← margin_compression_severe (all companies) · CNET (all signals) · all methodology
margin_compression_severe on ZW Data Action Technologies Inc. (CNET)
SIC 7370 — Services-Computer Programming, Data Processing, Etc. · CIK 1376321 · default direction: short
Definition
Fires on >500 bps year-over-year decline in operating margin. Captures the 'good business getting worse' pattern.
Every time the signal fired on CNET
| FY | Filing date | Event date | 1d | 5d | 20d | 60d | 252d |
|---|---|---|---|---|---|---|---|
| FY2020 | 2021-04-13 | 2021-04-13 | -9.09% | -27.27% | -28.93% | -32.23% | -74.79% |
| FY2018 | 2019-04-15 | 2019-04-15 | -33.33% | -32.88% | -35.16% | -38.36% | -66.67% |
| FY2017 | 2018-04-16 | 2018-04-16 | +27.53% | +16.60% | +21.05% | -1.21% | -40.89% |
| FY2014 | 2015-04-15 | 2015-04-15 | -9.25% | -9.83% | -4.05% | -38.73% | -62.43% |
| FY2012 | 2013-04-15 | 2013-04-15 | -6.67% | +1.33% | -10.67% | -30.67% | +113.33% |
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 | 2,429 | +2.00% | +36.27% | short | -2.03% | 46 | -0.02 |
| 5d | 2,429 | +3.35% | +38.74% | short | -2.80% | 47 | -0.02 |
| 20d | 2,364 | +6.26% | +38.32% | short | -4.81% | 52 | -0.03 |
| 60d | 2,266 | +78.74% | +40.47% | short | -75.14% | 65 | -0.03 |
| 252d | 2,195 | +41.39% | +39.77% | short | -31.94% | 126 | -0.09 |
Net PnL is direction × stock return − round-trip execution cost (5 bps half-spread + ADV-tiered borrow). See margin_compression_severe methodology for the full audit.