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fcf_turn_negative on VirnetX Holding Corp (VHC)
SIC 6794 — Patent Owners & Lessors · CIK 1082324 · default direction: short
Definition
Fires when previously-positive operating cash flow turns negative — the cash equivalent of profit_to_loss, usually more leading.
Every time the signal fired on VHC
| FY | Filing date | Event date | 1d | 5d | 20d | 60d | 252d |
|---|---|---|---|---|---|---|---|
| FY2021 | 2022-05-13 | 2022-05-13 | +0.84% | +2.52% | +14.29% | +70.59% | +5.62% |
| FY2011 | 2012-07-13 | 2012-07-13 | -0.17% | -12.90% | -32.67% | -40.62% | -53.92% |
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 | 2,337 | -0.05% | +42.62% | short | -0.14% | 35 | -0.02 |
| 5d | 2,337 | +0.06% | +41.98% | short | +0.31% | 36 | +0.02 |
| 20d | 2,312 | -0.77% | +42.08% | short | +1.36% | 40 | +0.08 |
| 60d | 2,192 | +1.98% | +47.45% | short | -1.61% | 51 | -0.05 |
| 252d | 2,148 | +15.62% | +50.33% | short | -16.85% | 103 | -0.17 |
Net PnL is direction × stock return − round-trip execution cost (5 bps half-spread + ADV-tiered borrow). See fcf_turn_negative methodology for the full audit.