Screener Overview

Screeners allow you to filter through all of the stocks in Stock Rover's investment universe (NYSE, NASDAQ and Toronto exchanges) in order to find the ones that meet your specific investment criteria. The available filtering criteria is comprehensive; Stock Rover contains over 275 screenable metrics, which cover price performance, financial and operational metrics, as well as sector and industry metrics.

Premium and Premium Plus users can also weight criteria used in screening to create a composite score that can be used to rank the returned results from #1 on down, thereby easily identifying the top investment candidates that pass a particular screener.

Premium and Premium Plus users can also perform screening on the ETF universe, looking for promising ETFs that meet your investment criteria.

Premium Plus users can screen on historical data and can create equations that incorporate past and present data to create more complex screening and filtering conditions.

Screeners always use the most recent stock data, meaning that the results of a screener will likely change when a screener is run at different points in time.

Stock Rover provides a large number of pre-built screeners in our library, each of which implement a different well known investment strategy.

Screener Overview

Create a Screener

There are a few ways to create a new screener. The first way is to select ‘Create Screener’ after searching for it in the Search bar.

create new screener through task wizard

This will bring up the create screener window (shown below). Here you can rename and add notes to the screener, or choose to make it a ranked screener, add your criteria, and choose which Universe you want to run the screener against and select Equity Type. Note: Changing the Equity Type to ETF changes the available criteria to include dozens of Fund specific measures including Morningstar Rating and Expense Ratio.

the screener manager

Once you click ‘Add Criteria’ it will bring up a new window (shown below) where you can select a metric, either by navigating through the folders or by using the Quick Select box, and add criteria for screeening on the right, then click ‘Done’ so it gets added to the screener.

the screener manager

Note that you can see how many stocks pass the screener as you adjust the screener’s values. This is a time-saver over many other screening tools that require you to select all of your criteria and values prior to seeing how many stocks pass the screener.

the screener manager

You can also get to this manager by right-clicking on ‘Screeners’ in the Navigation panel and selecting ‘Create Screener.’

Screener's drop-down menu

Another way to create a screener is to save Table filters as a screener. If you have any filters in place in the Table, you can click the ‘Actions’ button in the Table’s toolbar, mouseover ‘Save As’ and select ‘Save Filter As Screener‘ from the drop-down menu. To learn more about Table filters, see the Table filters help pages section.

saving Table filters

Ranked Screener

You can also choose to create a ranked screener in Stock Rover, which ranks stocks according to user-defined criteria that can be separately weighted for importance. To create a ranked screener, go through the process of creating a new screener as described in the
previous section, and then check the ‘Use Ranking’ box of the screener manager, circled below.

Ranked screener

This will then add the option where you can set a limit for how many stocks the ranked screener will return (the default is 50, but it may return up to 250 stocks). In the next step you will want to click ‘Add Criteria’, this will bring up the window where two additional options appear: percent weight and preferred order of score (boxed in the screenshot below).

Ranked screener

With the ranking feature activated, you can add filter criteria without using the weighting (as you can see below with the Dividend Yield criterion), you can weight a metric without adding filter values (as you can see below with YTD Return criterion), or you can assign both a weight and filter values for a metric (as you can see below with the Dividend 1- and 3-year changes and the EPS criteria). Note below the box you can see the number of stocks that pass your screener, as well as the number that will be returned as specified in the limit.

Ranked screener

When you click ‘Save’ the number of stocks specified in the limit will be loaded in the Table. If you have weighted the stocks so that the sum of their weights is not equal to 100%, you will be prompted to either let Stock Rover auto-adjust the weights for you, or to adjust the weights yourself. You can choose to have Stock Rover always auto-adjust the weights by checking the box.

Ranked screener

When you run the ranked screener, the top-ranked stocks will load in the Table and a ‘Rank’ column will appear to the right of the Ticker column with the rank of each of the stocks. If you mouseover a stock’s rank, you’ll be able to see information about that stock’s score. Note that the rank column will appear only when you are running a ranked screener; if you switch to a different dataset in the Table, the rank column will disappear.

