Excel IF statement in calculated field

I am trying to create a calculated field that uses an IF statement in an Excel pivot table. I have a ratio (let's say x/y) and I need the actual returned value to be displayed if the ratio is >=0 and "<0" to be displayed if the ratio is less than zero. I have been trying the following:

=IF((x/y>0),(x/y),"<0")

It returns values for anything >0 but just gives VALUE! instead of returning "<0" for the ratio values that are less than zero. Any ideas on how to fix this?

Thanks!