Which markets does Parabolic SAR: follow the dots work on?

There is no asset class where Parabolic SAR: follow the dots works consistently; it does least badly on forex pairs: 3 of 40 (8%).

Where does Parabolic SAR: follow the dots not work?

It does worst on single stocks: it beats in 6 of 904.

Does Parabolic SAR: follow the dots hold out of sample?

Of the 8 daily markets where it beats, 1 hold out of sample (12%).

Does Parabolic SAR: follow the dots depend on exact parameters?

No neighbouring parameter beats the index: the published setting is a point, not a region.

Which timeframe suits Parabolic SAR: follow the dots best?

It improves as the bar gets longer: on 5-minute bars it beats in 0 of 118; on 4-hour bars, in 2 of 118.

Does Parabolic SAR: follow the dots still work today?

It has aged: in 39 markets it beat in the first half of the history and stopped in the second; the reverse happens in only 18.

What is the best market for Parabolic SAR: follow the dots?

Its best daily market is AXON: +15.2 points a year over the S&P 500 across 25 years, 502 trades.

What is the worst market for Parabolic SAR: follow the dots?

Its worst daily market is NCLH: -23.0 points a year against the S&P 500.

FINAXIONResearch

Finaxion Research · Trend following · Updated 2026-09-10

Parabolic SAR: follow the dots

Works in few markets

Its ground: forex, on 4-hour, on a single asset — it beats in 10 of 961 combinations.

Markets beaten

8 / 489

Vs. index

-10.4 pts/yr

Total return

17.1%

Sharpe

-0.23

Max drawdown

-59.1%

Trades

829

StrategyBuy and hold

Detail on the index (S&P 500), which is the reference for the chart, the robustness suite and the neighbours.

What works and what does not in Parabolic SAR: follow the dots?

There is no asset class where Parabolic SAR: follow the dots works consistently; it does least badly on forex pairs: 3 of 40 (8%).
It does worst on single stocks: it beats in 6 of 904.
Of the 8 daily markets where it beats, 1 hold out of sample (12%).
No neighbouring parameter beats the index: the published setting is a point, not a region.
It improves as the bar gets longer: on 5-minute bars it beats in 0 of 118; on 4-hour bars, in 2 of 118.
It has aged: in 39 markets it beat in the first half of the history and stopped in the second; the reverse happens in only 18.
Its best daily market is AXON: +15.2 points a year over the S&P 500 across 25 years, 502 trades.
Its worst daily market is NCLH: -23.0 points a year against the S&P 500.

Findings derived from the full panel. Each carries its number and its denominator; the computations are reproducible with artifact 566419a0cec8.

The promise

“When the SAR dots flip below price, buy. When they flip above, sell. No thinking required.”

Exactly what we tested

Long while the close is above the SAR (0.02, 0.02, 0.2); exit when the close drops below the SAR.

Why

Its ground: forex, on 4-hour, on a single asset — it beats in 10 of 961 combinations.
Daily, it beats buy-and-hold in 8 of 489 markets: MSTR, AKAM, ON, PSKY, GBPUSD=X, USDCHF=X, NZDUSD=X, LTC-USD.
Indices and ETFs: 0 of 6.
Balanced portfolio: Dow 30 (max 10 positions): 0 of 1.
Balanced portfolio: Nasdaq-100 (max 20 positions): 0 of 1.
Balanced portfolio: S&P 500 (max 25 positions): 0 of 1.
Stocks, one by one (Dow 30 + Nasdaq-100): 4 of 470.
Forex: 3 of 8.
Crypto: 1 of 2.
Out of sample without overfitting in 1 of the 8 markets it beats.
Neighbouring parameter sets that also beat (on the index): 0%.

In every market

Indices and ETFs · 0 / 6 · against the s&p 500 over the same window: 0 / 6

Asset	Return	Buy and hold	Difference	Vs. S&P 500 (CAGR/yr)	Trades	Out of sample
S&P 500 (SPY)	+17.1%	+3081.0%	-3064.0%	-10.4 pts	829	OVERFIT
Nasdaq-100 (QQQ)	+52.5%	+1565.8%	-1513.4%	-7.0 pts	678	OVERFIT
Russell 2000 (IWM)	+65.5%	+801.9%	-736.4%	-6.7 pts	652	OVERFIT
Emergentes (EEM)	+21.9%	+830.9%	-809.1%	-10.8 pts	511	OVERFIT
Oro (GLD)	+214.2%	+820.3%	-606.0%	-5.5 pts	442	OVERFIT
Bonos 20 años (TLT)	-2.4%	+131.2%	-133.6%	-11.4 pts	521	OVERFIT

Balanced portfolio: Dow 30 (max 10 positions) · 0 / 1 · against the s&p 500 over the same window: 0 / 1

Asset	Return	Buy and hold	Difference	Vs. S&P 500 (CAGR/yr)	Trades	Out of sample
Dow 30 (cartera) (30 · max 10)	+1093.4%	+3081.0%	-1987.6%	-3.2 pts	14088	—

Balanced portfolio: Nasdaq-100 (max 20 positions) · 0 / 1 · against the s&p 500 over the same window: 0 / 1

Asset	Return	Buy and hold	Difference	Vs. S&P 500 (CAGR/yr)	Trades	Out of sample
Nasdaq-100 (cartera) (98 · max 20)	+1758.5%	+3081.0%	-1322.5%	-1.8 pts	29739	—

Balanced portfolio: S&P 500 (max 25 positions) · 0 / 1 · against the s&p 500 over the same window: 0 / 1

Asset	Return	Buy and hold	Difference	Vs. S&P 500 (CAGR/yr)	Trades	Out of sample
S&P 500 (cartera) (498 · max 25)	+35.9%	+3081.0%	-3045.2%	-9.9 pts	40509	—

Stocks, one by one (Dow 30 + Nasdaq-100) · 4 / 470 · against the s&p 500 over the same window: 19 / 216

