Basically, the level of stress in a population or experienced by an individual has little to no correlation with happiness. The type of stress, especially the more insidious one, is probably more important.
Then, I'll add that it's all about your expectation. If we hope to put food on the table everyday, and we succeed most of the time, we will be proud and happy most of the time. If we expect to strike millions by being an entrepreneur, because we all know that we're nobody if we're not an entrepreneur, we will endure a roller-coaster of deception and small victories, with no quantifiable bearing on our success or lack thereof...
"let Happiness = reality - expectations"
But it’s obviously an oversimplification
If "reality" means competing against other smart/driven humans, be prepared to lower your expectations.
I would say, come to know this and you will be fine: Happiness = your natural state
[1]: https://www.rootsnwings.in/pdf/15TrippingOverJoyMay05.pdf
For example, in the winter olympics, there was a world class ski player that had been a champion for the world cups but not an olympic medalist. She already had been in positions like 7th, 6th, 5th, 4th and she just wanted nothing but a medal. In the Vancouver olympics, she went to the final round and was very close to winning a bronze medal, but finished in 4th place. She bursted into tears and clearly seemed very unhappy in the interview.
In the opposite case, if reality is far lower than expectations, like you couldn't even pass the qualification round, you can think that like an accident. I have seen this in the PyeongChang olympics that some good players not even passing the qualification round because of the windy weather. They clearly looked unhappy, but not bursting into tears, because blaming the wind will relax their unhappiness.
Many well known Buddhists talk about not being dogmatic in the face of your mental activity, but merely taking a step back and asking yourself: Does this serve me?
Remember that formula and you will be fine.
It's not a case for lowering your expectations, but it does set a framework for approaching different endeavours. It forces you to ask the question, if this goes amazingly well, how good is that really? Furthermore, it forces you to ask whether you are putting too much energy into your expectations. Finally, it's why slot machines (based on unexpected and uneven payouts) work so well. :)