Trend-Following Backtester · Guide · backtest 한국어

equity · NL

Wolters Kluwer N.V. backtest

10 trend-following strategies were compared on the full daily history of Wolters Kluwer N.V.. 3 beat buy-and-hold CAGR; ROC 모멘텀 ranks first by Sharpe, matching the main backtester. The return/drawdown alternative is ROC 모멘텀 (CAGR 9.1%, MDD -61.6%).

Data 1995-03-27 ~ 2026-07-31daily bars 8,079 (31.3 years)Costs 0.5%Venue EURONEXTMonthly snapshot 2026-07-31

Results by strategy

3 of 10 beat buy and hold (CAGR 5.2%, drawdown -81.5%).

Sharpe leader (same as main): ROC 모멘텀 — CAGR 9.1%, MDD -61.6%, Sharpe 0.54, 75% exposure.

Return/drawdown alternative: ROC 모멘텀 — CAGR is 3.8%p higher than buy and hold, while drawdown improves by 19.9%p (CAGR 9.1%, MDD -61.6%, exposure 75%).

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
ROC 모멘텀
n=228, threshold=-0.09
9.1%-61.6%0.540.1515.2x5875%
EMA 크로스오버
fast=76, slow=213
7.7%-70.6%0.480.1110.1x2070%
SMA 크로스오버
fast=34, slow=213
5.4%-67.7%0.370.085.3x4067%
Donchian 채널 돌파
entryN=66, exitN=99
4.6%-71.6%0.330.064.2x3971%
Supertrend
period=18, mult=5
2.4%-72.1%0.220.032.1x9159%
볼린저 밴드 돌파
n=54, k=2
1.1%-38.6%0.150.031.4x13336%
MACD
fast=19, slow=36, signal=17
-0.4%-64.7%0.07-0.010.9x38550%
Parabolic SAR
step=0.005, maxStep=0.08
-1.3%-58.3%0.02-0.020.7x30355%
ADX / DI 방향성
period=39, threshold=26
-0.1%-21.5%-0.02-0.001.0x183%
Keltner 채널 돌파
emaPeriod=44, atrPeriod=16, mult=2
-1.3%-68.2%-0.03-0.020.7x18539%
Buy and hold5.2%-81.5%0.320.064.9x1100%
1x 10x 1996 2000 2004 2008 2012 2016 2020 2024 ROC 모멘텀Buy and hold
ROC 모멘텀: Solid strategy line versus dashed buy-and-hold line. Log scale.
0% -20% -41% -61% -82% 1996 2000 2004 2008 2012 2016 2020 2024 Buy and holdROC 모멘텀
ROC 모멘텀 maximum drawdown -61.6% (1999-01-04 → 2004-01-12), recovered after 5,401 days.

Rules of the top strategy

Rides the trend when recent return (momentum) over a window is above a threshold.

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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