The interdisciplinary time-series analysis literature encompasses thousands of statistical features for quantifying interpretable properties of dynamical data. But for any given application, it is likely that just a small subset of informative time-series features is required to capture the dynamical quantities of interest. So, while comprehensive libraries of time-series features have been developed, it is useful to construct reduced and computationally efficient subsets for specific applications. In this work, we demonstrate a systematic process to deduce such a reduced set, focused on the problem of distinguishing changes to functional Magnetic Resonance Imaging (fMRI) time series caused by a range of experimental manipulations of excitatory and inhibitory neural activity in mouse cortical circuits. We reduce a comprehensive library of over 7000 candidate time-series features down to a subset of 16 features, which we callcatchaMouse16, that aims to both: (i) accurately characterize biologically relevant properties of fMRI time series; and (ii) minimize inter-feature redundancy. ThecatchaMouse16feature set accurately classifies experimental perturbations of neuronal activity from fMRI recordings, and also shows strong generalization performance on an unseen mouse and human resting-state fMRI data where it tracks spatial variations in excitatory and inhibitory cortical cell densities, often with greater statistical power than the fullhctsafeature set. We provide an efficient, open-source implementation of thecatchaMouse16feature set in C (achieving an approximately 60 times speed-up relative to the native Matlab code of the same features), with wrappers for Python and Matlab. This work demonstrates a procedure to reduce a large candidate time-series feature set down to the key statistical properties of mouse fMRI dynamics that can be used to efficiently quantify and interpret informative dynamical patterns in neural time series.