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Cyfrowy Polsat SA backtest

10 trend-following strategies were compared on the full daily history of Cyfrowy Polsat SA. 0 beat buy-and-hold CAGR; ROC 모멘텀 ranks first by Sharpe, matching the main backtester. The return/drawdown alternative is Keltner 채널 돌파 (CAGR 1.1%, MDD -11.7%).

Data 2008-05-06 ~ 2026-07-31daily bars 4,675 (18.2 years)Costs 0.5%Venue GPWMonthly snapshot 2026-07-31

Results by strategy

0 of 10 beat buy and hold (CAGR 1.4%, drawdown -74.2%).

Sharpe leader (same as main): ROC 모멘텀 — CAGR 0.4%, MDD -4.9%, Sharpe 0.24, 0% exposure.

CAGR reference leader: Keltner 채널 돌파 — CAGR 1.1%, MDD -11.7%, exposure 2%.

Return/drawdown alternative: Keltner 채널 돌파 — CAGR is 1.0%p lower than buy and hold, while drawdown improves by 69.4%p (CAGR 1.1%, MDD -11.7%, exposure 2%).

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=4, threshold=0.14
0.4%-4.9%0.240.091.1x160%
Keltner 채널 돌파
emaPeriod=7, atrPeriod=19, mult=2.5
1.1%-11.7%0.240.101.2x162%
Donchian 채널 돌파
entryN=40, exitN=79
-1.0%-60.8%0.08-0.020.8x3765%
SMA 크로스오버
fast=39, slow=207
-0.9%-52.7%0.06-0.020.8x3551%
EMA 크로스오버
fast=66, slow=173
-1.4%-54.7%0.04-0.030.8x2756%
볼린저 밴드 돌파
n=21, k=3.1
-0.3%-30.8%-0.01-0.010.9x224%
ADX / DI 방향성
period=32, threshold=21
-0.4%-20.0%-0.06-0.020.9x184%
Parabolic SAR
step=0.005, maxStep=0.18
-3.6%-68.4%-0.07-0.050.5x14350%
Supertrend
period=28, mult=3.1
-4.2%-73.9%-0.10-0.060.5x10151%
MACD
fast=23, slow=30, signal=21
-4.7%-81.0%-0.11-0.060.4x22151%
Buy and hold1.4%-74.2%0.200.021.3x1100%
1x 2009 2012 2015 2018 2021 2024 Keltner 채널 돌파ROC 모멘텀Buy and hold
ROC 모멘텀 (Sharpe leader), Keltner 채널 돌파 (CAGR reference), Buy and hold.
0% -19% -37% -56% -74% 2009 2012 2015 2018 2021 2024 Buy and holdKeltner 채널 돌파ROC 모멘텀
ROC 모멘텀 maximum drawdown -4.9% (2024-11-27 → 2026-01-07), prior peak not yet recovered.

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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