With inflation reaching record highs, it is imperative today that investors take their wealth planning very seriously. The global equities markets are hands down the best tools available for investors today to create wealth for themselves.
Due to excessive quantitative easing, global debt rates and bank deposit rates have been very low since the financial crisis. When things were about to change, the pandemic pushed us into a similar cycle again. Little did most know that a massive out-of-control inflation problem was staring us in the face that would require aggressive quantitative tightening and an increase in interest rates. While an increase in rates is a good thing for investors as it makes an attractive avenue for risk-free return and should make up a small portion of everyone’s portfolio, equities markets are still the best candidate for the biggest allocation in any investor’s finances.
Equities markets worldwide are now primed to reprice themselves as central banks raise the risk-free rates. The change in the macroeconomic landscape will fundamentally change which businesses will do well and how businesses will be valued by markets. For e.g., high-risk-high-growth new software/technology companies have been hit hard since the inflation problem and its planned response became evident. In other words, the market will reward risk-adjusted performance in a more conservative way. In such an environment, generating returns is about to get tougher and a strong portfolio will be imperative to everyone’s financial wellbeing. In times of higher interest rates, there are stocks that do much better than others.
Luckily for us, there are multiple scanners available to all investors that make it very convenient to find such companies. For example, defensive businesses are those that usually do better than high-growth and high-risk contemporaries in times of high inflation. Defensive businesses are those that enjoy strong competitive advantages, little competition due to high capital requirements, produce essential goods/services such as power/utilities/banking, and presence in very regulated sectors. Most importantly, these kinds of businesses do well in inflationary environments as they can pass on the cost of inflation to the customer without destroying demand and protecting their margins. Screeners can be used to find companies that fit certain criteria that you think suit your investment goals or fit your investment thesis.
Best Stock Screeners In Canada
Stock Rover is a North America-focussed stock screener. The screener covers over 8500 stocks along with most ETFs and mutual funds. The screener has three offerings, one free and two premium offerings.
Under the free tier, Stock Rover offers 5 years of financials, price history, watchlists, over 260 comparable metrics, watchlists, portfolio management, etc. Under the premium plan, they offer an additional 5 years of financial history, portfolio simulations, 350 additional metrics, future projections, brokerage integration, export of data, the correlation between stocks and other stocks or with certain metrics among notable features, and others. Finally, their premium plus plan gets you all of the above plus custom metrics/additional metrics, stock scoring, historical screening, expert-complied valuation, charting of historical multiples/ratios, etc.
Stock Rover plans are available as monthly, annual, and 2-year subscription plans with the monthly cost dropping by as much as 40% as the subscription tenure rises.
Unlike most screeners on this list, TMX is a completely free screening tool with no locked or premium features. TMX only covers the North American markets and primarily offers basic but very powerful and effective tools if used correctly.
TMX offers users multiple screens under 7 broad sections, namely, basics, performance, dividends, ratios, trading mechanics, and balance sheet. Under these sections, users can screen stocks by market cap, the exchange on which they are listed, fundamental performance metrics such as profit growth rate or cash flow metrics, dividend history/performance/growth rate, ratios such as P/E or P/CF, or more sophisticated investors can screen stocks by recent volume, VWAP (Volume-Weighted Average Price), the stock’s alpha (the stocks outperformance of the broader index) or beta (the stock’s correlation with the overall market), standard deviation (consistency and range of a stock’s price movements, etc. Metrics chosen for screening can also be further classified based on a time frame of the user’s choosing.
Barchart is one of the most sophisticated screeners on the web. Like most screener offerings, Barchart has a free and premium plan. What’s great, however, is that their free option is very powerful with loads of features. Barchart covers a large universe of securities ranging from North America, the UK, Europe, and Australia.
While the Barchart screener offers solid fundamental screeners, Its emphasis on great charting makes it more inclined to the technical analyst than a fundamental investor. Barchart’s interface offers users a powerful tool in a very minimalistic manner. Within the screener, investors can add multiple screens which can be as basic as sectors, and then move on to more technical offerings such as volumes, standard deviation, the ratio of up days to down days, average volume over a certain timeframe, ratio of buys to sells on the stock from brokers, buy/sell opinion over time, etc.
Under Barchart premium, investors have better tools such as options screeners, data export, etc. Barchart is available as an annual subscription at $17/month or monthly at $30/month.
