The algorithm has been walk-forward back-tested over a long period from 31st Dec 2002 to 31st Dec 2012. All back-tests carried out were out-of-sample tests and the results for each year collated using standard industry metrics. Over the back-test period, the annual Sharpe ratio ranged between 2 (worst) and 11 (best) with an average of 5. Annualized returns in all years were significantly higher than that achieved by the S&P500. In the sample comparison table below, the results of popular strategies were obtained from the American Association of Individual Investors website. Live performance of the ISO Algorithm as at 21 Dec 2015 follows.