Asset	Return	Buy and hold	Difference	Vs. S&P 500 (CAGR/yr)	Trades	Out of sample
AAPL	+11154.2%	+322813.1%	-311658.8%	before 1993	992	MARGINAL
AMGN	+873.1%	+187272.6%	-186399.4%	before 1993	952	OVERFIT
AMZN	+4489.8%	+265196.1%	-260706.4%	+4.3 pts	634	MARGINAL
AXP	-74.5%	+27029.4%	-27103.9%	before 1993	1221	OVERFIT
BA	+5703.9%	+108724.7%	-103020.7%	before 1993	1384	MARGINAL
CAT	+3730.8%	+172708.3%	-168977.4%	before 1993	1378	MARGINAL
CRM	+896.7%	+5992.9%	-5096.2%	-0.0 pts	465	MARGINAL
CSCO	+178.7%	+222956.6%	-222777.9%	before 1993	822	OVERFIT
CVX	+11.2%	+68037.6%	-68026.4%	before 1993	1452	OVERFIT
DIS	+1270.7%	+189847.3%	-188576.6%	before 1993	1407	OVERFIT
GOOGL	+1930.3%	+13534.3%	-11604.0%	+3.4 pts	472	MARGINAL
GS	+86.8%	+2027.1%	-1940.4%	-6.2 pts	627	OVERFIT
HD	+815.7%	+1985758.9%	-1984943.1%	before 1993	1002	OVERFIT
HON	-68.8%	+21058.8%	-21127.6%	before 1993	1458	OVERFIT
IBM	+523.1%	+16203.8%	-15680.7%	before 1993	1423	OVERFIT
JNJ	+377.9%	+445196.6%	-444818.7%	before 1993	1435	OVERFIT
JPM	+1430.0%	+34522.5%	-33092.5%	before 1993	1006	MARGINAL
KO	+266.8%	+199349.6%	-199082.8%	before 1993	1443	OVERFIT
MCD	+958.9%	+236707.0%	-235748.1%	before 1993	1346	MARGINAL
MMM	+110.6%	+31160.0%	-31049.4%	before 1993	1448	OVERFIT
MRK	+886.2%	+233375.1%	-232488.9%	before 1993	1405	OVERFIT
MSFT	+1100.8%	+859506.0%	-858405.2%	before 1993	943	MARGINAL
NKE	+172.9%	+32003.7%	-31830.8%	before 1993	992	OVERFIT
NVDA	+5530.6%	+587720.8%	-582190.2%	+7.0 pts	589	OVERFIT
PG	-41.2%	+59706.6%	-59747.9%	before 1993	1512	OVERFIT
SHW	+15.1%	+231766.6%	-231751.5%	before 1993	1046	OVERFIT
TRV	+554.1%	+12287.7%	-11733.7%	before 1993	1115	OVERFIT
UNH	+1162.6%	+353381.4%	-352218.8%	before 1993	915	OVERFIT
V	-19.7%	+2961.1%	-2980.8%	-13.3 pts	423	INCONCLUSIVE
WMT	+1435.6%	+915365.3%	-913929.8%	before 1993	1176	MARGINAL
ABNB	n/a · history < 10y (5.7y)
ADBE	+270.0%	+147731.1%	-147461.1%	before 1993	879	OVERFIT
ADI	-48.3%	+81534.0%	-81582.4%	before 1993	1034	OVERFIT
ADP	+80.8%	+74205.9%	-74125.1%	before 1993	1081	OVERFIT
ADSK	+383.1%	+58084.6%	-57701.4%	before 1993	889	MARGINAL
AEP	+516.7%	+13797.6%	-13281.0%	before 1993	1448	OVERFIT
ALAB	n/a · history < 10y (2.4y)
ALNY	+319.1%	+3338.4%	-3019.3%	-4.4 pts	498	MARGINAL
AMAT	+13.8%	+664974.8%	-664961.0%	before 1993	1050	OVERFIT
AMD	+1328.1%	+14863.3%	-13535.1%	before 1993	977	OVERFIT
APP	n/a · history < 10y (5.4y)
ARM	n/a · history < 10y (3.0y)
ASML	+90.4%	+96277.5%	-96187.0%	-8.9 pts	660	OVERFIT
AVGO	+309.0%	+32512.1%	-32203.1%	-6.1 pts	390	INCONCLUSIVE
AXON	+25803.4%	+123065.2%	-97261.8%	+15.2 pts	502	MARGINAL
BKNG	+141.2%	+922.2%	-781.0%	-5.3 pts	592	OVERFIT
BKR	-74.3%	+933.9%	-1008.1%	before 1993	916	OVERFIT
CCEP	+160.9%	+7081.8%	-6920.9%	before 1993	906	OVERFIT
CDNS	+158.8%	+16839.0%	-16680.2%	before 1993	855	OVERFIT
CEG	n/a · history < 10y (4.6y)
CMCSA	-63.8%	+47049.9%	-47113.7%	before 1993	1023	OVERFIT
COST	-23.1%	+12800.7%	-12823.8%	before 1993	910	OVERFIT
CPRT	+245.7%	+21554.9%	-21309.3%	-7.0 pts	707	OVERFIT
CRWD	n/a · history < 10y (7.2y)
CSX	-67.2%	+40426.1%	-40493.3%	before 1993	1051	OVERFIT
CTAS	+1144.9%	+123411.3%	-122266.4%	before 1993	949	OVERFIT
DASH	n/a · history < 10y (5.7y)
DDOG	n/a · history < 10y (6.9y)
DXCM	+763.4%	+3002.6%	-2239.1%	-0.6 pts	474	OVERFIT
EA	n/a · history < 10y (9.0y)
EXC	+854.1%	+17730.6%	-16876.4%	before 1993	1156	MARGINAL
FANG	+123.5%	+1406.8%	-1283.3%	-8.8 pts	322	INCONCLUSIVE
FAST	+663.8%	+262350.7%	-261686.9%	before 1993	870	MARGINAL
FER	+90.1%	+593.7%	-503.6%	-10.1 pts	122	INCONCLUSIVE
FTNT	+353.6%	+10184.6%	-9831.0%	-4.8 pts	387	INCONCLUSIVE
GEHC	n/a · history < 10y (3.7y)
GILD	+312.3%	+33594.8%	-33282.4%	before 1993	769	OVERFIT
HONA	n/a · history < 10y (0.2y)
IDXX	+298.4%	+58789.5%	-58491.1%	before 1993	744	OVERFIT
INTC	+670.3%	+49216.9%	-48546.6%	before 1993	1048	OVERFIT
INTU	+158.5%	+15430.2%	-15271.7%	-7.9 pts	760	OVERFIT
ISRG	+8490.2%	+18484.9%	-9994.7%	+10.1 pts	552	OVERFIT
KDP	+117.1%	+1090.2%	-973.2%	-7.4 pts	443	INCONCLUSIVE
KHC	-48.9%	-42.2%	-6.8%	-20.2 pts	253	INCONCLUSIVE
KLAC	-72.6%	+289399.1%	-289471.7%	before 1993	1030	OVERFIT
LIN	+27.2%	+10777.0%	-10749.8%	before 1993	787	OVERFIT
LITE	+93.6%	+5280.9%	-5187.4%	-8.1 pts	247	INCONCLUSIVE
LRCX	+4.4%	+159814.6%	-159810.1%	before 1993	940	OVERFIT
MAR	+1.0%	+2539.5%	-2538.5%	-8.9 pts	666	OVERFIT
MCHP	+70.4%	+41961.5%	-41891.2%	-9.2 pts	768	OVERFIT
MDLZ	-45.7%	+461.4%	-507.1%	-11.8 pts	593	OVERFIT
MELI	+61.5%	+6911.0%	-6849.6%	-8.6 pts	429	INCONCLUSIVE
META	-35.6%	+1410.2%	-1445.8%	-18.3 pts	324	INCONCLUSIVE
MNST	+1826.1%	+61968.9%	-60142.8%	before 1993	714	OVERFIT
MPWR	+227.4%	+15002.1%	-14774.8%	-5.4 pts	522	OVERFIT
MRVL	+292.7%	+1645.0%	-1352.3%	-3.1 pts	582	OVERFIT
MSTR	+23667.6%	+1158.6%	+22509.0%	+12.4 pts	587	OVERFIT
MU	+1088.8%	+70877.8%	-69789.0%	before 1993	928	OVERFIT
NFLX	+2471.9%	+67643.2%	-65171.3%	+4.0 pts	509	MARGINAL
NXPI	+5.6%	+1721.2%	-1715.5%	-14.4 pts	362	INCONCLUSIVE
ODFL	-35.7%	+36444.7%	-36480.4%	before 1993	792	OVERFIT
ORLY	+1161.0%	+55255.7%	-54094.7%	-3.0 pts	692	MARGINAL
PANW	+161.2%	+4215.4%	-4054.2%	-7.9 pts	311	INCONCLUSIVE
PCAR	+1147.1%	+57106.4%	-55959.3%	before 1993	988	OVERFIT
PDD	n/a · history < 10y (8.1y)
PEP	-69.7%	+37760.7%	-37830.4%	before 1993	1271	OVERFIT
PLTR	n/a · history < 10y (5.9y)
PYPL	-40.8%	+44.7%	-85.5%	-18.9 pts	254	INCONCLUSIVE
QCOM	+614.7%	+50430.1%	-49815.4%	before 1993	763	OVERFIT
REGN	+207.7%	+3718.3%	-3510.6%	before 1993	756	OVERFIT
