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Finaxion Research · The MACD cross (12/26/9) · single stocks · Recomputed 2026-09-10

Does the MACD cross (12/26/9) work on ALGN?

The MACD cross (12/26/9) does not beat buy-and-hold on ALGN: -5.2 points a year over 26 years.

Total return
171.9%
Buy and hold
846.9%
CAGR
4.0%
Sharpe
0.20
Max drawdown
-84.8%
Trades
486
Out of sample
partly
Years
26
0.1×1×10×43×2002200420062008201020122014201620182020202220242026
StrategyALGN

Findings

  1. The MACD cross (12/26/9) does not beat buy-and-hold on ALGN: -5.2 points a year over 26 years.
  2. Against the S&P 500 over the same window: -4.9 points a year.
  3. Total return +171.9% versus +846.9% for buy-and-hold, with 486 trades.
  4. The result holds only partly out of sample.
  5. Maximum drawdown -84.8%.
  6. It beat before 2013 and stopped afterwards.
  7. It ranks #63 of 235 markets for this strategy by annual excess over the S&P 500.

Findings derived from the full panel. Each carries its number and its denominator; the computations are reproducible with artifact 71812b470df2.

Exactly what was tested

Long while the MACD(12,26) line is above its signal(9); flat when below. Next-close execution.

How to read it

The verdict compares the strategy with buying and holding ALGN over the same window, with round-trip costs per asset class. “Out of sample” is walk-forward: the rule is fit on one stretch and judged on the next. A result that beats in the full sample but not out of it is overfit. Full methodology in the protocol. How we test.

Open this backtest with its trades   Trades (CSV)

Every strategy on ALGN → · Full page for The MACD cross (12/26/9) →

How to cite

Finaxion Research (2026). Does the MACD cross (12/26/9) work on ALGN?. Daily backtest 1962-01-01–2026-08-31, artifact 71812b470df2. https://finaxion.app/en/research/classic-macd/algn

Not a recommendation. Past performance does not guarantee future results.