Academic Backtest
A growing library of walk-forward re-tests on the BTM universe.
Each study below takes a published academic momentum result and re-runs it on the same engine that powers Beat The Market, with no slug tuning and no parameter optimisation. The goal is to see whether the published finding holds up on a modern universe and whether the magnitude survives the data we actually trade on. Open either card to read the full re-test.
Paper 01 of 02
Returns to Buying Winners and Selling Losers · individual stock momentum
Does the original individual stock momentum result hold up on a thirty-three year walk-forward window across thousands of US listed stocks. Full J × K grid with eight methodology variants.
Open re-test
Paper 02 of 02
The 52-Week High and Momentum Investing · per-signal universe
Does the 52-week-high signal still beat ordinary price momentum on a modern broader universe. Three time windows and three momentum signals, each assigned its own eligible universe matching the paper’s CRSP definition where the data allows it.
Open re-test
More re-tests are on the way. Backtest results published here are for illustrative academic purposes. Past performance does not guarantee future results. Academic backtests of historical anomalies are subject to data snooping bias and may not generalise. Beat The Market publishes these re-tests under SEC Rule 202(a)(11)(D) as an information publisher, so the content is not personal investment advice, and BTM does not offer the strategies described as subscribable products.