Trend-Following Backtester · Guide · backtest 한국어

equity · BR

Hypera S.A. backtest

10 trend-following strategies were compared on the full daily history of Hypera S.A.. 5 beat buy-and-hold CAGR; EMA 크로스오버 ranks first by Sharpe, matching the main backtester. The return/drawdown alternative is SMA 크로스오버 (CAGR 9.0%, MDD -39.0%).

Data 2008-04-18 ~ 2026-07-31daily bars 4,543 (18.3 years)Costs 0.5%Venue BMFBOVESPAMonthly snapshot 2026-07-31

Results by strategy

5 of 10 beat buy and hold (CAGR 5.2%, drawdown -74.6%).

Sharpe leader (same as main): EMA 크로스오버 — CAGR 10.8%, MDD -43.3%, Sharpe 0.55, 56% exposure.

Return/drawdown alternative: SMA 크로스오버 — CAGR is 5.6%p higher than buy and hold, while drawdown improves by 31.3%p (CAGR 9.0%, MDD -39.0%, exposure 55%).

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=12, slow=54
10.8%-43.3%0.550.256.6x8056%
Donchian 채널 돌파
entryN=49, exitN=49
9.4%-50.9%0.500.195.2x3854%
SMA 크로스오버
fast=6, slow=69
9.0%-39.0%0.480.234.8x9655%
Supertrend
period=14, mult=4.4
7.5%-48.1%0.410.163.7x5658%
ADX / DI 방향성
period=20, threshold=17
5.6%-54.1%0.390.102.7x15634%
볼린저 밴드 돌파
n=35, k=2.9
3.9%-30.5%0.370.132.0x3014%
Keltner 채널 돌파
emaPeriod=38, atrPeriod=11, mult=3.4
3.8%-35.3%0.360.112.0x3013%
MACD
fast=17, slow=57, signal=19
2.5%-51.3%0.230.051.6x18951%
ROC 모멘텀
n=77, threshold=0
0.9%-71.9%0.160.011.2x19654%
Parabolic SAR
step=0.01, maxStep=0.36
-3.0%-83.2%0.00-0.040.6x25454%
Buy and hold5.2%-74.6%0.320.072.5x1100%
1x 10x 2009 2012 2015 2018 2021 2024 EMA 크로스오버Buy and hold
EMA 크로스오버: Solid strategy line versus dashed buy-and-hold line. Log scale.
0% -19% -37% -56% -75% 2009 2012 2015 2018 2021 2024 Buy and holdEMA 크로스오버
EMA 크로스오버 maximum drawdown -43.3% (2022-10-31 → 2026-05-18), 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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