Ranked screener

From here, a ranked screener can be accessed and modified in the same manner as an ordinary screener. Please see the Update a Screener section for more information. For more information on applying a ranked screener to a portfolio, please see the Score Portfolio section.

Equation Screeners

Equations let you create highly specific screening criteria using custom, freeform metric comparisons. In an equation, you can use numbers, arithmetic operators (+-*/), comparison symbols (>, <, >=, <=, =), parenthesis, and Boolean operators (and, or). You can also screen on historical data (e.g., last year’s sales or EPS from 5 quarters ago). Note: Equation Screeners are only available in Premium Plus.

To create a screener using equations, first open the screener manager and click ‘Add Criteria’. Then click on the box for ‘Use Freeform Equation’ at the top of the box. You will then see the following equation editor:

Ranked screener

You can edit the equation in two modes:

Assisted Mode (default) eases the process of adding metrics to your equation by letting you pick metrics from pop-up search results as you type. To insert a metric, simply start typing a metric name into the equation editor and select from the list that appears.

Text Mode lets you edit the equation as plain text so that cut, copy, and paste are fully supported. To enter a metric, type the full metric name in double quotes (for example, “Cash Flow”) into the equation editor.

These modes are selectable by the radio buttons at the top of the equation editor, called out below.

Ranked screener

In either mode, you can always find and select a metric from the left panel to insert it into the equation. Any metric shown with a calendar icon has historical data available for screening.

If you uncheck the ‘Use Freeform Equation’ box, you will go back to the main screener editor. You will not lose any of your saved equations; they will still be included in your screening criteria.

Assisted Mode

Assisted mode is the default mode for using the equation editor. To add a metric to the equation, simply begin typing the metric name in the equation form to call up a list of dynamic search results, as shown below.

Ranked screener

If you select a metric, it will be added to the equation box. If you have selected a metric with historical data, it will default to the current value, but if you click the ‘Now’ box, it will reveal a menu where you can select from quarterly or yearly data, example shown below.

Ranked screenerRanked screener

From here, you can use arithmetic operators (+,-,*,/), the pow() and exp() functions for powers and exponents, comparison symbols (<, >, <=, >=, =), parenthesis, and Boolean operators (“and”, “or”) to create an equation. A comparison symbol is necessary to make an equation valid.

You can enter numerical values into the equation, use any other metric, or use any supported historical data. Below, you can see that the equation is set up to screen for stocks whose sales are 15% greater than they were a year ago, or for stocks whose EPS this quarter is 10% or greater than its EPS last quarter.

Ranked screener

Text Mode

The advantage of text mode is that it supports copy and paste. So, for example, you could easily share equation criteria with others, or you could create multiple variations on the same basic equation easily by copying and pasting. However, because the equations in text mode are entered in plain text, you must be careful to enter the equation using the precise terms and conventions. All metric names must be entered in double quotes and fully spelled out (for example, use Price/Earnings instead of P/E). The following image shows a correctly-entered equation.

Ranked screener

Like in assisted mode, metrics entered in text mode will default to the current period (“Now”). For example if you enter “Cash Flow” in your equation, it will use current cash flow values. However, you can change the period by entering a different period in brackets following the metric name, for example [Y1] for 1 year ago or [Q1] for 1 quarter ago. The above image shows an equation comparing the return on asset values from 5 and 6 years ago.

If you’re equation is not entered correctly, you will receive an error message saying that the equation is invalid. See the next section to learn how to test your equation to make sure that it is valid.

Testing and Saving Equations

You can test any equation to make sure it is valid simply by clicking the button that says ‘Test’ at the bottom of the equation editor.

Ranked screener

As called out in red above, you will see a message that tells you whether or not the equation is valid and, if it is valid, how many stocks pass the filter.

As seen in the screenshot below there is also the Sample Values box. Here you’ll see sample values for the metrics included in the equation (in the image above, the sample values shown are for IBM). You can change the sample ticker using the search form.

