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Are conditional ("if") statements still an option for formula questions in New Quizzes?

I have used "if" statements successfully in older Canvas quizzes, but for some reason, I have not been able to get New Quizzes to take this one --

IF(x-y,IF(1+(x-y)/ABS(x-y),-1,1),0)

I just want my students to be able to identify if a trend is decreasing (-1), stable (0), or increasing (1). New Quizzes is choking on something in the formula above, but I can't tell what (I've tried rewriting it in a number of ways).

Is this type of statement not an option in the new formula questions, or have I misremembered how to write it? Excel is my native formula-writing language, so that possibility is not too farfetched.

Thanks for any help you can provide.

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