← accruals_quality_low (all companies) · KFS (all signals) · all methodology
accruals_quality_low on KINGSWAY FINANCIAL SERVICES INC (KFS)
SIC 6331 — Fire, Marine & Casualty Insurance · CIK 1072627 · 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 KFS
| FY | Filing date | Event date | 1d | 5d | 20d | 60d | 252d |
|---|---|---|---|---|---|---|---|
| FY2023 | 2024-03-05 | 2024-03-05 | +0.22% | -6.77% | -9.03% | -13.98% | -19.78% |
| FY2022 | 2023-03-08 | 2023-03-08 | -1.27% | -14.70% | -15.29% | -13.73% | -14.31% |
| FY2015 | 2016-03-10 | 2016-03-10 | +0.24% | +4.71% | +13.41% | +19.06% | +35.29% |
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.