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.

15,633
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%.

15,633 signals opened since 2013 · Small Cap · any distance from what funds paid

Threshold met Not met, but profitable Open Loss

Holding value drop: worst 5%

Bearish

2,748 signals

93%
5%
12d median
87%
10%
28d median
81%
15%
51d median
75%
20%
73d median

Holding value drop: worst 10%

Bearish

5,673 signals

92%
5%
14d median
86%
10%
33d median
81%
15%
58d median
75%
20%
85d median

Top-performing funds doubled stake

Bullish

256 signals

91%
5%
8d median
81%
10%
20d median
73%
15%
30d median
66%
20%
49d median

Most funds doubling stake vs. market cap peers

Bullish

8,245 signals

88%
5%
13d median
80%
10%
29d median
73%
15%
48d median
67%
20%
66d median

Top-10 holder growth: top 10% of sector

Bullish

121 signals

86%
5%
9d median
77%
10%
20d median
70%
15%
30d median
59%
20%
49d median

New positions: top 10% of sector

Bullish

491 signals

86%
5%
13d median
74%
10%
26d median
67%
15%
45d median
57%
20%
65d median

Top-10 holders: 3× sector average

Bullish

65 signals

85%
5%
18d median
72%
10%
49d median
55%
15%
57d median
43%
20%
64d median

Net inflow: top 10% of sector

Bullish

1,418 signals

84%
5%
10d median
75%
10%
22d median
67%
15%
38d median
59%
20%
55d median

Call option value: 3× sector average

Bullish

382 signals

84%
5%
11d median
73%
10%
31d median
65%
15%
52d median
59%
20%
71d median

Net inflow top 10%, few exits

Bullish

655 signals

83%
5%
8d median
73%
10%
19d median
66%
15%
36d median
58%
20%
52d median

New positions: 3× sector average

Bullish

106 signals

82%
5%
8d median
75%
10%
19d median
63%
15%
35d median
57%
20%
42d median

Gross inflow: 3× sector average

Bullish

227 signals

78%
5%
9d median
64%
10%
25d median
52%
15%
35d median
45%
20%
46d median

Increased positions: 3× sector average

Bullish

20 signals

65%
5%
8d median
50%
10%
22d median
20%
15%
33d median
20%
20%
39d 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.