, few exits

Bullish

167 signals

85%
5%
9d median
76%
10%
21d median
71%
15%
28d median
67%
20%
51d median

Net inflow: top 10% of sector

Bullish

696 signals

81%
5%
13d median
73%
10%
28d median
65%
15%
53d median
59%
20%
75d median

Gross inflow: 3× sector average

Bullish

77 signals

81%
5%
14d median
65%
10%
27d median
53%
15%
55d median
47%
20%
85d median

Call option value: 3× sector average

Bullish

261 signals

80%
5%
7d median
72%
10%
19d median
65%
15%
34d median
58%
20%
39d median

Top-10 holders: 3× sector average

Bullish

24 signals

79%
5%
6d median
71%
10%
21d median
67%
15%
40d median
63%
20%
40d median

Holding value drop: worst 5%

Bearish

597 signals

78%
5%
11d median
65%
10%
24d median
54%
15%
38d median
44%
20%
55d median

Holding value drop: worst 10%

Bearish

1,315 signals

78%
5%
13d median
65%
10%
28d median
53%
15%
43d median
43%
20%
62d median

New positions: top 10% of sector

Bullish

297 signals

76%
5%
10d median
64%
10%
24d median
55%
15%
35d median
46%
20%
47d 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.