The companies listed for a specific screen will change over time. As a result of stock price updates or new results, a stock could fall outside the limits of a filter. And since our screener works up to 6 levels of filtering, it might be difficult to find out exactly why the company no longer shows up in the list.
There are different categories of filters:
- Template filters: some templates like the Enhanced Dividend Yield screen sets additional filters in the background. These filters cannot be altered.
- Menu Filters: this - in combination with the template filters - defines the initial stock universe against which all calculations will be performed. Find more info here.
- Multifactor analysis filters: this allows you to create filters in layers. Find more info here.
- Table Filters: this allows additional filters to be created for all columns in the screener. Find more info here.
The filters are applied in different levels:
- Template and menu filters define the first level of filtering. Within the menu filters, when the security filter is filled in, all other filters will be ignored. Watchlists are the second most important filter, and if this is filled in, all other filters will be ignored. Then the other template and menu filters will be applied.
- Mulitfactor analysis filters will be applied to the stock universe created by the filters above. First, factor 1 is applied. This set is used as the basis for factor 2, etc... This step allows users to add up to 4 levels of filtering based on ratio and percentile ranges.
- Table filters are based on the set created by applying the two groups of filters explained above.
To see a list of all filters, click the 'Where is my company' button. This brings up a window listing all the different filters. To find out why a certain company is not listed on the screen, just type the company name in the provided textbox. While typing the name, a list of companies will show. Click on the specific company or hit the tab button to select it. This runs a batch of tests that will reveal why the company dropped out or why it's included.
The testing algorithm is performance optimised and will only perform tests if the previous filtering layer doesn't already remove the stock. For example, if a stock is not included in the countries filter, it's not worth checking the multifactor analysis as the stock would not be included in the base set used by the multifactor analysis. Similarly, it will not test any table filters if the stock was already filtered out based on template filters, menu filters or multifactor filters. The only exception to this rule is filtering on name or watchlist. In this case, it will still run the tests even if the stock doesn't appear in the watchlist or doesn't have the name set in the name filter.
For each line in the filters list, the following information will be displayed:
- Filter: the name and type of the filter.
- Value: the value of the filter defined in the template or set by the user.
- Test: the results of the test. 'Pass' means that the company meets the filter criteria. 'Fail' means that the company does not meet the filter criteria. 'Not Tested' indicates that the test was not necessary since the company was already excluded by an upstream filter.
- Security value: this shows the value for a specific company. For menu filters or table filters, this is the value for this specific company. For factors, this will show the percentile in the subset to which the company belongs.