Trend-Following Backtester · Guide · backtest 한국어

equity · HK

CK Infrastructure Holdings Limited backtest

10 trend-following strategies were compared on the full daily history of CK Infrastructure Holdings Limited. 1 beat buy-and-hold CAGR; Donchian 채널 돌파 ranks first by Sharpe, matching the main backtester.

Data 2000-01-04 ~ 2026-07-31daily bars 6,623 (26.6 years)Costs 0.5%Venue HKEXMonthly snapshot 2026-07-31

Results by strategy

1 of 10 beat buy and hold (CAGR 5.5%, drawdown -56.0%).

Sharpe leader (same as main): Donchian 채널 돌파 — CAGR 5.9%, MDD -52.6%, Sharpe 0.37, 91% exposure.

No strategy retained at least 75% of buy-and-hold CAGR while reducing drawdown by both 20% relatively and 5 percentage points absolutely.

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
Donchian 채널 돌파
entryN=4, exitN=71
5.9%-52.6%0.370.114.6x8991%
EMA 크로스오버
fast=54, slow=147
4.0%-33.3%0.310.122.8x3364%
SMA 크로스오버
fast=58, slow=188
3.6%-41.9%0.290.092.6x3363%
ROC 모멘텀
n=90, threshold=-0.09
2.8%-43.1%0.240.072.1x12787%
ADX / DI 방향성
period=24, threshold=29
0.7%-12.1%0.160.061.2x246%
Supertrend
period=10, mult=4.4
-1.1%-59.5%0.03-0.020.7x8661%
MACD
fast=20, slow=64, signal=43
-2.2%-71.5%-0.06-0.030.6x20550%
Parabolic SAR
step=0.005, maxStep=0.28
-3.8%-68.0%-0.14-0.060.4x20554%
볼린저 밴드 돌파
n=59, k=3.3
-1.4%-34.8%-0.18-0.040.7x269%
Keltner 채널 돌파
emaPeriod=59, atrPeriod=34, mult=3.4
-2.9%-59.5%-0.21-0.050.5x7222%
Buy and hold5.5%-56.0%0.340.104.1x1100%
1x 2001 2005 2009 2013 2017 2021 2025 Donchian 채널 돌파Buy and hold
Donchian 채널 돌파: Solid strategy line versus dashed buy-and-hold line. Log scale.
0% -14% -28% -42% -56% 2001 2005 2009 2013 2017 2021 2025 Buy and holdDonchian 채널 돌파
Donchian 채널 돌파 maximum drawdown -52.6% (2016-03-01 → 2020-10-29), recovered after 3,649 days.

Rules of the top strategy

A new high means a trend starting; a new low means it’s over (turtle-trading style).

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

Read next