Accounting#113tier 1live in productionNew
capex spike negative
cadence: Dailydata: mediumlong onlylong short
What it checks
Top decile of capex-to-sales underperforms by 3-4%/yr — over-investment penalty.
Mechanism
Top-decile CapEx/Sales firms underperform; signal long bottom-quintile / short top-quintile.
No production champion data for this family yet. Stats appear once the discovery pipeline promotes at least one strategy with this family tag.
Data dependencies
fundamentalsQuarterly fundamentals (income, balance, cash-flow) from FMP + SEC.
cash_flowsWorker data table — see services/worker schema.
Expected edge
- Paper alpha
- ~3-4% ann. abnormal return
Titman-Wei-Xie 2004: ~3-4% ann. abnormal.
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