Investing.com has risen to the pinnacle of financial tools over the past few years. It is hands-down one of the most powerful financial publications and tools available to investors. The site offers investors multiple features ranging from real-time/near real-time quotes from all major exchanges, economic calendars, newsflow, investor opinions through blogs, and coverage of other major asset classes such as crypto/commodities/fixed income. Due to the site’s other capabilities and massive footfall, it has a vantage point and the scale to offer its users a very free powerful screener as well as an even more powerful paid one.
The free screener offers investors a very effective screener with the usual fundamentals and technical’s screeners that are very similar to the ones mentioned above. Under their pro screener, users have more powerful screeners such as Altman Z (predictor of bankruptcy), metrics to gauge management, Sloan ratio (a metric to gauge cash generation as a proportion of assets), realized volatility, and other exotic screeners. Investing.com Pro is available at $15/month or $179/year.
Finviz is another major screening tool among investors. However, compared to its bigger rivals like Investing.com, Finviz is a pure-play screener. Apart from the usual fundamentals and technicals-based screening, Finviz offers users collated lists of stocks that are the subject of unusual activity such as abnormal volume, new highs, new lows, broker upgrades, and big movements of stocks due for earnings or post-earnings, etc.
A particular feature that is very exciting is active tracking of insider buying and selling in stocks, a gauge that can help investors get a feel of what insiders believe is about to transpire. Other interesting features include heat maps, which show parts of the market that are unusually active, or custom heat maps, which are made based on a filter of the user’s choosing.
Under Finviz Elite, the site’s premium offering, users get additional features such as real-time quotes, correlation tracking, advanced charting, and most important of all, backtesting. Backtesting allows users to check the performance of any screener-related strategies that they might want to apply by simulating their performance past marker data. Finviz Elite is available at $40/month or $299/year.
Yahoo Finance is one of the most popular financial content websites in the world. It has remained an investor favorite due to its ease of use, great content in the form of investment ideas, great news flow, and generally well-created content. It is a particular favorite of investors as it allows free extraction of historical price data and other market data for personal data analysis and strategy formulation using excel or other tools, a feature that is most often a paid one.
Yahoo Finance also covers most major exchanges in the world and provides real-time streaming quotes to all users for free, another feature that is usually a paid one. Yahoo covers most asset classes ranging from equities, commodities, indexes, futures, options, mutual funds, ETFs, and the recently popular, cryptocurrency.
Yahoo Finance provides a lot of crucial data such as fundamentals, company statistics, collated financial reports, analyst coverage, shareholding pattern, conference call transcripts, sustainability, etc., and lets users screen for stocks based on this data. In a bid to be more relevant, Yahoo finance has also started offering sustainability metrics of companies as well as a screening feature based on them for more conscious investors. Yahoo Finance is only available as a free offering.
Reuters is one of the most storied names in financial journalism and content. The company has a long-standing reputation for being an authority in financial content. In its later years, Reuters morphed from a financial publication to a force in financial intelligence with its Eikon product, which is a fierce competitor of Bloomberg’s ever-popular terminal. Reuters covers a range of news and publications that span the global markets and various themed content such as sustainability. It is also a leading force in investigative finance journalism, hence it is imperative that it offers its users a great screening tool.
While deceptively simple, Reuters’ screener offers users a slew of effective tools at their disposal. Apart from the usual fundamentals and technical screening such as metrics and technicals such as volume, open interest, etc., Reuters also offers theme-based screeners, which are very useful for even the most layman of investors. Some examples of these themes are smallcap growth/value to large-cap growth/value, small/medium/large-cap momentum, and unique themes such as growth at a reasonable price. These screens can be applied to the entire universe of securities that Reuters covers, which includes most of the global markets. Reuter’s screener is available as free for all users.
Over the past few years, TradingView has emerged as a force in the market-related financial tools landscape. TradingView is designed with a slick interface, in an attempt to be very intuitive and popular with newer younger users. The company covers global markets and has a particular emphasis on high-quality charting and screening. TradingView covers global markets and offers features such as historical back-testable data, real-time quote streaming, custom charting, etc. TV also offers other asset classes such as commodities, bonds, crypto, and ETFs.
TradingView offers its users, both free and subscribers, one of the best screeners in the world. While the screener is more inclined towards technicals, it also has a very strong fundamentals integration with economic data and economic calendars. It also offers users a way to test out their mettle through real-time simulated paper trading where they can test out screening and investing skills. For more advanced users, second-based interval charting, data, and screening are also available. To make things easier for novice users to understand and put together, they also offer charts where all fundamental data and activity of that security are integrated with the price chart.
