How would you go about backtesting Canadian Banks?

Manage
1

I’m trying to figure out the best way to invest in specifically the Canadian banks.
How can I exclude all the others on the TSX?

Thanks!

2

Create a new stock screen. Go to the Settings tab. Select Toronto Stock Exchange as the Universe (because you mentioned the TSX in your question).
Go to the Rules tab and add two rules:
RBICS(BANKS)
showvar(@Country_Canada, Country(“CAN”))

The first rule screens for subsector=BANKS. You can see all the RBICS codes here: https://www.portfolio123.com/doc/doc_detail.jsp?factor=RBICS&popUpFullDesc=1

The 2nd rule will show ‘1’ if the Country of Domicile is Canada. This rule doesnt affect the screen results, but I thought that would be a useful to manually verify the county of domicile. You could add a rule Country(“CAN”), but it is not needed in this case.

You could filter the list further. For example, maybe you are not intested in Mortgage banks. If so, you would add the rule: !RBICS(BANKSMORTG)

If you are new to P123 and any of the above is not clear, just let me know and I can provide more details.

The steps above show you how to get a list of Canadian banks. The title of your question mentioned backtesting. You can backtest in the screener on the Backtest tab. Or you can create simulated strategies in the Research section. Please provide more details on what you want to do and then I can point you in the right direction.