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capex_spike on Global Water Resources, Inc. (GWRS)
SIC 4941 — Water Supply · CIK 1434728 · default direction: short
Definition
Fires on >50% YoY capex increase. Captures aggressive reinvestment phases — often precedes value destruction in mature industries.
Every time the signal fired on GWRS
| FY | Filing date | Event date | 1d | 5d | 20d | 60d | 252d |
|---|---|---|---|---|---|---|---|
| FY2025 | 2026-03-04 | 2026-03-04 | -13.86% | -17.49% | -15.56% | — | — |
| FY2022 | 2023-03-09 | 2023-03-09 | -2.17% | +1.16% | -1.17% | -1.07% | +0.99% |
| FY2021 | 2022-03-10 | 2022-03-10 | +1.20% | +5.86% | +4.28% | -10.63% | -20.82% |
| FY2019 | 2020-03-05 | 2020-03-05 | -3.96% | -20.74% | -19.78% | -13.99% | +36.64% |
| FY2017 | 2018-03-09 | 2018-03-09 | -0.55% | +0.93% | -0.29% | +0.35% | +8.26% |
| FY2016 | 2017-03-10 | 2017-03-10 | +2.98% | +7.44% | +3.02% | +10.78% | +10.43% |
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 | 2,295 | +0.01% | +43.27% | short | -0.06% | 32 | -0.01 |
| 5d | 2,292 | -0.85% | +41.88% | short | +0.74% | 33 | +0.06 |
| 20d | 2,258 | -1.91% | +41.67% | short | +2.05% | 36 | +0.10 |
| 60d | 2,127 | +0.65% | +44.01% | short | -0.78% | 47 | -0.02 |
| 252d | 2,092 | +14.03% | +44.93% | short | -14.91% | 97 | -0.09 |
Net PnL is direction × stock return − round-trip execution cost (5 bps half-spread + ADV-tiered borrow). See capex_spike methodology for the full audit.