Terciles
Three equal groups after ranking by something.
Rank a set of stocks by any measure and cut the list into three equal slices: those are terciles. The top tercile holds the third with the highest value, the bottom tercile the third with the lowest. It is the coarser cousin of deciles, ten slices, and it is used when there are few observations per date, because three groups stay populated where ten would be almost empty.
The logbook uses terciles to ask whether a measure sorts outcomes. In the earnings entry the stocks were split into terciles by their reaction on announcement day, and the question was whether the worst tercile bounced. It did not; it kept falling.
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Where this word comes up
First needed in the log entry H-042 · The post-earnings bounce did not survive our cost assumptions.
From the same entry: Backtest, Basis point, Buy the dip, Correction for looking twice, Gross edge, Index membership, Large caps, Net return, Post-earnings drift, Pre-registration, Published anomaly, Quarterly results, Real costs, RSI indicator, Short side, Survivors only.