Filings, Insiders & OwnershipExtended setexperimental liveNew

Board Member Cross Firm Overlap

Updated event-triggeredData needs: highlong onlyshort onlylong short

2013

Larcker-So-Wang 2013 JFE + Cohen-Frazzini-Malloy 2008 JF.

In plain terms

When a director sits on multiple corporate boards and trades on one, the others often follow. We trade alongside the cross-firm signal.

How it works

Firms sharing board members exhibit return co-movement and information transfer; central firms in the board-interlock network earn 4-6% annualized excess.

Live results

0 times picked on its own · 1 times inside a blend (1 beat the stock) · updated 2026-06-06

This strategy is a frequent ingredient in blends that combine a few strategies on one stock. It has contributed to 1 such blended picks (1 of which beat simply holding the stock). Picking it on its own is only one of the ways it shows up.

How its picks scored vs. buy & hold

Each pick is graded on a recent year it was never tuned on, against simply owning the same stock

Where its edge concentrates

Share of picks in each company-size group that beat buy & hold

How often it trades

Active vs. patient. Bars on the left mean it waits for rare setups; bars on the right mean it trades often

Return vs. buy & hold

How much each pick beat or trailed simply owning the stock over the test year (extreme microcap moves trimmed)

Loading substrate evidence…

Data dependencies

Daily prices
Adjusted-close OHLCV for every US-listed ticker; primary price feed.
SEC insider trades
Form-4 insider transactions with role, size, and trade direction.

Expected edge

Reported return: 4-6%/yr top-centrality
Tested over: 2000-2010 (Larcker-So-Wang)

4-6%/yr top-centrality (Larcker-So-Wang 2013).

Related families

Insider Cluster BuyingFilings, Insiders & Ownership

When several insiders buy their own stock within a short window (a 'cluster buy'), it's the most reliable insider signal. Sales are mostly noise.

Congressional Trade ClusterEconomy & Policy

When 2+ members of Congress trade the same stock the same way within a month, we go alongside the cluster because they likely share insider info from hearings.

Explore Board Member Cross Firm Overlap on alphactor.ai

See which tickers this family is currently firing on, with live signals and rankings.

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