ROP	+90.6%	+26003.6%	-25913.0%	before 1993	785	OVERFIT
ROST	+393.0%	+55801.1%	-55408.2%	before 1993	920	GENERALIZED
SBUX	-16.7%	+43019.5%	-43036.3%	before 1993	803	OVERFIT
SHOP	+253.2%	+8568.8%	-8315.6%	-2.0 pts	261	INCONCLUSIVE
SNDK	n/a · history < 10y (1.5y)
SNPS	-72.5%	+5482.1%	-5554.6%	before 1993	793	OVERFIT
STX	+6408.6%	+15614.6%	-9206.0%	+7.9 pts	522	OVERFIT
TER	-60.1%	+31309.8%	-31369.9%	before 1993	1152	OVERFIT
TMUS	-26.7%	+318.0%	-344.6%	-12.5 pts	433	INCONCLUSIVE
TRI	+23.0%	+578.4%	-555.5%	-9.8 pts	538	OVERFIT
TSLA	+385.3%	+23002.8%	-22617.5%	-4.9 pts	353	INCONCLUSIVE
TTWO	+43.1%	+5509.7%	-5466.6%	-8.8 pts	624	OVERFIT
TXN	+0.8%	+38040.6%	-38039.8%	before 1993	1242	OVERFIT
VRTX	+574.4%	+12000.4%	-11426.0%	before 1993	719	MARGINAL
WBD	+51.9%	+302.2%	-250.2%	-9.1 pts	477	OVERFIT
WDAY	+78.7%	+305.5%	-226.8%	-10.5 pts	296	INCONCLUSIVE
WDC	+155.9%	+66202.2%	-66046.3%	before 1993	1028	MARGINAL
XEL	+1150.7%	+7388.9%	-6238.2%	before 1993	1186	OVERFIT
A	+50.4%	+486.3%	-435.9%	-6.8 pts	591	OVERFIT
ABBV	+85.9%	+1156.0%	-1070.1%	-10.2 pts	289	INCONCLUSIVE
ABT	-64.1%	+62056.2%	-62120.3%	before 1993	1064	OVERFIT
ACGL	-39.4%	+4268.0%	-4307.4%	-12.2 pts	697	OVERFIT
ACN	+87.4%	+1726.5%	-1639.1%	-7.0 pts	559	OVERFIT
ADM	-78.1%	+9265.6%	-9343.8%	before 1993	1040	OVERFIT
AEE	-19.5%	+813.9%	-833.4%	-10.1 pts	684	OVERFIT
AES	+531.4%	+647.5%	-116.1%	before 1993	780	OVERFIT
AFL	+312.8%	+205848.4%	-205535.6%	before 1993	1014	OVERFIT
AIG	-54.0%	+468.3%	-522.2%	before 1993	1148	OVERFIT
AIZ	+139.1%	+1585.5%	-1446.4%	-6.9 pts	524	OVERFIT
AJG	+6026.2%	+41899.5%	-35873.3%	before 1993	879	MARGINAL
AKAM	+43.2%	-25.2%	+68.4%	-7.2 pts	552	OVERFIT
ALB	-59.9%	+3091.3%	-3151.2%	-13.7 pts	732	OVERFIT
ALGN	+49.6%	+846.9%	-797.3%	-7.3 pts	522	OVERFIT
ALL	+14.6%	+3674.2%	-3659.7%	-10.4 pts	766	OVERFIT
ALLE	+17.7%	+265.9%	-248.2%	-12.7 pts	298	INCONCLUSIVE
AMCR	-36.9%	+100.6%	-137.5%	-18.2 pts	227	INCONCLUSIVE
AME	+62.2%	+25325.0%	-25262.9%	before 1993	952	OVERFIT
AMP	+76.9%	+2154.1%	-2077.2%	-8.4 pts	486	OVERFIT
AMT	+12.8%	+1310.2%	-1297.3%	-8.6 pts	655	OVERFIT
ANET	+441.0%	+5592.8%	-5151.8%	+1.1 pts	260	INCONCLUSIVE
AON	+33.9%	+29815.0%	-29781.2%	before 1993	1029	OVERFIT
AOS	+571.3%	+13924.9%	-13353.6%	before 1993	901	OVERFIT
APA	-25.1%	+2417.2%	-2442.3%	before 1993	1026	OVERFIT
APD	-14.2%	+20722.2%	-20736.4%	before 1993	1055	OVERFIT
APH	+671.3%	+146951.6%	-146280.3%	before 1993	770	OVERFIT
APO	+50.2%	+1845.9%	-1795.7%	-11.3 pts	364	INCONCLUSIVE
APTV	-14.5%	+174.0%	-188.4%	-16.3 pts	344	INCONCLUSIVE
ARE	+81.8%	+624.3%	-542.5%	-7.6 pts	667	OVERFIT
ARES	+200.6%	+1191.9%	-991.3%	-4.6 pts	290	INCONCLUSIVE
ATO	+37.7%	+13696.4%	-13658.6%	before 1993	971	OVERFIT
AVB	+16.9%	+42.3%	-25.4%	-13.6 pts	244	INCONCLUSIVE
AVY	-47.6%	+8544.4%	-8592.0%	before 1993	1139	OVERFIT
AWK	+11.0%	+950.9%	-939.9%	-11.3 pts	433	INCONCLUSIVE
AZO	+515.5%	+40631.8%	-40116.3%	before 1993	764	OVERFIT
BAC	+2006.7%	+4053.1%	-2046.4%	before 1993	1118	MARGINAL
BALL	+2902.2%	+49568.6%	-46666.3%	before 1993	1170	OVERFIT
BAX	-89.4%	+1778.4%	-1867.8%	before 1993	976	OVERFIT
BBY	+3292.9%	+89506.6%	-86213.8%	before 1993	890	OVERFIT
BDX	-58.7%	+21440.4%	-21499.0%	before 1993	1205	OVERFIT
BEN	+740.2%	+130378.8%	-129638.6%	before 1993	958	OVERFIT
BF-B	+286.9%	+14873.5%	-14586.6%	before 1993	998	MARGINAL
BG	+49.9%	+1105.5%	-1055.6%	-7.9 pts	544	OVERFIT
BIIB	-5.7%	+6832.8%	-6838.5%	before 1993	731	OVERFIT
BLDR	+91.3%	+393.7%	-302.4%	-8.0 pts	460	OVERFIT
BLK	+86.3%	+13724.5%	-13638.2%	-6.4 pts	615	OVERFIT
BMY	-60.0%	+23662.6%	-23722.6%	before 1993	1219	OVERFIT
BNY	+758.6%	+32230.3%	-31471.7%	before 1993	1132	OVERFIT
BR	+161.5%	+1234.2%	-1072.8%	-5.9 pts	449	INCONCLUSIVE
BRK-B	-59.6%	+2072.5%	-2132.2%	-13.3 pts	674	OVERFIT
BRO	+4005.5%	+76212.8%	-72207.3%	before 1993	900	OVERFIT
BSX	-52.6%	+1028.2%	-1080.8%	before 1993	732	OVERFIT
BX	+91.1%	+1023.3%	-932.2%	-7.4 pts	428	INCONCLUSIVE
BXP	-55.5%	+888.9%	-944.4%	-12.2 pts	685	OVERFIT
C	-23.8%	+1897.9%	-1921.7%	before 1993	1104	OVERFIT
CAH	+4379.2%	+39284.8%	-34905.6%	before 1993	908	OVERFIT
CARR	n/a · history < 10y (6.5y)
CASY	+123.9%	+80461.2%	-80337.3%	before 1993	920	OVERFIT
CB	+260.5%	+6587.6%	-6327.1%	-6.9 pts	766	OVERFIT
CBOE	+251.0%	+1060.1%	-809.0%	-6.6 pts	383	INCONCLUSIVE
CBRE	+521.8%	+2283.8%	-1762.0%	-2.4 pts	488	OVERFIT
CCI	-81.3%	+899.9%	-981.2%	-14.8 pts	651	OVERFIT
CCL	+14.1%	+1154.4%	-1140.3%	before 1993	854	OVERFIT
CDW	+149.6%	+858.2%	-708.6%	-7.3 pts	295	INCONCLUSIVE
CF	+136.9%	+5815.9%	-5679.0%	-6.9 pts	495	OVERFIT
CFG	+9.3%	+349.9%	-340.6%	-13.1 pts	270	INCONCLUSIVE
CHD	+286.7%	+93736.5%	-93449.8%	before 1993	997	OVERFIT
CHRW	+23.1%	+4307.6%	-4284.5%	-8.6 pts	621	OVERFIT
CHTR	-21.9%	+335.5%	-357.4%	-15.6 pts	364	INCONCLUSIVE
CI	+143.1%	+12980.8%	-12837.8%	before 1993	951	OVERFIT
CIEN	+87.6%	+195.6%	-108.0%	-7.7 pts	624	OVERFIT
CINF	+2859.4%	+41545.9%	-38686.5%	before 1993	1012	OVERFIT
CL	-60.7%	+20919.0%	-20979.7%	before 1993	1230	OVERFIT
CLX	+11.1%	+6184.2%	-6173.1%	before 1993	1160	OVERFIT
CME	+50.4%	+6884.2%	-6833.8%	-9.6 pts	553	OVERFIT
CMG	+552.3%	+4221.6%	-3669.3%	-1.6 pts	455	OVERFIT
CMI	+6793.9%	+28968.2%	-22174.4%	before 1993	1136	OVERFIT
CMS	+128.8%	+630.8%	-502.0%	before 1993	1144	OVERFIT
CNC	+207.4%	+4388.8%	-4181.5%	-5.4 pts	523	MARGINAL
CNP	+1538.9%	+13998.0%	-12459.1%	before 1993	1424	OVERFIT
COF	-75.9%	+5724.6%	-5800.5%	-15.5 pts	718	OVERFIT
COHR	+3070.3%	+68288.9%	-65218.6%	before 1993	736	OVERFIT
