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accruals_quality_low on Envela Corp (ELA)
SIC 5944 — Retail-Jewelry Stores · CIK 701719 · default direction: short
Definition
Fires when total accruals exceed 10% of total assets while net income is positive. Captures 'earnings of low cash quality' (Sloan accruals).
Every time the signal fired on ELA
| FY | Filing date | Event date | 1d | 5d | 20d | 60d | 252d |
|---|---|---|---|---|---|---|---|
| FY2025 | 2026-03-18 | 2026-03-18 | +31.18% | +49.96% | +46.94% | — | — |
| FY2021 | 2022-03-16 | 2022-03-16 | +3.02% | +1.86% | +9.74% | +55.68% | +62.18% |
| FY2019 | 2020-03-26 | 2020-03-26 | -4.76% | +0.79% | +46.03% | +69.44% | +107.94% |
| FY2017 | 2018-03-21 | 2018-03-21 | +4.65% | -2.33% | +0.00% | -5.81% | -50.00% |
Forward returns are stock returns from event date (next trading day after filing). Sign is raw stock direction; the trade direction is in the calibration table below.
Universe-wide calibration (this signal across all companies)
| Horizon | n events | Gross stock ret | Hit rate | Trade dir | Net PnL | Cost (bps) | r/σ net |
|---|---|---|---|---|---|---|---|
| 1d | 858 | -0.20% | +45.45% | short | -0.29% | 33 | -0.04 |
| 5d | 857 | +1.15% | +46.67% | short | -0.47% | 34 | -0.04 |
| 20d | 848 | +0.26% | +46.93% | short | +0.13% | 38 | +0.01 |
| 60d | 798 | +9.36% | +45.49% | short | -9.54% | 49 | -0.05 |
| 252d | 774 | +22.52% | +48.71% | short | -22.54% | 99 | -0.11 |
Net PnL is direction × stock return − round-trip execution cost (5 bps half-spread + ADV-tiered borrow). See accruals_quality_low methodology for the full audit.