Trend-Following Backtester · Guide · backtest 한국어

equity · CN

GEM Co., Ltd. Class A backtest

10 trend-following strategies were compared on the full daily history of GEM Co., Ltd. Class A. 3 beat buy-and-hold CAGR; MACD ranks first by Sharpe, matching the main backtester. The return/drawdown alternative is Donchian 채널 돌파 (CAGR 9.4%, MDD -46.0%).

Data 2010-01-22 ~ 2026-07-31daily bars 4,010 (16.5 years)Costs 0.5%Venue SZSEMonthly snapshot 2026-07-31

Results by strategy

3 of 10 beat buy and hold (CAGR 6.2%, drawdown -70.0%).

Sharpe leader (same as main): MACD — CAGR 10.9%, MDD -47.7%, Sharpe 0.41, 56% exposure.

Return/drawdown alternative: Donchian 채널 돌파 — CAGR is 4.7%p higher than buy and hold, while drawdown improves by 22.3%p (CAGR 9.4%, MDD -46.0%, exposure 54%).

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
MACD
fast=19, slow=71, signal=18
10.9%-47.7%0.410.235.5x11156%
EMA 크로스오버
fast=18, slow=20
10.4%-54.7%0.400.195.2x8449%
Donchian 채널 돌파
entryN=24, exitN=29
9.4%-46.0%0.380.214.4x5854%
볼린저 밴드 돌파
n=22, k=2.4
5.1%-38.0%0.340.132.3x7018%
Keltner 채널 돌파
emaPeriod=19, atrPeriod=25, mult=1.5
5.1%-35.8%0.340.142.3x9421%
Supertrend
period=24, mult=1.9
6.0%-61.1%0.300.102.6x16253%
ROC 모멘텀
n=22, threshold=-0.01
3.0%-58.8%0.230.051.6x29158%
ADX / DI 방향성
period=8, threshold=27
1.2%-45.1%0.170.031.2x21226%
Parabolic SAR
step=0.01, maxStep=0.28
-0.8%-60.0%0.11-0.010.9x16239%
SMA 크로스오버
fast=7, slow=83
-2.6%-69.7%0.05-0.040.7x7436%
Buy and hold6.2%-70.0%0.330.092.7x1100%
1x 2011 2013 2015 2017 2019 2021 2023 2025 MACDBuy and hold
MACD: Solid strategy line versus dashed buy-and-hold line. Log scale.
0% -17% -35% -52% -70% 2011 2013 2015 2017 2019 2021 2023 2025 Buy and holdMACD
MACD maximum drawdown -47.7% (2021-01-12 → 2024-02-20), recovered after 1,840 days.

Rules of the top strategy

Looks at the gap (MACD) between a short and long average crossing its own signal line.

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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