COIN	n/a · history < 10y (5.4y)
COO	+389.4%	+879.8%	-490.4%	before 1993	882	OVERFIT
COP	+49.3%	+13561.7%	-13512.4%	before 1993	1006	OVERFIT
COR	+462.3%	+17062.1%	-16599.8%	-5.3 pts	697	OVERFIT
CPAY	+71.1%	+1383.7%	-1312.5%	-10.8 pts	348	INCONCLUSIVE
CPT	+93.6%	+2453.9%	-2360.3%	-8.9 pts	774	OVERFIT
CRH	-73.4%	+7617.9%	-7691.3%	before 1993	724	OVERFIT
CRL	+154.9%	+1210.2%	-1055.3%	-4.8 pts	561	OVERFIT
CSGP	+528.9%	+3390.6%	-2861.7%	-2.1 pts	613	OVERFIT
CTSH	+193.5%	+35498.3%	-35304.8%	-5.1 pts	629	OVERFIT
CTVA	n/a · history < 10y (7.3y)
CVNA	n/a · history < 10y (9.3y)
CVS	+11.8%	+15658.6%	-15646.9%	before 1993	1186	OVERFIT
D	+143.7%	+17762.4%	-17618.7%	before 1993	1054	OVERFIT
DAL	+192.0%	+339.1%	-147.0%	-5.1 pts	416	INCONCLUSIVE
DD	+23.9%	+10113.6%	-10089.7%	before 1993	1224	OVERFIT
DE	+19.9%	+101089.1%	-101069.2%	before 1993	1207	OVERFIT
DECK	-97.5%	+7024.7%	-7122.2%	-21.4 pts	680	OVERFIT
DELL	+768.1%	+4059.8%	-3291.7%	+8.9 pts	218	INCONCLUSIVE
DG	+9.2%	+550.3%	-541.0%	-13.8 pts	377	INCONCLUSIVE
DGX	+148.3%	+9626.0%	-9477.7%	-7.0 pts	651	OVERFIT
DHI	-21.8%	+13111.0%	-13132.9%	before 1993	766	OVERFIT
DHR	+909.3%	+483557.2%	-482647.9%	before 1993	1013	OVERFIT
DLR	+44.6%	+3540.7%	-3496.1%	-9.5 pts	506	OVERFIT
DLTR	+351.9%	+10731.5%	-10379.6%	-6.2 pts	666	OVERFIT
DOC	-20.9%	+6136.8%	-6157.8%	before 1993	939	OVERFIT
DOV	+631.1%	+29264.8%	-28633.7%	before 1993	1052	OVERFIT
DOW	n/a · history < 10y (7.4y)
DPZ	+299.4%	+5638.6%	-5339.2%	-4.6 pts	475	OVERFIT
DRI	+189.1%	+6998.7%	-6809.6%	-7.4 pts	694	OVERFIT
DTE	+990.7%	+35264.3%	-34273.6%	before 1993	1456	OVERFIT
DUK	+423.9%	+16239.0%	-15815.2%	before 1993	1050	OVERFIT
DVA	+353.7%	+4219.3%	-3865.5%	-5.6 pts	628	OVERFIT
DVN	+181.4%	+1411.9%	-1230.5%	before 1993	882	OVERFIT
EBAY	+657.6%	+14035.1%	-13377.4%	-1.7 pts	615	OVERFIT
ECHO	+110.3%	+227.3%	-117.0%	-7.3 pts	396	INCONCLUSIVE
ECL	+216.6%	+20174.1%	-19957.5%	before 1993	1131	OVERFIT
ED	+5378.6%	+45081.6%	-39703.1%	before 1993	1396	OVERFIT
EFX	+2475.6%	+77234.4%	-74758.8%	before 1993	983	MARGINAL
EG	+7.6%	+2975.7%	-2968.2%	-10.3 pts	717	OVERFIT
EIX	+543.4%	+14610.5%	-14067.1%	before 1993	1187	OVERFIT
EL	+142.9%	+1551.3%	-1408.5%	-7.6 pts	659	OVERFIT
ELV	+103.2%	+2326.9%	-2223.7%	-7.4 pts	554	OVERFIT
EME	+1789.4%	+59203.5%	-57414.1%	-1.5 pts	678	OVERFIT
EMR	-85.4%	+19839.1%	-19924.5%	before 1993	1254	OVERFIT
EOG	-37.4%	+9279.7%	-9317.1%	before 1993	843	OVERFIT
EQIX	-11.1%	+240.5%	-251.6%	-8.9 pts	585	OVERFIT
EQR	+4.5%	+44.2%	-39.7%	-14.8 pts	236	INCONCLUSIVE
EQT	+1049.0%	+19557.1%	-18508.2%	before 1993	1023	OVERFIT
ERIE	+893.8%	+3362.8%	-2469.1%	-2.9 pts	686	OVERFIT
ES	+141.6%	+2960.1%	-2818.5%	before 1993	1218	OVERFIT
ESS	+413.1%	+5274.8%	-4861.7%	-5.9 pts	724	OVERFIT
ETN	+5536.6%	+116541.5%	-111004.9%	before 1993	1156	OVERFIT
ETR	+39.0%	+19797.9%	-19758.9%	before 1993	1234	OVERFIT
EVRG	+126.9%	+5086.7%	-4959.9%	before 1993	1168	OVERFIT
EW	+173.2%	+6500.0%	-6326.8%	-4.3 pts	586	OVERFIT
EXE	n/a · history < 10y (5.6y)
EXPD	+548.7%	+148324.6%	-147775.9%	before 1993	905	OVERFIT
EXPE	+17.1%	+916.1%	-899.1%	-10.3 pts	458	OVERFIT
EXR	+78.0%	+2698.9%	-2620.9%	-8.7 pts	512	OVERFIT
F	+292.4%	+6752.4%	-6460.0%	before 1993	1168	OVERFIT
FCX	+774.7%	+1061.6%	-286.9%	-3.5 pts	679	OVERFIT
FDS	+143.4%	+9088.9%	-8945.6%	-7.3 pts	678	OVERFIT
FDX	-13.2%	+53776.9%	-53790.2%	before 1993	1052	OVERFIT
FDXF	n/a · history < 10y (0.3y)
FE	+42.9%	+563.0%	-520.2%	-8.2 pts	680	OVERFIT
FFIV	+206.3%	+5374.0%	-5167.7%	-4.3 pts	599	MARGINAL
FICO	+961.7%	+94747.8%	-93786.1%	before 1993	825	OVERFIT
FIS	-67.8%	+363.8%	-431.5%	-13.9 pts	560	OVERFIT
FITB	+6517.0%	+28280.0%	-21763.1%	before 1993	972	MARGINAL
FIX	+1034.2%	+11966.2%	-10932.0%	-0.8 pts	646	OVERFIT
FLEX	+1301.2%	+7898.6%	-6597.4%	-2.4 pts	692	OVERFIT
FOX	n/a · history < 10y (7.5y)
FOXA	n/a · history < 10y (7.5y)
FRT	+174.6%	+24360.2%	-24185.7%	before 1993	1158	OVERFIT
FSLR	-70.5%	+716.1%	-786.6%	-17.0 pts	444	OVERFIT
FTV	-28.9%	+100.1%	-129.1%	-18.8 pts	223	INCONCLUSIVE
GD	+1626.6%	+221689.9%	-220063.2%	before 1993	1394	MARGINAL
GDDY	+17.7%	+389.4%	-371.7%	-12.6 pts	247	INCONCLUSIVE
GE	+252.5%	+54356.2%	-54103.8%	before 1993	1476	OVERFIT
GEN	+41.9%	+12085.6%	-12043.7%	before 1993	801	OVERFIT
GEV	n/a · history < 10y (2.4y)
GIS	-48.4%	+15015.5%	-15063.9%	before 1993	1043	OVERFIT
GL	+1421.7%	+12680.6%	-11258.9%	before 1993	1026	OVERFIT
GLW	+1200.3%	+19301.2%	-18100.9%	before 1993	950	OVERFIT
GM	+62.9%	+240.1%	-177.2%	-11.3 pts	340	INCONCLUSIVE
GNRC	+34.1%	+2091.1%	-2057.0%	-12.8 pts	368	INCONCLUSIVE
GPC	-25.3%	+12785.5%	-12810.9%	before 1993	1067	OVERFIT
GPN	+72.5%	+2567.9%	-2495.4%	-6.9 pts	563	OVERFIT
GRMN	-6.1%	+5377.3%	-5383.4%	-9.2 pts	560	OVERFIT
GWW	+1422.9%	+55300.2%	-53877.3%	before 1993	1177	OVERFIT
HAL	-86.8%	+2860.8%	-2947.5%	before 1993	1193	OVERFIT
HAS	+467.2%	+201529.8%	-201062.5%	before 1993	991	OVERFIT
HBAN	-26.5%	+3799.5%	-3826.0%	before 1993	1014	OVERFIT
HCA	+184.6%	+1699.7%	-1515.2%	-7.1 pts	347	INCONCLUSIVE
HIG	-54.8%	+951.1%	-1005.9%	-13.0 pts	725	OVERFIT
HII	+313.3%	+883.6%	-570.3%	-4.5 pts	350	INCONCLUSIVE
HLT	+100.0%	+659.1%	-559.1%	-8.5 pts	285	INCONCLUSIVE
HOOD	n/a · history < 10y (5.1y)
HPE	+354.2%	+625.0%	-270.9%	+0.1 pts	240	INCONCLUSIVE
HPQ	+83.2%	+77945.5%	-77862.3%	before 1993	1382	OVERFIT
HRL	+270.1%	+19046.1%	-18776.0%	before 1993	994	OVERFIT
HSIC	+81.6%	+1913.1%	-1831.5%	-8.6 pts	709	OVERFIT
HST	+268.5%	+12843.9%	-12575.3%	before 1993	1016	OVERFIT
