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.

2,203
signals scored
52.5%
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%.

2,203 signals opened in the last 3 months · all sizes · any distance from what funds paid

Threshold met Not met, but profitable Open Loss

Holding value drop: worst 10%

Bearish

600 signals

73%
5%
11d median
55%
10%
22d median
40%
15%
32d median
26%
20%
35d median

Holding value drop: worst 5%

Bearish

283 signals

73%
5%
8d median
55%
10%
21d median
41%
15%
28d median
27%
20%
32d median

Top-10 holder growth: top 10% of sector

Bullish

103 signals

73%
5%
10d median
61%
10%
20d median
42%
15%
25d median
35%
20%
28d median

Top-performing funds doubled stake

Bullish

99 signals

62%
5%
8d median
42%
10%
17d median
33%
15%
21d median
22%
20%
21d median

New positions: 3× sector average

Bullish

118 signals

60%
5%
11d median
45%
10%
20d median
31%
15%
22d median
22%
20%
26d median

Call option value: 3× sector average

Bullish

340 signals

52%
5%
7d median
34%
10%
16d median
26%
15%
18d median
20%
20%
20d median

New positions: top 10% of sector

Bullish

533 signals

51%
5%
10d median
32%
10%
17d median
21%
15%
21d median
15%
20%
22d median

Gross inflow: 3× sector average

Bullish

312 signals

46%
5%
11d median
27%
10%
17d median
17%
15%
21d median
11%
20%
22d median

Top-10 holders: 3× sector average

Bullish

191 signals

46%
5%
12d median
27%
10%
20d median
18%
15%
24d median
12%
20%
28d median

Most funds doubling stake vs. market cap peers

Bullish

821 signals

44%
5%
6d median
26%
10%
12d median
18%
15%
18d median
12%
20%
20d median

Net inflow: top 10% of sector

Bullish

536 signals

43%
5%
8d median
25%
10%
16d median
16%
15%
21d median
11%
20%
22d median

Increased positions: 3× sector average

Bullish

206 signals

41%
5%
13d median
23%
10%
21d median
13%
15%
25d median
7%
20%
28d median

Net inflow top 10%, few exits

Bullish

88 signals

40%
5%
6d median
14%
10%
7d median
6%
15%
28d median
3%
20%
3d 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.