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Finaxion Research · 2-day RSI (the Connors rule) · single stocks · Recomputed 2026-09-10

Does 2-day RSI (the Connors rule) work on FIS?

2-day RSI (the Connors rule) beats buy-and-hold on FIS by +2.4 points a year over 25 years.

Total return
702.1%
Buy and hold
363.8%
CAGR
8.6%
Sharpe
0.33
Max drawdown
-29.8%
Trades
638
Out of sample
overfit
Years
25
1×8.1×2002200420062008201020122014201620182020202220242026
StrategyFIS

Findings

  1. 2-day RSI (the Connors rule) beats buy-and-hold on FIS by +2.4 points a year over 25 years.
  2. Against the S&P 500 over the same window: -0.9 points a year.
  3. Total return +702.1% versus +363.8% for buy-and-hold, with 638 trades.
  4. The result does not hold out of sample: it is overfit.
  5. Maximum drawdown -29.8%.
  6. It did not beat before 2014 and started afterwards.
  7. It ranks #19 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 c0e771fe25fb.

Exactly what was tested

RSI(2) crosses below 10 → entry. RSI(2) crosses above 65 → exit. Next-close execution. No trend filter (we test the rule as it circulates).

How to read it

The verdict compares the strategy with buying and holding FIS 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 FIS → · Full page for 2-day RSI (the Connors rule) →

How to cite

Finaxion Research (2026). Does 2-day RSI (the Connors rule) work on FIS?. Daily backtest 1962-01-01–2026-08-31, artifact c0e771fe25fb. https://finaxion.app/en/research/rsi-2-connors/fis

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