HSY	+86.1%	+53964.6%	-53878.5%	before 1993	1034	OVERFIT
HUBB	+8.9%	+3853.5%	-3844.6%	-10.8 pts	758	OVERFIT
HUM	+160.5%	+20168.9%	-20008.4%	before 1993	943	OVERFIT
HWM	n/a · history < 10y (9.8y)
IBKR	+292.3%	+1526.1%	-1233.8%	-3.4 pts	425	INCONCLUSIVE
ICE	+28.8%	+2307.9%	-2279.0%	-10.0 pts	473	OVERFIT
IEX	+412.6%	+12761.2%	-12348.6%	before 1993	822	OVERFIT
IFF	-46.4%	+4754.9%	-4801.3%	before 1993	1177	OVERFIT
INCY	+2163.7%	+6471.7%	-4308.1%	-0.9 pts	689	OVERFIT
INVH	n/a · history < 10y (9.6y)
IP	-69.8%	+4590.1%	-4660.0%	before 1993	1478	OVERFIT
IQV	+205.1%	+520.3%	-315.2%	-5.5 pts	287	INCONCLUSIVE
IR	n/a · history < 10y (9.3y)
IRM	+230.5%	+9911.6%	-9681.0%	-6.4 pts	656	OVERFIT
IT	+637.0%	+6431.0%	-5794.0%	-4.6 pts	722	OVERFIT
ITW	+539.6%	+51254.1%	-50714.5%	before 1993	1174	OVERFIT
IVZ	-46.0%	+1093.8%	-1139.8%	-12.7 pts	677	OVERFIT
J	+52.0%	+33544.7%	-33492.7%	before 1993	951	OVERFIT
JBHT	+232.5%	+24926.6%	-24694.1%	before 1993	924	OVERFIT
JBL	+1424.5%	+41217.7%	-39793.2%	-2.4 pts	736	OVERFIT
JCI	+74.0%	+4376.5%	-4302.5%	before 1993	878	OVERFIT
JKHY	+1384.7%	+71288.2%	-69903.5%	before 1993	891	OVERFIT
KEY	-82.2%	+1405.6%	-1487.8%	before 1993	910	OVERFIT
KEYS	+259.8%	+1042.3%	-782.5%	-2.9 pts	268	INCONCLUSIVE
KIM	+458.8%	+3036.5%	-2577.7%	before 1993	756	OVERFIT
KKR	+42.8%	+1784.9%	-1742.0%	-12.6 pts	366	INCONCLUSIVE
KMB	-34.2%	+16039.9%	-16074.1%	before 1993	1041	OVERFIT
KMI	-60.5%	+117.5%	-178.0%	-19.7 pts	372	INCONCLUSIVE
KR	+646.5%	+182706.1%	-182059.5%	before 1993	1371	OVERFIT
KVUE	n/a · history < 10y (3.3y)
L	+692.9%	+22398.8%	-21705.9%	before 1993	1010	OVERFIT
LDOS	+59.8%	+530.2%	-470.5%	-8.7 pts	434	OVERFIT
LEN	-44.8%	+29032.9%	-29077.8%	before 1993	1004	OVERFIT
LH	+135.9%	+1408.2%	-1272.3%	before 1993	757	OVERFIT
LHX	+108.1%	+8519.5%	-8411.4%	before 1993	990	OVERFIT
LII	-37.1%	+3122.4%	-3159.5%	-10.2 pts	622	OVERFIT
LLY	+673.6%	+129720.0%	-129046.5%	before 1993	1208	OVERFIT
LMT	+514.8%	+67444.7%	-66929.9%	before 1993	1392	OVERFIT
LNT	+183.8%	+9408.5%	-9224.6%	before 1993	1204	OVERFIT
LOW	+1657.3%	+77328.4%	-75671.1%	before 1993	1010	MARGINAL
LULU	+273.4%	+759.0%	-485.6%	-4.0 pts	410	INCONCLUSIVE
LUV	+596.4%	+24508.5%	-23912.1%	before 1993	986	OVERFIT
LVS	-50.3%	+50.3%	-100.6%	-14.1 pts	482	OVERFIT
LYB	+34.0%	+648.8%	-614.9%	-12.2 pts	386	INCONCLUSIVE
LYV	+282.8%	+1558.0%	-1275.2%	-4.4 pts	464	OVERFIT
MA	+427.3%	+14066.9%	-13639.6%	-2.7 pts	461	OVERFIT
MAA	-24.5%	+3525.2%	-3549.7%	-11.7 pts	756	OVERFIT
MAS	+207.7%	+7423.1%	-7215.4%	before 1993	1040	OVERFIT
MCK	+269.8%	+6946.5%	-6676.6%	-6.9 pts	699	OVERFIT
MCO	+29.5%	+7753.9%	-7724.4%	-10.2 pts	721	OVERFIT
MDT	-52.6%	+51421.0%	-51473.6%	before 1993	1156	OVERFIT
MET	-19.5%	+1176.9%	-1196.4%	-9.1 pts	626	OVERFIT
MGM	+470.8%	+1501.4%	-1030.5%	before 1993	796	MARGINAL
MKC	+208.8%	+14401.8%	-14193.0%	before 1993	1134	OVERFIT
MLM	+89.4%	+3089.6%	-3000.1%	-8.9 pts	718	OVERFIT
MO	+4203.0%	+2914781.4%	-2910578.4%	before 1993	1403	OVERFIT
MOS	-16.3%	+268.9%	-285.2%	before 1993	839	OVERFIT
MPC	+1208.7%	+2972.8%	-1764.1%	+3.9 pts	357	INCONCLUSIVE
MRNA	n/a · history < 10y (7.7y)
MRSH	+299.2%	+21192.9%	-20893.6%	before 1993	1164	OVERFIT
MS	-49.5%	+6159.1%	-6208.7%	-12.9 pts	777	OVERFIT
MSCI	+9.9%	+2406.7%	-2396.8%	-10.8 pts	420	INCONCLUSIVE
MSI	-16.3%	+79243.2%	-79259.5%	before 1993	1425	OVERFIT
MTB	+16532.6%	+105049.8%	-88517.3%	before 1993	910	OVERFIT
MTD	+185.7%	+9346.3%	-9160.6%	-5.8 pts	626	OVERFIT
NCLH	-69.0%	-34.9%	-34.1%	-23.0 pts	286	INCONCLUSIVE
NDAQ	+123.1%	+2371.2%	-2248.1%	-7.5 pts	543	OVERFIT
NDSN	+13410.8%	+37769.3%	-24358.5%	before 1993	975	OVERFIT
NEE	+858.8%	+23772.9%	-22914.0%	before 1993	1220	OVERFIT
NEM	-47.1%	+2099.8%	-2146.9%	before 1993	1009	OVERFIT
NI	+60.9%	+5234.9%	-5174.0%	before 1993	1170	OVERFIT
NOC	+812.6%	+23369.3%	-22556.7%	before 1993	961	OVERFIT
NOW	-30.8%	+2907.9%	-2938.7%	-17.5 pts	327	INCONCLUSIVE
NRG	+172.6%	+1442.6%	-1270.0%	-6.5 pts	500	OVERFIT
NSC	+25.1%	+24520.7%	-24495.6%	before 1993	1011	OVERFIT
NTAP	+3631.8%	+19659.8%	-16028.0%	+2.0 pts	676	OVERFIT
NTRS	+1444.9%	+53074.8%	-51629.9%	before 1993	956	MARGINAL
NUE	+213.8%	+70209.1%	-69995.3%	before 1993	1040	OVERFIT
NVR	+1045.2%	+61512.0%	-60466.8%	-3.2 pts	711	OVERFIT
NWS	+66.0%	+152.4%	-86.3%	-10.4 pts	303	INCONCLUSIVE
NWSA	-2.1%	+122.2%	-124.4%	-14.5 pts	311	INCONCLUSIVE
O	+155.4%	+5366.4%	-5211.0%	-8.1 pts	734	OVERFIT
OKE	+1990.0%	+19101.6%	-17111.6%	before 1993	1018	MARGINAL
OMC	+175.5%	+15677.5%	-15502.0%	before 1993	995	OVERFIT
ON	+320.1%	+208.7%	+111.3%	-2.8 pts	582	OVERFIT
ORCL	+73.4%	+296729.4%	-296656.0%	before 1993	921	OVERFIT
OTIS	n/a · history < 10y (6.5y)
OXY	-42.4%	+3580.0%	-3622.4%	before 1993	992	OVERFIT
PCG	-30.5%	+1389.7%	-1420.2%	before 1993	1230	OVERFIT
PEG	+298.3%	+18884.4%	-18586.1%	before 1993	1078	OVERFIT
PFE	+95.1%	+20062.7%	-19967.6%	before 1993	1210	OVERFIT
PFG	+17.5%	+920.1%	-902.7%	-9.5 pts	562	OVERFIT
PGR	+64288.5%	+819581.9%	-755293.4%	before 1993	949	OVERFIT
PH	+725.0%	+41129.4%	-40404.4%	before 1993	1016	OVERFIT
PHM	+65.5%	+95847.7%	-95782.1%	before 1993	986	OVERFIT
PLD	-60.3%	+1782.5%	-1842.8%	-12.5 pts	677	OVERFIT
PM	+80.5%	+785.7%	-705.1%	-9.0 pts	415	INCONCLUSIVE
PNC	+1367.4%	+37937.9%	-36570.4%	before 1993	1090	OVERFIT
PNR	+1283.8%	+11510.8%	-10227.1%	before 1993	1086	OVERFIT
PNW	+289.0%	+2247.6%	-1958.5%	before 1993	1182	OVERFIT
PODD	+290.4%	+831.5%	-541.1%	-3.5 pts	434	INCONCLUSIVE
