The Medallion Fund has employed mathematical models to analyze and execute trades, many of them automated. The firm uses computer-based models to predict price changes. These models are based on analyzing as much data as can be gathered, then looking for non-random movements to make predictions. [1]
Renaissance Technologies' Medallion fund, which from 1988 to 2018 clocked annualized returns of 66%. After fees, those annualized returns were still remarkable, at 39%.[2]
[1] https://wealthofgeeks.com/medallion-fund/#:~:text=Algorithmi....
[2]https://money.usnews.com/investing/funds/articles/top-hedge-....