Trend-Following Backtester · Guide · backtest 한국어

equity · BR

Suzano S.A. backtest

10 trend-following strategies were compared on the full daily history of Suzano S.A.. 3 beat buy-and-hold CAGR; ADX / DI 방향성 ranks first by Sharpe, matching the main backtester. The return/drawdown alternative is MACD (CAGR 20.9%, MDD -29.6%).

Data 2004-08-05 ~ 2026-07-31daily bars 5,474 (22.0 years)Costs 0.5%Venue BMFBOVESPAMonthly snapshot 2026-07-31

Results by strategy

3 of 10 beat buy and hold (CAGR 8.0%, drawdown -90.0%).

Sharpe leader (same as main): ADX / DI 방향성 — CAGR 5.1%, MDD -23.4%, Sharpe 0.50, 52% exposure.

CAGR reference leader: MACD — CAGR 20.9%, MDD -29.6%, exposure 23%.

Return/drawdown alternative: MACD — CAGR is 2.8%p lower than buy and hold, while drawdown improves by 66.7%p (CAGR 20.9%, MDD -29.6%, exposure 23%).

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
ADX / DI 방향성
period=40, threshold=26
5.1%-23.4%0.500.223.0x1052%
SMA 크로스오버
fast=17, slow=48
4.2%-54.8%0.340.082.5x5523%
Keltner 채널 돌파
emaPeriod=30, atrPeriod=20, mult=1.4
3.0%-38.0%0.270.081.9x7870%
MACD
fast=17, slow=51, signal=22
20.9%-29.6%0.230.7164.9x7923%
ROC 모멘텀
n=55, threshold=-0.03
10.1%-86.7%0.220.128.3x9182%
Donchian 채널 돌파
entryN=21, exitN=26
9.2%-86.7%0.220.116.9x4779%
EMA 크로스오버
fast=28, slow=29
1.3%-57.2%0.160.021.3x5065%
Parabolic SAR
step=0.005, maxStep=0.3
0.7%-48.6%0.140.021.2x8367%
Supertrend
period=30, mult=3.8
-3.1%-86.7%0.14-0.040.5x4477%
볼린저 밴드 돌파
n=53, k=1.6
-5.5%-86.7%0.03-0.060.3x4772%
Buy and hold8.0%-90.0%0.220.095.4x1100%
0.1 1x 10x 2005 2008 2011 2014 2017 2020 2023 2026 MACDADX / DI 방향성Buy and hold
ADX / DI 방향성 (Sharpe leader), MACD (CAGR reference), Buy and hold.
0% -23% -45% -68% -90% 2005 2008 2011 2014 2017 2020 2023 2026 Buy and holdMACDADX / DI 방향성
ADX / DI 방향성 maximum drawdown -23.4% (2018-06-06 → 2018-07-20), recovered after 91 days.

Rules of the top strategy

Looks at both the direction and the strength of the trend; holds only in a strong uptrend.

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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