PPG	+186.6%	+21327.4%	-21140.9%	before 1993	1039	OVERFIT
PPL	+458.4%	+7311.8%	-6853.5%	before 1993	1034	MARGINAL
PRU	-74.6%	+767.8%	-842.4%	-15.5 pts	574	OVERFIT
PSA	+69.7%	+13958.7%	-13889.0%	before 1993	1029	OVERFIT
PSKY	-2.7%	-34.8%	+32.1%	-11.2 pts	463	OVERFIT
PSX	+392.5%	+1071.7%	-679.2%	-2.8 pts	330	INCONCLUSIVE
PTC	+14.1%	+8443.5%	-8429.4%	before 1993	813	OVERFIT
PWR	+2834.6%	+8155.1%	-5320.6%	+3.4 pts	638	OVERFIT
Q	n/a · history < 10y (0.8y)
RCL	+274.3%	+4611.6%	-4337.3%	-6.9 pts	734	OVERFIT
REG	-27.3%	+2046.5%	-2073.8%	-11.8 pts	744	OVERFIT
RF	+282.8%	+7230.0%	-6947.2%	before 1993	978	OVERFIT
RJF	+641.4%	+52691.1%	-52049.6%	before 1993	928	OVERFIT
RL	-37.9%	+1376.9%	-1414.8%	-11.1 pts	644	OVERFIT
RMD	+3241.0%	+43254.4%	-40013.4%	+1.1 pts	627	OVERFIT
ROK	+108.0%	+57325.7%	-57217.7%	before 1993	996	OVERFIT
ROL	-33.0%	+36503.9%	-36536.9%	before 1993	1038	OVERFIT
RSG	+97.4%	+1977.7%	-1880.3%	-6.4 pts	633	OVERFIT
RTX	-21.8%	+231131.9%	-231153.7%	before 1993	1474	OVERFIT
RVTY	+37.7%	+25547.2%	-25509.5%	before 1993	1161	OVERFIT
SBAC	+1384.1%	+2259.6%	-875.6%	+1.9 pts	617	OVERFIT
SCHW	+115.9%	+45501.9%	-45386.0%	before 1993	868	OVERFIT
SJM	-77.4%	+1119.0%	-1196.3%	-15.6 pts	707	OVERFIT
SLB	-84.1%	+1125.4%	-1209.5%	before 1993	1041	OVERFIT
SMCI	+166.4%	+4155.7%	-3989.3%	-5.9 pts	402	INCONCLUSIVE
SNA	-75.8%	+12522.0%	-12597.8%	before 1993	1174	OVERFIT
SO	+139.6%	+32617.4%	-32477.7%	before 1993	1032	OVERFIT
SOLV	n/a · history < 10y (2.4y)
SPG	+29.4%	+5330.6%	-5301.2%	-10.1 pts	752	OVERFIT
SPGI	+590.9%	+140503.3%	-139912.4%	before 1993	1167	OVERFIT
SRE	-62.7%	+1463.0%	-1525.7%	-12.3 pts	694	OVERFIT
STE	-79.8%	+15491.4%	-15571.2%	before 1993	753	OVERFIT
STLD	+168.2%	+7831.8%	-7663.6%	-6.6 pts	684	OVERFIT
STT	+8584.6%	+199686.1%	-191101.5%	before 1993	979	OVERFIT
STZ	+33.7%	+10007.0%	-9973.2%	before 1993	741	OVERFIT
SW	-22.1%	+775.0%	-797.0%	-13.4 pts	208	INCONCLUSIVE
SWK	-49.0%	+5887.9%	-5936.9%	before 1993	1004	OVERFIT
SWKS	-94.7%	+1317.3%	-1412.0%	before 1993	874	OVERFIT
SYF	+55.9%	+325.2%	-269.3%	-10.2 pts	266	INCONCLUSIVE
SYK	+362.3%	+430371.4%	-430009.2%	before 1993	1026	OVERFIT
SYY	+2380.8%	+115885.9%	-113505.1%	before 1993	1063	OVERFIT
T	-14.8%	+10219.8%	-10234.6%	before 1993	963	OVERFIT
TAP	-98.4%	+518.8%	-617.1%	before 1993	1075	OVERFIT
TDG	+66.3%	+13285.3%	-13219.0%	-8.5 pts	480	OVERFIT
TDY	+94.0%	+7164.6%	-7070.6%	-5.9 pts	612	OVERFIT
TECH	+9.5%	+79246.8%	-79237.3%	before 1993	823	OVERFIT
TEL	+30.0%	+671.1%	-641.0%	-9.4 pts	436	INCONCLUSIVE
TFC	+1069.7%	+10226.4%	-9156.7%	before 1993	998	MARGINAL
TGT	+49.9%	+90566.5%	-90516.5%	before 1993	1161	OVERFIT
TJX	-51.5%	+36154.4%	-36206.0%	before 1993	916	OVERFIT
TKO	+121.3%	+1638.9%	-1517.5%	-5.8 pts	574	OVERFIT
TMO	+311.0%	+36784.3%	-36473.3%	before 1993	1017	OVERFIT
TPL	+25606.8%	+75277.1%	-49670.4%	before 1993	905	MARGINAL
TPR	-13.3%	+7766.6%	-7779.9%	-9.2 pts	602	OVERFIT
TRGP	+742.2%	+2202.9%	-1460.7%	+0.2 pts	379	INCONCLUSIVE
TRMB	+5.9%	+3366.4%	-3360.5%	before 1993	729	OVERFIT
TROW	+387.8%	+35932.6%	-35544.8%	before 1993	876	OVERFIT
TSCO	+195.3%	+15199.0%	-15003.8%	-7.5 pts	712	OVERFIT
TSN	+23.9%	+4340.8%	-4316.9%	before 1993	924	OVERFIT
TT	+886.9%	+49748.2%	-48861.3%	before 1993	1028	OVERFIT
TTD	n/a · history < 10y (9.9y)
TXT	+584.3%	+4901.2%	-4316.9%	before 1993	1154	MARGINAL
TYL	+62.8%	+43359.1%	-43296.2%	before 1993	913	OVERFIT
UAL	-48.2%	+240.6%	-288.9%	-14.3 pts	458	OVERFIT
UBER	n/a · history < 10y (7.3y)
UDR	+195.1%	+14119.5%	-13924.4%	before 1993	952	OVERFIT
UHS	+3297.5%	+15293.2%	-11995.7%	before 1993	938	OVERFIT
ULTA	+2.8%	+1721.3%	-1718.5%	-10.8 pts	417	INCONCLUSIVE
UNP	+35.8%	+30311.4%	-30275.5%	before 1993	1073	OVERFIT
UPS	-79.7%	+233.2%	-312.9%	-14.3 pts	615	OVERFIT
URI	+2841.8%	+7088.3%	-4246.5%	+3.1 pts	622	MARGINAL
USB	+6937.7%	+44799.0%	-37861.3%	before 1993	1062	OVERFIT
VEEV	+555.3%	+668.8%	-113.5%	+1.6 pts	271	INCONCLUSIVE
VICI	n/a · history < 10y (8.7y)
VLO	+614.9%	+23394.0%	-22779.0%	before 1993	978	OVERFIT
VLTO	n/a · history < 10y (2.9y)
VMC	+7437.0%	+48759.3%	-41322.3%	before 1993	1134	OVERFIT
VRSK	+102.2%	+648.8%	-546.6%	-10.2 pts	385	INCONCLUSIVE
VRSN	+992.8%	+5322.0%	-4329.2%	-0.6 pts	629	OVERFIT
VRT	n/a · history < 10y (8.1y)
VST	n/a · history < 10y (9.9y)
VTR	+62.9%	+1496.8%	-1433.9%	-8.1 pts	679	OVERFIT
VTRS	-72.8%	+1568.8%	-1641.6%	before 1993	957	OVERFIT
VZ	-40.8%	+4889.1%	-4929.9%	before 1993	983	OVERFIT
WAB	+82.8%	+4137.7%	-4054.9%	-8.8 pts	691	OVERFIT
WAT	+116.4%	+10865.4%	-10749.0%	-8.0 pts	681	OVERFIT
WEC	+297.4%	+23656.8%	-23359.3%	before 1993	1084	OVERFIT
WELL	+170.5%	+58774.1%	-58603.6%	before 1993	1027	OVERFIT
WFC	+924.0%	+63452.2%	-62528.2%	before 1993	1196	OVERFIT
WM	+654.9%	+8471.2%	-7816.3%	before 1993	844	OVERFIT
WMB	-72.6%	+11974.1%	-12046.7%	before 1993	999	OVERFIT
WSM	+29.6%	+69865.8%	-69836.2%	before 1993	925	OVERFIT
WST	+5180.6%	+79208.6%	-74028.0%	before 1993	907	MARGINAL
WTW	-43.8%	+1181.6%	-1225.4%	-11.6 pts	563	OVERFIT
WY	-80.5%	+1781.4%	-1861.9%	before 1993	1196	OVERFIT
WYNN	+84.3%	+1217.6%	-1133.3%	-8.8 pts	514	OVERFIT
XOM	-44.1%	+183657.9%	-183702.0%	before 1993	1486	OVERFIT
XYL	+62.3%	+455.0%	-392.7%	-11.9 pts	348	INCONCLUSIVE
XYZ	+113.1%	+527.5%	-414.4%	-7.4 pts	233	INCONCLUSIVE
YUM	-43.0%	+4282.5%	-4325.5%	-11.3 pts	639	OVERFIT
ZBH	-21.2%	+292.2%	-313.4%	-10.6 pts	547	OVERFIT
ZBRA	+311.4%	+8617.7%	-8306.2%	before 1993	744	OVERFIT
ZTS	-43.0%	+179.3%	-222.3%	-18.7 pts	315	INCONCLUSIVE

