Trend-Following Backtester · Guide · backtest 한국어

equity · DE

Mutares SE & Co. KGaA backtest

10 trend-following strategies were compared on the full daily history of Mutares SE & Co. KGaA. 0 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 17.8%, MDD -55.3%).

Data 2008-06-10 ~ 2026-07-31daily bars 4,609 (18.1 years)Costs 0.5%Venue XETRMonthly snapshot 2026-07-31

Results by strategy

0 of 10 beat buy and hold (CAGR 19.8%, drawdown -71.8%).

Sharpe leader (same as main): Donchian 채널 돌파 — CAGR 17.8%, MDD -55.3%, Sharpe 0.56, 34% exposure.

Return/drawdown alternative: Donchian 채널 돌파 — CAGR is 2.0%p lower than buy and hold, while drawdown improves by 16.5%p (CAGR 17.8%, MDD -55.3%, exposure 34%).

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=75, exitN=10
17.8%-55.3%0.560.3219.6x5234%
MACD
fast=15, slow=51, signal=19
12.9%-60.6%0.460.219.1x16449%
Keltner 채널 돌파
emaPeriod=57, atrPeriod=13, mult=2
9.2%-62.4%0.430.154.9x5840%
ROC 모멘텀
n=64, threshold=-0.04
9.8%-63.4%0.410.155.4x18363%
Supertrend
period=25, mult=4.7
7.8%-81.8%0.390.103.9x5750%
EMA 크로스오버
fast=19, slow=34
7.5%-58.6%0.380.133.7x8648%
볼린저 밴드 돌파
n=21, k=1.4
6.0%-85.8%0.350.072.9x13441%
ADX / DI 방향성
period=18, threshold=20
6.2%-77.0%0.350.083.0x11034%
Parabolic SAR
step=0.015, maxStep=0.12
4.9%-78.2%0.320.062.4x20052%
SMA 크로스오버
fast=8, slow=93
4.4%-62.9%0.300.072.2x6944%
Buy and hold19.8%-71.8%0.570.2826.5x1100%
1x 10x 2009 2012 2015 2018 2021 2024 Donchian 채널 돌파Buy and hold
Donchian 채널 돌파: Solid strategy line versus dashed buy-and-hold line. Log scale.
0% -18% -36% -54% -72% 2009 2012 2015 2018 2021 2024 Buy and holdDonchian 채널 돌파
Donchian 채널 돌파 maximum drawdown -55.3% (2011-09-28 → 2011-11-22), recovered after 855 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