Stocks
Three strategies on well-known stocks.
Momentum, MACD and Bollinger bands on 39 US and Indian stocks and indices, 2019–2024. Each page compares them with simply holding the stock, then asks whether they held up on years they were never tuned on. Most did not.
US
| Stock | Holding it returned | Its Sharpe | Held up out of sample |
|---|---|---|---|
| Apple (AAPL) | 564% | 1.21 | 0 of 3 |
| Microsoft (MSFT) | 342% | 0.97 | 1 of 3 |
| Nvidia (NVDA) | 3,875% | 1.64 | 1 of 3 |
| Amazon (AMZN) | 185% | 0.56 | 0 of 3 |
| Alphabet (GOOGL) | 260% | 0.77 | 0 of 3 |
| Meta Platforms (META) | 333% | 0.65 | 2 of 3 |
| Tesla (TSLA) | 1,853% | 1.00 | 1 of 3 |
| JPMorgan Chase | 188% | 0.63 | 2 of 3 |
| S&P 500 ETF (SPY) | 158% | 0.86 | 0 of 3 |
| Nasdaq-100 ETF (QQQ) | 243% | 0.94 | 1 of 3 |
| AMD | 542% | 0.69 | 1 of 3 |
| Netflix (NFLX) | 233% | 0.51 | 1 of 3 |
| Berkshire Hathaway (BRK-B) | 124% | 0.69 | 0 of 3 |
| Visa | 148% | 0.62 | 0 of 3 |
| Bank of America (BAC) | 104% | 0.37 | 0 of 3 |
| Walmart (WMT) | 219% | 1.00 | 0 of 3 |
| Coca-Cola (KO) | 60% | 0.40 | 1 of 3 |
| Johnson & Johnson (JNJ) | 34% | 0.26 | 0 of 3 |
| ExxonMobil (XOM) | 106% | 0.40 | 1 of 3 |
| Disney (DIS) | 5% | 0.02 | 0 of 3 |
| Dow Jones ETF (DIA) | 105% | 0.65 | 0 of 3 |
| Russell 2000 ETF (IWM) | 77% | 0.39 | 1 of 3 |
India
| Stock | Holding it returned | Its Sharpe | Held up out of sample |
|---|---|---|---|
| Reliance Industries (RELIANCE) | 143% | 0.56 | 0 of 3 |
| Tata Consultancy Services (TCS) | 146% | 0.68 | 0 of 3 |
| HDFC Bank (HDFCBANK) | 73% | 0.38 | 0 of 3 |
| Infosys (INFY) | 230% | 0.81 | 1 of 3 |
| ICICI Bank (ICICIBANK) | 262% | 0.79 | 1 of 3 |
| State Bank of India (SBIN) | 182% | 0.58 | 0 of 3 |
| ITC | 118% | 0.57 | 0 of 3 |
| Bharti Airtel (BHARTIARTL) | 462% | 1.15 | 1 of 3 |
| Larsen & Toubro (LT) | 176% | 0.67 | 0 of 3 |
| Hindustan Unilever (HINDUNILVR) | 42% | 0.27 | 1 of 3 |
| Bajaj Finance (BAJFINANCE) | 162% | 0.48 | 1 of 3 |
| Asian Paints (ASIANPAINT) | 74% | 0.39 | 1 of 3 |
| Maruti Suzuki (MARUTI) | 53% | 0.25 | 0 of 3 |
| Wipro (WIPRO) | 152% | 0.60 | 0 of 3 |
| Nifty 50 | 119% | 0.78 | 1 of 3 |
| Nifty Bank | 86% | 0.45 | 0 of 3 |
| BSE Sensex | 118% | 0.76 | 1 of 3 |
These 39 are a sample, not a limit. The workspace runs the same tests on any symbol Yahoo Finance carries: US tickers as they are (MSFT), NSE stocks with .NS (INFY.NS), BSE with .BO, indices with ^ (^NSEI).
Hypothetical results on past data, from a script in the repository that re-runs every figure. Not a recommendation to buy, sell or trade anything.