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Finaxion Research · The golden cross (50/200) · single stocks · Recomputed 2026-09-10

Does the golden cross (50/200) work on WBD?

The golden cross (50/200) does not beat buy-and-hold on WBD: -0.4 points a year over 21 years.

Total return
268.9%
Buy and hold
302.2%
CAGR
6.4%
Sharpe
0.21
Max drawdown
-82.4%
Trades
36
Out of sample
partly
Years
21
0.9×1×5.7×10.4×20062008201020122014201620182020202220242026
StrategyWBD

Findings

  1. The golden cross (50/200) does not beat buy-and-hold on WBD: -0.4 points a year over 21 years.
  2. Against the S&P 500 over the same window: -4.7 points a year.
  3. Total return +268.9% versus +302.2% for buy-and-hold, with 36 trades.
  4. The result holds only partly out of sample.
  5. Maximum drawdown -82.4%.
  6. It beat before 2016 and stopped afterwards.
  7. It ranks #152 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 8fb75dc6eee1.

Exactly what was tested

Long while the 50-day SMA is above the 200-day SMA; flat when it is below. Next-close execution. No leverage, no stop.

How to read it

The verdict compares the strategy with buying and holding WBD 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 WBD → · Full page for The golden cross (50/200) →

How to cite

Finaxion Research (2026). Does the golden cross (50/200) work on WBD?. Daily backtest 1962-01-01–2026-08-31, artifact 8fb75dc6eee1. https://finaxion.app/en/research/golden-cross/wbd

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