In this article we investigate the trade-off between the compression ratio and distortion of a recently published compression technique specifically devised for multichannel electroencephalograph (EEG) signals. In our previous paper, we proved that, when singular value decomposition (SVD) is already performed for denoising or removing unwanted artifacts, it is possible to exploit the same SVD for compression purpose by achieving a compression ratio in the order of 10 and a percentage root mean square distortion in the order of 0.01 %. In this article, we successfully demonstrate how, with a negligible increase in the computational cost of the algorithm, it is possible to further improve the compression ratio by about 10 % by maintaining the same distortion level or, alternatively, to improve the compression ratio by about 50 % by still maintaining the distortion level below the 0.1 %.