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margin_compression_severe on TETRA TECHNOLOGIES INC (TTI)
SIC 1311 — Crude Petroleum & Natural Gas · CIK 844965 · 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 TTI
| FY | Filing date | Event date | 1d | 5d | 20d | 60d | 252d |
|---|---|---|---|---|---|---|---|
| FY2019 | 2020-03-16 | 2020-03-16 | +21.21% | +3.03% | -21.21% | +72.73% | +778.79% |
| FY2016 | 2017-03-01 | 2017-03-01 | -0.22% | -9.82% | -11.83% | -24.97% | -17.14% |
| FY2014 | 2015-03-02 | 2015-03-02 | +3.64% | -4.92% | +10.20% | +17.49% | -5.46% |
| FY2010 | 2011-03-01 | 2011-03-01 | +4.68% | +11.73% | +11.21% | -3.56% | -32.52% |
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.