Trend-Following Backtester · Guide · backtest 한국어

equity · AU

CSL Limited backtest

10 trend-following strategies were compared on the full daily history of CSL Limited. 3 beat buy-and-hold CAGR; EMA 크로스오버 ranks first by Sharpe, matching the main backtester. The return/drawdown alternative is EMA 크로스오버 (CAGR 20.8%, MDD -37.9%).

Data 1994-05-31 ~ 2026-07-31daily bars 8,220 (32.2 years)Costs 0.5%Venue ASXMonthly snapshot 2026-07-31

Results by strategy

3 of 10 beat buy and hold (CAGR 16.8%, drawdown -77.7%).

Sharpe leader (same as main): EMA 크로스오버 — CAGR 20.8%, MDD -37.9%, Sharpe 0.91, 74% exposure.

Return/drawdown alternative: EMA 크로스오버 — CAGR is 4.0%p higher than buy and hold, while drawdown improves by 39.7%p (CAGR 20.8%, MDD -37.9%, exposure 74%).

The alternative must retain 75% of buy-and-hold CAGR, improve drawdown by at least 20% and 5 percentage points, and stay below 95% exposure; the ranking weights return retention 60% and drawdown improvement 40%.

Strategy · parametersCAGRMDDSharpeCalmarTotalTradesExposure
EMA 크로스오버
fast=55, slow=237
20.8%-37.9%0.910.55433.5x2274%
SMA 크로스오버
fast=61, slow=306
19.5%-42.0%0.860.47312.2x2074%
ROC 모멘텀
n=144, threshold=-0.1
19.8%-56.9%0.850.35336.7x8084%
Donchian 채널 돌파
entryN=83, exitN=74
15.7%-51.5%0.790.31109.7x4464%
볼린저 밴드 돌파
n=59, k=2.8
9.9%-32.5%0.720.3020.7x5430%
Supertrend
period=25, mult=4.8
12.8%-60.3%0.670.2147.8x11360%
Keltner 채널 돌파
emaPeriod=69, atrPeriod=28, mult=4
9.9%-47.4%0.650.2120.6x8241%
ADX / DI 방향성
period=34, threshold=51
4.2%-11.8%0.590.363.8x69%
Parabolic SAR
step=0.015, maxStep=0.16
2.9%-73.4%0.230.042.5x50558%
MACD
fast=24, slow=32, signal=29
-0.9%-79.7%0.05-0.010.8x32752%
Buy and hold16.8%-77.7%0.680.22148.1x1100%
1x 10x 100x 1995 1999 2003 2007 2011 2015 2019 2023 EMA 크로스오버Buy and hold
EMA 크로스오버: Solid strategy line versus dashed buy-and-hold line. Log scale.
0% -19% -39% -58% -78% 1995 1999 2003 2007 2011 2015 2019 2023 Buy and holdEMA 크로스오버
EMA 크로스오버 maximum drawdown -37.9% (2020-02-18 → 2024-04-19), prior peak not yet recovered.

Rules of the top strategy

Uses two exponential averages (more weight on recent prices) and trades their crossover.

Method and caveats

Past performance does not guarantee future returns. Parameters were selected on the same full-history sample using sharpe over 40 trials per strategy, so results contain in-sample bias. 0.5% trading costs are included; taxes, slippage and rejected orders are not.
Re-run the same setupAll asset reports

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