Forex · 3 / 8 · against the s&p 500 over the same window: 0 / 8

Asset	Return	Buy and hold	Difference	Vs. S&P 500 (CAGR/yr)	Trades	Out of sample
EUR/USD	-18.3%	-3.1%	-15.2%	-11.9 pts	558	OVERFIT
GBP/USD	-13.0%	-21.2%	+8.2%	-11.6 pts	534	OVERFIT
USD/JPY	+22.0%	+40.2%	-18.2%	-9.6 pts	675	OVERFIT
USD/MXN	-1.1%	+49.9%	-51.1%	-11.1 pts	571	OVERFIT
AUD/USD	-27.7%	-6.6%	-21.1%	-12.8 pts	497	OVERFIT
USD/CAD	-28.0%	+1.7%	-29.7%	-12.6 pts	569	OVERFIT
USD/CHF	-22.3%	-41.4%	+19.1%	-12.2 pts	554	OVERFIT
NZD/USD	-2.0%	-8.1%	+6.1%	-11.1 pts	527	OVERFIT

Crypto · 1 / 2 · against the s&p 500 over the same window: 2 / 2

Asset	Return	Buy and hold	Difference	Vs. S&P 500 (CAGR/yr)	Trades	Out of sample
Bitcoin	+2385.9%	+17075.3%	-14689.5%	+6.6 pts	325	INCONCLUSIVE
Ether	n/a · history < 10y (8.8y)
Litecoin	+2350.2%	+859.3%	+1490.8%	+6.5 pts	302	INCONCLUSIVE
Solana	n/a · history < 10y (6.4y)
Cardano	n/a · history < 10y (8.8y)
Dogecoin	n/a · history < 10y (8.8y)

And intraday?

5-minute to 4-hour bars, every asset from where intraday history exists (stocks 2016, forex 2003, crypto 2015), against holding that same asset. Difference versus buy-and-hold. No walk-forward (see protocol).

