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Creating a Custom Metric

The Custom metrics facility works very similar to the equation screener and the possibilities range from creating a ratio from to metrics you often compare or creating a new formula from our existing metrics. The custom metrics facility allows you to use arithmetic operators (+-*/), comparison symbols (>, <, >=, <=, =), parenthesis, Boolean operators (and, or), and functions like ifnull as well. The section below will describe some the different functions that can be used. Note: Custom Metrics are only available in Premium Plus.

The first screenshot below shows how you can access the facility:

CreatingCustomMetrics

This will display a new window, where you can create a new metric. To start give the metric a name, a description, and select a display format (decimal value, percent, or dollar value). The screenshot below, shows all the display format options.

CreatingCustomMetrics

Below is an example of a simple custom metric that compares a stock’s price to the mean consensus target price put out by anaylsts. We will call it Price to Mean Consensus Target(%).

CreatingCustomMetrics

Then enter the formula for your custom metric into the formula box. You can add metrics using the ‘Quick Add’ menu on the left (search or browse to the metric you want), or simply by typing the metric’s name into the formula box, and selecting from the menu that appears, as shown here:

CreatingCustomMetrics

Create equations with the same formatting that you would in a spreadsheet cell, using symbols like * / + – = with parentheses as needed. Once you have your equation entered, make sure it works using the ‘Test’ button at the bottom of the form. You can get more detail and swap out your test ticker through the ‘Sample Values’ button.

CreatingCustomMetrics

When using either editor, if at any time you make edits that you want to reverse, you can click the ‘Undo’ button to reverse each change made, one by one. To go in the other direction and restore changes after using the ‘Undo’ button, click on the ‘Redo’ button as needed. Both buttons are highlighted below.

CreatingCustomMetrics

Click Create and you can then use this metric like any other in Stock Rover. For example, here is the new metric show in the table:

CreatingCustomMetrics

After a custom metric is added to a view you can right-click on the column and select ‘Update Custom Metric’ to make changes or ‘Delete Custom Metric’ to delete the metric all together.

CreatingCustomMetrics

Custom Metric Functions

Here is a list of functions available in the custom metric and equation screener facilities:

Function Name Description Example
abs Returns the absolute value of value abs(-1.5) returns 1.5
case when then else end This function lets you evaluate conditions and return a value when the first condition is met (like an IF-THEN-ELSE statement) case when x > 0 then 1 else 0 returns 1 if x is greater than 0 otherwise it is 0.
exp Return e raised to the power of number exp(2) returns 7.38905609893065
ifnull Returns the second value if first value is null. ifnull(null,0) returns 0
A Stock Rover example if you want to find companies that have good long term returns but have not existed for a long time you can use an example like this:
ifnull(“Annualized 10-Year Return”, “Annualized 3-Year Return”) > 10
null A special term for values that unavailable or not applicable. Metrics will commonly evaluate as null when trying to compute a growth rate of negative values or when comparing historical values that go further back than the stock’s history. null can be used within the nullif and ifnull functions
nullif Returns null if the first and second are equal otherwise it returns the first value. nullif(5,5) returns null
pow Returns the value raised to the nth power pow (8,3) returns 512
A Stock Rover example to get the 7 yr eps growth rate:
pow( (“EPS [Now]” – “EPS [Y7]”) / “EPS [Y7]”, 1/7) – 1
Please note this function does not work with negative numbers. Please see the example below.
round Returns a number rounded to a certain number of decimal places. round(345.156, 0) returns 345

Custom Metric Examples

Listed below are three different examples of custom metrics.

Long Term Debt over Operating Income

“Long Term Debt [Now] ” / “Operating Income [Now] “

Return on Invested Capital vs. Prior 3 Year’s Average

ROIC [Now] ” -(( “ROIC [TTM1] ” + “ROIC [TTM2] ” + “ROIC [TTM3] ” )/3)

Here is what the custom metric looks like in the interface:

CustomMetricExample

The Graham Number

The Graham Number is a figure that measures a stock’s fundamental value by taking into account the company’s earnings per share and book value per share. The Graham number is the upper bound of the price range that a defensive investor should pay for the stock. According to the theory, any stock price below the Graham number is considered undervalued and thus worth investing in. The formula is as follows:

Square Root (22.5 x Earnings per share x Book Value per share)

Custom Metric when Negative Numbers need to be Ignored

In this example, we want to take the square root of a number, but the POW function only accepts number greater than or equal to zero. So to ensure the number we pass to POW is positive, we use a Case statement inside of the POW function. It is a little tricky, but it does the job. The formula is as follows:

pow(case when “Equity Per Share [Now] ” * “EPS [Now] ” <= 0 then null else 22.5 * "Equity Per Share [Now] " * "EPS [Now] " end, .5)

Grouping by Industry, Sector, Tag or Color

To group the stocks in the Table by sector, industry, color, or tag, click the ‘Actions’ button in the table’s toolbar and mouseover ‘Group By’ and select from the menu.

Groupby

Saving filters as a Screener

If you set up any filters on your columns, see filtering on columns for more information on filters, you can then save these filters as a screener. To save the filters as a screener, click the ‘Actions’ button in the table’s toolbar and mouseover ‘Save As’ and select ‘Save Filters as Screener’ from the menu.

Save Filters

This will open a new create screener window as seen below.

Save Filters

Saving the table as a Portfolio or Watchlist

To save the data set in the table as a watchlist or portfolio, click the ‘Actions’ button in the table’s toolbar and mouseover ‘Save As’ and select either option from the menu.

Save Table

Exporting the table to Excel

To export the data that is displayed in the Table to a csv file, click the ‘Actions’ button in the Table’s toolbar, mouseover ‘Save as’ and select ‘Export Table as CSV File’.

Export Table

This will download all displayed tickers and columns to a csv file in the folder designated by your browser. The file will only contain the tickers displayed in the Table, so if there are tickers spread out over multiple pages, you will have to export each page individually. Please note that range-style graphical columns (such as 52-wk range) will display the lower and upper limit values, whereas histogram-style graphical columns are unable to be exported and so will show a blank value.

Printing the table

To print the data in the Table, click the ‘Actions’ button in the table’s toolbar and select ‘Print’.

Print Table

This will open a new tab in your browser’s window with the data from the Table in an easy-to-print format. Just click the ‘Print’ button on this page to print the data. Note that you can only print 100 rows at a time. If the printed data is more than one page, we unfortunately are not able to have the column headers print at the top of each page.

Print Table

Refreshing Prices

Normally, Stock Rover updates the Table with the most recent data every time you perform an action in the product, including loading a new set of tickers in the Table or selecting a different stock. However, you can choose to have Stock Rover auto-refresh with the most recent prices every 1, 5, or 10 minutes, even if you perform no actions with Stock Rover. To do this, go to the pull down menu in top right of the screen under your account name and select ‘Preferences’.

Refreshing Prices

At the bottom, select the desired auto refresh period. Please note that Auto Refresh is a Premium feature.

Refreshing Prices


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