Like all things great, TradingView is expensive, with three tiers, namely, Pro, Pro+, and Premium. Subscriptions range from $14.95/month for Pro to $59.95 for Premium.
Since interest rates for bonds and deposits were at inflation lagging levels for the entirety of the last decade, equities markets enjoyed a break-neck bull-run. In simple terms, the valuations for publicly traded companies are largely inversely related to interest rates. This is because most methods to value a company are dependent on discounting of their future cash-flows, dividends, revenues, etc. at the risk-free rate, which is being pushed up to levels not seen since the early 2000s by central banks all over the world in a bid to control to inflation. A second-order effect of this is that the cost of equity and debt for a company goes up as investors demand a higher return for the risk that they carry as the risk-free return they can earn is higher. With the risk-free rates about to increase substantially, returns will be both lower and tougher to generate. It is imperative now more than ever that investors take their investing to the next level, and screeners are a great starting point for those willing to make the effort.
Top Rated Stock Screeners Canada
It offers only nine technical indicators compared to over 150 financial indicators in its selection. But, as a sign of Warren Buffett’s attention to fundamental analysis, it also comes with a pre-installed Buffettology Screener for finding companies with strong margins and fair values.
Although it is not the most powerful tool for checking stocks, it can be as effective as Canadian exchanges. This stock screener is 100% free and provides multiple custom criteria for the most advanced investors. In addition to the above parameters, this stock screener also provides unique filters, such as analyst recommendations, internal and institutional transactions, earnings per share growth this year, quarter by quarter, next year, and the next five years.
Stock Screener is a tool traders and investors use to select stocks based on pre-defined or defined metrics. A stock picker is essential tool traders and investors use to analyze thousands of stocks to find the ones that match their criteria the best. In addition, stock screeners are used to identify stocks based on various investment scenarios such as creating an asset allocation strategy, long-term buy and hold strategy or trading in and out of the market for quick profits.
You can achieve this by using online action filters to filter the results based on ratings that suit you. A stock screener is a valuable tool for fundamental and technical investors, traders, and even the company itself. If you want to invest in US stocks, you can explore many excellent screening tools. As a Canadian, the options are much more limited, but several free screening programs meet the requirements.
Although this tool does not analyze Canadian stocks, it does provide a variety of valuation indicators to choose from. There are 66 stock filtering options, which is great for the free version, but if you are a professional trader, the free version of this filter is minimal, at least compared to the other free screens in this list. In addition, due to many available indicators, the screeners use Excel because it is much more challenging to check activities using websites or phone calls.
TC2000 also allows you to create your selection criteria, which can be superimposed on existing stock charts. TMX is also a good tool for checking dividend stocks because it provides various filtering options to choose from, such as dividend yield, payout ratio, and dividend rate. Yahoo Finance also offers Canadian stock screening services, including multiple filters such as stock statistics, earnings, valuation indicators, financial statements, earnings, industry and other financial indicators.
For over 25 years, TC2000 has excelled in inventory checking and scanning. The advantage of this site is that it offers all the fundamental and technical screen options imaginable and an opportunity for the US or Canadian market. The site also provides screens of mutual funds and ETFs, the latter being the first visual or graphical screener we’ve seen.
The total number of filter results you added is shown in the upper left corner of the screener window. Still, you can also exclude unusual activities by checking the box in the Packages section of the filter tab. For example, when loading the screener for the first time, you will see several selected deals in the “Trade” filter.
Once you have selected a filter, you can change filters and save the new screener to your account. The screener allows you to find filters using different filters or search for a filter by entering a keyword in the search box. The more reliable the screening filters are, the better the screen can help you find the exact type of stock you want.
Use Finviz to narrow the US stock market to a few of the best day trading stocks with thousands of possible filter combinations. Skipping through our ease of use criteria, choice of fundamental and technical filters, filtering depth criteria, customization and additional functionality, we narrowed down the list to 16; investors looking for Canadian stocks, bonds and stock exchange-traded funds have a difficult time analyzing their choice using online screeners.
If you only want to trade Canadian TSX-listed stocks, any online stockbroker will be able to make the trades you are looking for. If you are not a native Canadian, you can still buy and sell shares on the Toronto Stock Exchange (TSX). When you read stock quotes on Canadian stock exchanges, most assets are quoted in Canadian dollars, not US dollars used on Wall Street.