InnovationOwl Technologies

Toronto Stock Exchange (TSX) Growth Selection Index

This page shows the current state of InnovationOwl's automated TSX Growth Stock Selection System. The current state of the system is illustrated below by the graph, current system holdings and performance tables (where $ = Canadian Dollar.) These are scheduled to be updated daily (barring any unforeseen technical difficulties). The following links provide other relevant information:

  • The Owl's TSX, our Toronto Stock Exchange (TSX) Growth Selections
  • The Owl's TSX Selection Index, Benchmarking and Tracking
  • The Selection Criteria and Proprietary Software
  • Historical States of the TSX Growth Selection System
  • US Small-Cap Growth System
  • System Holdings

    Company NameSymbol
    HOME CAPITAL GROUP INCHCG.to
    TRICAN WELL SERVICE LTDTCW.to
    KETCH RESOURCES LTDKER.to
    RONA INCRON.to
    EQUITABLE GROUP INC.ETC.to
    INDUSTRIAL-ALLIANCE LIFE INSURAIAG.to
    ACCORD FINANCIAL CORPACD.to
    SAPUTO INCSAP.to
    ZARGON OIL & GAS LTDZAR_u.to
    SICO INCSIC.to
    SHOPPERS DRUG MART CORPSC.to
    PETRO-CANADA COM/VARPCA.to
    NATIONAL BANK OF CANADANA.to
    KINGSWAY FINANCIAL SERVICES INCKFS.to
    CANADIAN WESTERN BANKCWB.to

    System Performance (as of Dec 6, 2004 @ 14:07 PST)

    Value Since last evaluated
    (on Dec 3, 2004 @ 14:07PST )
    One Month
    (Since Nov 8, 2004)
    Three Month
    (SinceSep 6, 2004)
    Six Month
    (Since Jun 8, 2004)
    One year
    (Since Dec 8, 2003)
    Since Inception
    (Jan 16, 2003)
    TSE Selection Equally Weighted Index 157.17 -0.21% 5.08% 9.3% 12.65% 19.81% 57.17%
    TSX 9060.7 0.06% 2.66% 8.58% 7.71% 13.39% 32.72%
    TSE Small Cap 609.84 0.42% 4.18% 10.14% 3.37% 6.19% 36.16%

    System Commentary

    The Owl's TSX Selections

    The Owl's TSX selections are the subset of stocks in the Toronto Stock Exchange (TSX) that meet our defined criteria. It is our opinion that some of the stocks from this list are and will continue to be extremely successful Canadian growth companies. The index is maintained using a computer algorithm that is focused on quantitative number crunching but can easily overlook the most basic qualitative red flags. For this reason it is important that one practices due diligence when selecting investments from this set of stocks.

    Benchmarking and Tracking

    In order to track the performance of the Owl's TSX Selections and benchmark them to the major indexes, the Owl's TSX Selection Index© (OTSI) was initiated on Jan. 16, 2003 at CAD 100 (Canadian Dollars) and is an index of stocks that meet our selection criteria. The index is maintained such that rebalancing is targeted to occur at the close of each trading day. The number of stocks can vary from one day to the next and rebalancing results in an equal dollar position in each stock in the index set.

    The Owl's TSX Selection Index© is not a historical simulation but rather a representation of what would be achieved if one were to hold all the stocks selected by the system. As this is really our own TSX Growth Index, the goal of the selection criteria is to outperform S&P/TSX Composite Index in terms of risk and return. Currently dividends, transaction costs, and taxes are not accounted for in the tracking of the index and share positions may be fractional.

    The Selection Criteria and Proprietary Software

    The purpose of the selection criteria is to limit the universe of TSX stocks to a small handful of selections. The stocks that make up the Owl's TSX at any given point in time meet our set of proprietary criteria at that point in time. The criteria are based on a variety of parameters including quarterly and yearly financial statement fundamentals, earnings growth, relative price performance, market capitalization, and liquidity to name a few.

    The selection criteria are implemented using parameterized software that can be tuned to implement a variety of different selection indices. In addition to implementing the Owl's TSX Selection System, we have also implemented a US Small-Cap Growth System and are working to develop other new systems.