Strategy studies
TSM Backtest: Trend-Pullback Strategy Lagged Buy-and-Hold In and Out of Sample
A backtest covering October 1, 2021, to October 21, 2026, found lower cumulative returns than buy-and-hold in both periods; the out-of-sample result used only three trades.
AiSiWhale・Published
A historical backtest of Taiwan Semiconductor Manufacturing Co.'s ADR (TSM) found that a trend-pullback strategy produced lower cumulative returns than contemporaneous buy-and-hold in both the in-sample and out-of-sample periods. The out-of-sample figures were stronger on some trade metrics, but the study said statistical confidence was low because there were only three trades.