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Finaxion Research · CPAY

Which strategy works on CPAY?

On CPAY, 0 of 20 famous strategies beat buy-and-hold on daily bars; 0 of them hold out of sample.

Findings

On CPAY, 0 of 20 famous strategies beat buy-and-hold on daily bars, and 0 of them hold out of sample. The best is "Sell in May and go away" at -3.9 points a year over buying and holding CPAY, while the worst is Upper Bollinger band breakout at -21.4 points a year against buy-and-hold.

  1. On CPAY, 0 of 20 famous strategies beat buy-and-hold on daily bars; 0 of them hold out of sample.
  2. The best is “Sell in May and go away”: -3.9 points a year over buying and holding CPAY.
  3. The worst is Upper Bollinger band breakout: -21.4 points a year against buy-and-hold.

The 20 strategies, one by one

StrategyReturnBuy and holdExcess (pts/yr)Vs. S&P 500 (pts/yr)Out of sampleTrades
“Sell in May and go away”778.6%×15-3.9%+0.5%—31
The golden cross (50/200)501.3%×15-6.6%-2.2%—19
2-day RSI (the Connors rule)394.6%×15-8.0%-3.6%—371
Bounce off the lower Bollinger band226.8%×15-10.9%-6.5%—132
Only invest above the 200-day average219.4%×15-11.0%-6.6%—99
The MACD cross (12/26/9)210.4%×15-11.2%-6.8%—286
Wyckoff: buying the accumulation206.4%×15-11.3%-6.9%—86
RSI 14: buy oversold (30/70)193.4%×15-11.6%-7.2%—30
Stochastic: oversold cross (14, 3)182.1%×15-11.9%-7.5%—194
Parabolic SAR: follow the dots71.1%×15-15.2%-10.8%—348
Ichimoku: buy above the cloud51.0%×15-16.1%-11.6%—209
Supertrend: the line that changes colour27.5%×15-17.2%-12.7%—33
Kaufman’s adaptive moving average (KAMA)23.2%×15-17.4%-13.0%—557
ADX: trade only in strong trends17.5%×15-17.7%-13.3%—505
ICT / Smart Money: the order block-1.7%×15-18.8%-14.4%—4
The Turtles: 55-day breakout-9.8%×15-19.4%-14.9%—71
ICT / Smart Money: the fair value gap-10.1%×15-19.4%-15.0%—132
Heikin Ashi: follow the coloured candles-17.8%×15-20.0%-15.5%—1050
Smart Money: the liquidity sweep-21.5%×15-20.3%-15.8%—60
Upper Bollinger band breakout-34.6%×15-21.4%-17.0%—232

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