Ranked screener

Close the Sample Values window and continue editing your screener.

Click ‘Add’ when you are finished editing an equation, and the equation will added be to the criteria box, with the number of passing stocks listed just below.

Ranked screener

Please note the following limitations of screener equations: Currently screener equations are used strictly as filtering criteria and cannot be weighted using the ranking feature. However, you can use equations and ranking on non-equation criteria in the same screener.

Update a Screener

To update a screener, you can right-click on the screener in the Navigation panel and select ‘Update Screener’ from the drop-down menu.

Update screener

To modify the screener’s criteria, select the metric, and click on the edit icon. When you have finished updating your screener, click ‘Save’.

Update screener

Note that you can see how many stocks pass the screener dynamically as you edit the criteria. You can also toggle different filters on or off to see how results change. The screenshot below highlights the icon and you view the results right underneath that window.

Update screener

Organize Screeners in Folders

You can organize your screeners into different folders, where each folder can represent a different group of screeners. To enable screener folders, go to your user name in the top right corner and in the drop-down menu select the ‘Preferences’ item.

screeners

In the window, check the box to enable screener folders.

screeners

Now all of your screeners will be in a ‘Default’ folder in the Navigation panel. You can right-click this folder to rename it.

screeners

To create more screener folders, right-click ‘Screeners’ and select ‘Create Folder’ from the drop-down menu. After giving it a name, it will appear under ‘Screeners’ in the Navigation panel.

screeners

From here, you can just drag and drop the screeners into the different folders. You can also drag and drop the folders themselves to rearrange the order. Now when you click ‘Screeners’ in the Navigation panel, you’ll be able to see the summary of each of the screener folder groupings displayed in the Table, as shown below.

Screeners

Screen Current Table

Running a screener will normally apply the screener criteria to all of the stocks in the defined investment Universe (e.g. NASDAQ, NYSE and/or TSX). However it is possible to apply the filters from a screener to any defined population of stocks and ETFs, such as a portfolio, watchlist, or sector.

To do this, first load the set of tickers you want to screen in the Table. Then, right-click on the screener you want to apply to those tickers in the Navigation panel and select ‘Screen Current Table.’ The screener criteria will now be applied as a set of filters to the Table. For more on how filters work, see the Filter Section of the help documentation.

Screen Table

If the screener you want to apply is a ranked screener, it will apply just the non-ranked screener criteria to the Table (that will apply filter values but no weights) by selecting ‘Screen Current Table’.

The results of the screen will appear in the table and the filters will appear in bold and also display the number of active filters at the top of the page.

Screen Table

Score Portfolio or Watchlist

You can score/rank a portfolio or a watchlist by a screener's criteria by selecting ‘Score Portfolio’ or ‘Score Watchlist,’ from the selected screener's right click menu. The example below shows the right click menu from the GARP screener. The right arrows on Score Portfolio and Score Watchlists when hovered over, will list all of the available Portfolios or Watchlists.

Apply screener

This will load that portfolio or watchlist in the Table, as well as add three additional columns to the Table.

The first rank column shows the rank number of any the stocks in the portfolio that pass the ranked screener out of all the stocks in the North American exchanges. The second rank column will rank just the stocks in the portfolio or watchlist according to the specified weights. The ‘Rank Within Table’ number will be green if the stock passed the original ranked screener and red if it did not. If you mouseover the rank, you can see the breakdown of the scoring. Values in red indicate where the stock failed to pass the original ranked screener. The third column ‘Score’ will show how many of the criteria you pass and if you mouse over the score it will display which of the criteria you pass or fail.

Apply screener

You can still get scoring information about a stock even if it didn’t pass the original screener, simply mouseover the dash in the ‘Rank’ column and you will see scoring and the filter breakdown for that stock.

Apply screener

Even if the screener doesn’t contain a rank, you can still score your portfolio or watchlist and below you can see the results of the score and hovering over the value will list the number of criteria it will pass.

Apply screener

Apply screener