Trend-Following Backtester · Guide · backtest 한국어

equity · US

AngloGold Ashanti PLC backtest

10 trend-following strategies were compared on the full daily history of AngloGold Ashanti PLC. 2 beat buy-and-hold CAGR; Donchian 채널 돌파 ranks first by Sharpe, matching the main backtester. The return/drawdown alternative is Donchian 채널 돌파 (CAGR 9.0%, MDD -51.3%).

Data 1998-08-05 ~ 2026-07-31daily bars 7,040 (28.0 years)Costs 0.5%Venue XNYSMonthly snapshot 2026-07-31

Results by strategy

2 of 10 beat buy and hold (CAGR 4.8%, drawdown -90.7%).

Sharpe leader (same as main): Donchian 채널 돌파 — CAGR 9.0%, MDD -51.3%, Sharpe 0.47, 27% exposure.

Return/drawdown alternative: Donchian 채널 돌파 — CAGR is 4.3%p higher than buy and hold, while drawdown improves by 39.4%p (CAGR 9.0%, MDD -51.3%, exposure 27%).

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=113, exitN=28
9.0%-51.3%0.470.1811.3x4427%
SMA 크로스오버
fast=77, slow=111
7.3%-57.3%0.380.137.2x8250%
EMA 크로스오버
fast=88, slow=159
3.6%-74.9%0.280.052.7x3350%
볼린저 밴드 돌파
n=46, k=2.4
3.5%-67.8%0.260.052.6x9225%
ADX / DI 방향성
period=27, threshold=15
3.5%-73.0%0.260.052.6x19829%
ROC 모멘텀
n=89, threshold=0.11
2.8%-73.4%0.240.042.1x28636%
Supertrend
period=21, mult=4.6
2.3%-91.2%0.230.031.9x12449%
Keltner 채널 돌파
emaPeriod=39, atrPeriod=9, mult=2.1
0.2%-80.7%0.140.001.0x17430%
Parabolic SAR
step=0.015, maxStep=0.38
-6.9%-97.6%-0.04-0.070.1x51250%
MACD
fast=19, slow=59, signal=13
-7.5%-93.8%-0.05-0.080.1x35351%
Buy and hold4.8%-90.7%0.340.053.7x1100%
1x 10x 1999 2003 2007 2011 2015 2019 2023 Donchian 채널 돌파Buy and hold
Donchian 채널 돌파: Solid strategy line versus dashed buy-and-hold line. Log scale.
0% -23% -45% -68% -91% 1999 2003 2007 2011 2015 2019 2023 Buy and holdDonchian 채널 돌파
Donchian 채널 돌파 maximum drawdown -51.3% (2006-01-31 → 2009-03-04), recovered after 3,804 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 carried forward from the latest full optimization and replayed on this monthly dataset. 0.5% trading costs are included; taxes, slippage and rejected orders are not.
Re-optimize the same period and setupAll asset reports

Read next