Asset	5 min	15 min	1 hour	4 hours	Daily
Litecoin	-1348.2%	-1348.2%	-1348.2%	-1331.5%	+1490.8%
Solana	n/a	n/a	n/a	n/a	n/a
Cardano	n/a	n/a	n/a	n/a	n/a
Dogecoin	n/a	n/a	n/a	n/a	n/a
EUR/USD	-87.7%	-85.4%	-74.1%	-19.6%	-15.2%
GBP/USD	-87.5%	-85.2%	-57.3%	-7.7%	+8.2%
USD/JPY	-136.0%	-128.3%	-90.6%	-7.6%	-18.2%
AUD/USD	—	—	—	—	-21.1%
USD/CAD	-136.7%	-134.8%	-86.2%	-19.6%	-29.7%
USD/CHF	-85.1%	-84.0%	-44.4%	-19.5%	+19.1%
NZD/USD	-82.5%	-81.8%	-66.4%	-4.3%	+6.1%
S&P 500 (SPY)	-454.0%	-453.6%	-417.9%	-320.2%	-3064.0%
Nasdaq-100 (QQQ)	-705.1%	-704.8%	-649.8%	-537.1%	-1513.4%
Russell 2000 (IWM)	-307.3%	-307.2%	-276.5%	-219.5%	-736.4%
Emergentes (EEM)	-269.1%	-268.5%	-227.3%	-143.5%	-809.1%
Oro (GLD)	-397.4%	-396.4%	-324.1%	-223.9%	-606.0%
Bonos 20 años (TLT)	-91.8%	-91.6%	-75.4%	-16.3%	-133.6%
AAPL	-1349.6%	-1348.6%	-1135.0%	-1054.0%	-311658.8%
AMGN	-379.1%	-379.0%	-334.5%	-186.0%	-186399.4%
AMZN	-836.5%	-835.8%	-705.3%	-667.5%	-260706.4%
AXP	-573.8%	-573.0%	-484.2%	-465.1%	-27103.9%
BA	-166.5%	-165.5%	-57.2%	+199.3%	-103020.7%
CAT	-1513.0%	-1511.8%	-1307.0%	-1186.9%	-168977.4%
CRM	-339.5%	-339.3%	-281.6%	-95.8%	-5096.2%
CSCO	-570.4%	-570.2%	-518.5%	-455.4%	-222777.9%
CVX	-358.2%	-358.0%	-336.6%	-251.1%	-68026.4%
DIS	-114.8%	-114.5%	-96.9%	-51.0%	-188576.6%
GOOGL	-920.8%	-920.4%	-853.5%	-827.6%	-11604.0%
GS	-723.2%	-722.8%	-579.8%	-523.4%	-1940.4%
HD	-324.2%	-323.7%	-295.0%	-130.8%	-1984943.1%
HON	-280.6%	-280.3%	-249.6%	-166.7%	-21127.6%
IBM	-286.6%	-286.1%	-251.5%	-108.9%	-15680.7%
JNJ	-357.5%	-357.3%	-311.8%	-228.4%	-444818.7%
JPM	-742.2%	-741.9%	-704.1%	-609.8%	-33092.5%
KO	-293.4%	-293.2%	-263.0%	-197.3%	-199082.8%
MCD	-285.6%	-285.1%	-236.9%	-210.9%	-235748.1%
MMM	-200.3%	-200.1%	-166.5%	-79.7%	-31049.4%
MRK	-412.7%	-412.5%	-381.1%	-235.3%	-232488.9%
MSFT	-1077.0%	-1076.5%	-1016.7%	-980.1%	-858405.2%
NKE	-74.3%	-74.1%	-60.4%	-31.5%	-31830.8%
NVDA	-27586.0%	-27582.4%	-26843.8%	-25655.7%	-582190.2%
PG	-246.9%	-246.7%	-205.6%	-199.2%	-59747.9%
SHW	-449.0%	-448.5%	-419.5%	-383.1%	-231751.5%
TRV	-422.1%	-421.7%	-400.7%	-317.1%	-11733.7%
UNH	-401.4%	-400.8%	-351.4%	-280.5%	-352218.8%
V	-543.9%	-543.8%	-504.6%	-460.9%	-2980.8%
WMT	-607.6%	-607.2%	-557.4%	-490.9%	-913929.8%
ABNB	n/a	n/a	n/a	n/a	n/a
ADBE	-317.0%	-316.8%	-289.2%	-210.6%	-147461.1%
ADI	-814.6%	-814.1%	-781.5%	-731.1%	-81582.4%
ADP	-441.3%	-441.0%	-411.8%	-275.3%	-74125.1%
ADSK	-432.2%	-431.7%	-379.3%	-347.3%	-57701.4%
AEP	-305.4%	-305.0%	-258.8%	-229.0%	-13281.0%
ALAB	n/a	n/a	n/a	n/a	n/a
ALNY	-254.9%	-253.9%	-158.2%	-36.8%	-3019.3%
AMAT	-2817.9%	-2817.2%	-2695.4%	-2354.0%	-664961.0%
AMD	-16807.9%	-16804.0%	-16176.9%	-15401.8%	-13535.1%
APP	n/a	n/a	n/a	n/a	n/a
ARM	n/a	n/a	n/a	n/a	n/a
ASML	-2158.7%	-2158.3%	-2050.2%	-1865.4%	-96187.0%
AVGO	-3403.2%	-3399.9%	-3099.6%	-3232.5%	-32203.1%
AXON	-3569.4%	-3566.9%	-2644.1%	-2884.0%	-97261.8%
BKNG	-421.6%	-421.0%	-369.2%	-342.1%	-781.0%
BKR	n/a	n/a	n/a	n/a	-1008.1%
CCEP	-415.8%	-415.4%	-380.8%	-266.2%	-6920.9%
CDNS	-1658.0%	-1657.3%	-1547.6%	-1407.2%	-16680.2%
CEG	n/a	n/a	n/a	n/a	n/a
CMCSA	-135.8%	-135.7%	-120.0%	-108.6%	-47113.7%
COST	-707.4%	-706.8%	-603.6%	-491.5%	-12823.8%
CPRT	-700.6%	-700.0%	-627.9%	-414.7%	-21309.3%
CRWD	n/a	n/a	n/a	n/a	n/a
CSX	-696.6%	-695.7%	-674.6%	-518.8%	-40493.3%
CTAS	-1031.2%	-1030.0%	-965.8%	-833.3%	-122266.4%
DASH	n/a	n/a	n/a	n/a	n/a
DDOG	n/a	n/a	n/a	n/a	n/a
DXCM	-462.8%	-462.0%	-388.0%	-152.8%	-2239.1%
EA	—	—	—	—	n/a
EXC	-318.9%	-318.3%	-295.0%	-220.6%	-16876.4%
FANG	-393.3%	-392.8%	-342.7%	-249.2%	-1283.3%
FAST	-656.9%	-656.6%	-625.6%	-533.1%	-261686.9%
FER	n/a	n/a	n/a	n/a	-503.6%
FTNT	-2745.6%	-2745.2%	-2543.8%	-2400.1%	-9831.0%
GEHC	n/a	n/a	n/a	n/a	n/a
GILD	-214.0%	-213.8%	-201.7%	-162.2%	-33282.4%
HONA	n/a	n/a	n/a	n/a	n/a
IDXX	-780.4%	-779.4%	-758.7%	-642.8%	-58491.1%
INTC	-333.1%	-332.8%	-256.4%	-144.2%	-48546.6%
INTU	-414.2%	-413.2%	-303.3%	-369.6%	-15271.7%
ISRG	-612.6%	-611.8%	-541.5%	-502.3%	-9994.7%
KHC	-56.8%	-56.6%	-40.8%	-0.8%	-6.8%
KLAC	-3063.6%	-3062.8%	-2958.7%	-2681.1%	-289471.7%
LIN	n/a	n/a	n/a	n/a	-10749.8%
LITE	-4008.1%	-4006.3%	-3934.1%	-3907.2%	-5187.4%
LRCX	-4481.4%	-4479.8%	-4360.0%	-3923.4%	-159810.1%
MAR	-594.3%	-593.2%	-535.9%	-515.6%	-2538.5%
MCHP	-391.6%	-391.1%	-320.8%	-190.9%	-41891.2%
MDLZ	-182.0%	-181.8%	-161.6%	-135.5%	-507.1%
MELI	-1800.1%	-1798.5%	-1646.7%	-1590.8%	-6849.6%
META	-570.4%	-570.1%	-521.9%	-479.0%	-1445.8%
MNST	-194.8%	-194.2%	-166.7%	-36.5%	-60142.8%
MPWR	-2250.5%	-2249.9%	-2200.0%	-2092.4%	-14774.8%
MRVL	-2679.8%	-2679.6%	-2437.0%	-2545.1%	-1352.3%
MSTR	-743.9%	-743.8%	-368.6%	+741.7%	+22509.0%
MU	-6675.8%	-6674.8%	-6380.6%	-5814.2%	-69789.0%
NFLX	-743.2%	-742.9%	-682.5%	-387.4%	-65171.3%
NXPI	-300.5%	-299.9%	-279.3%	-268.0%	-1715.5%
ODFL	-1063.8%	-1063.1%	-922.1%	-797.6%	-36480.4%
ORLY	-539.4%	-539.1%	-500.0%	-429.5%	-54094.7%
PANW	-1299.9%	-1299.5%	-1096.8%	-886.5%	-4054.2%
PCAR	-580.1%	-579.9%	-540.9%	-516.8%	-55959.3%
PDD	n/a	n/a	n/a	n/a	n/a
PEP	-196.8%	-196.5%	-183.2%	-138.2%	-37830.4%
PLTR	n/a	n/a	n/a	n/a	n/a
PYPL	-155.8%	-155.7%	-136.7%	-67.5%	-85.5%
QCOM	-438.6%	-438.1%	-355.0%	-234.8%	-49815.4%
REGN	-155.2%	-155.1%	-136.1%	-94.6%	-3510.6%
ROP	-244.2%	-243.9%	-228.4%	-182.2%	-25913.0%
ROST	-465.7%	-465.3%	-420.0%	-295.1%	-55408.2%
SBUX	-232.0%	-231.7%	-194.3%	-160.6%	-43036.3%
SHOP	-5944.8%	-5943.6%	-4178.3%	-5792.3%	-8315.6%
SNDK	n/a	n/a	n/a	n/a	n/a
SNPS	-985.3%	-984.7%	-900.5%	-856.6%	-5554.6%
STX	-3652.5%	-3649.0%	-3564.9%	-2867.2%	-9206.0%
TER	-1857.0%	-1856.2%	-1722.8%	-1219.4%	-31369.9%
TMUS	-489.7%	-489.5%	-444.1%	-341.6%	-344.6%
TRI	-362.7%	-362.0%	-323.4%	-254.5%	-555.5%
TSLA	-2341.6%	-2336.7%	-1368.9%	-1451.2%	-22617.5%
TTWO	-688.9%	-688.7%	-673.3%	-596.6%	-5466.6%
TXN	-637.7%	-637.3%	-614.2%	-505.7%	-38039.8%
VRTX	-440.8%	-440.4%	-408.0%	-395.1%	-11426.0%
WBD	n/a	n/a	n/a	n/a	-250.2%
WDAY	-263.3%	-263.1%	-211.9%	-214.2%	-226.8%
WDC	-1171.5%	-1169.7%	-1095.5%	-994.9%	-66046.3%
XEL	-295.9%	-295.5%	-267.1%	-180.9%	-6238.2%
KDP	-278.1%	-277.6%	-228.6%	-206.2%	-973.2%
USD/MXN	-135.0%	-133.9%	-131.6%	-47.6%	-51.1%
Bitcoin	-18084.8%	-18084.8%	-18084.8%	-17291.3%	-14689.5%
Ether	—	—	—	—	n/a

2 / 472 · against the s&p 500 over the same window: 12 / 472

What if I nudge the parameters? (on the index)

Parameters	Return	Sharpe	Max DD	Vs. index
af_start 0.02, af_step 0.02, af_max 0.2	17.1%	-0.23	-59.1%	-3064.0%
af_start 0.01, af_step 0.01, af_max 0.1	344.3%	0.10	-52.3%	-2736.7%
af_start 0.03, af_step 0.03, af_max 0.3	-36.9%	-0.38	-72.9%	-3117.9%
af_start 0.02, af_step 0.02, af_max 0.1	102.6%	-0.10	-56.4%	-2978.4%

A rule that only works at the exact textbook numbers and dies one notch away is not an edge: it is luck.

Out of sample and robustness (on the index)

Walk-forward: OVERFIT · 0%

Deflated Sharpe: 0.13 (< 0.95)

Robustness suite: MODERATE

By halves: First half did not beat (-21.1% vs +237.3%); Second half did not beat (+48.4% vs +843.1%).

5 fold(s) scored; 0% within the robust degradation band [0.5, 1.5].

Mean OOS/IS Sharpe degradation = 0.

Deflated Sharpe 0.1326 < 0.95 — edge does not clear the multiple-trials selection-bias hurdle.

Receipt

Computed on 2026-09-10 · period: each asset from its first bar (1962-01-01 to 2026-08-31) · round-trip costs: stocks and index 10 bps, forex 2 bps, crypto 30 bps · artifact 566419a0cec8 · Finaxion engine

By market

Each market's page, ordered by annual excess over the S&P 500. The first 12 are shown; the rest are in the sitemap. See all 18 markets

Sources for the claim

Wilder (1978); Investopedia — Parabolic SAR

How to cite

Finaxion Research (2026). Parabolic SAR: follow the dots: works in few markets. Daily backtest 1962-01-01–2026-08-31, artifact 566419a0cec8. https://finaxion.app/en/research/parabolic-sar

Reproduce it with your own strategy