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Glossary

Backtesting

Backtesting applies an investment strategy to historical data to see how it would have performed in the past. It is a sanity check before committing real capital, though a strong backtest does not guarantee future results - market conditions change, and past patterns do not always repeat.

Why backtested screens fail live
Related terms
Automated Stock ScreeningAutomated stock screening applies a set of rules - valuation, growth, momentum, or custom signals - across an entire universe of stocks without manual...BenchmarkA benchmark is a reference index or portfolio (such as the S&P 500 or QQQ) used to judge whether an investment or strategy is performing well. "Beating...Analyst Consensus EstimateThe analyst consensus is the average forecast (for earnings, revenue, price targets, and more) across all the Wall Street analysts covering a stock. It...Buy-Side vs. Sell-Side ResearchBuy-side research is done by the firms actually investing the money - RIAs, hedge funds, asset managers - to inform their own decisions. Sell-side...
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