A Historical Stock Screen Using Daily Range and Dividend Payout Ratio
Summary
This Chinese stock screen combines three filters: daily price amplitude above a threshold, observations from 2021, and a 2019 dividend payout ratio above a stated level. The article interprets larger daily ranges as greater price movement and uses the historical payout ratio as a financial characteristic for building a candidate pool. It gives formula and Python examples to illustrate how the filters might be applied.
No backtest, selected-stock list, or evidence of returns is reported. The screen relies on a payout ratio from an earlier year, which may not represent current conditions, and a high payout does not by itself establish financial strength or attractive stock performance. The article suggests comparing dividend history and debt levels and adding earnings, profitability, and industry context. Its description is historical and does not establish that the same filters are useful in current markets.
Key ideas
- The screen combines a daily amplitude threshold, a 2021 date filter, and a 2019 dividend payout-ratio threshold.
- The article treats daily range as a volatility-related selection feature and dividend payout as a company characteristic.
- A payout ratio from one historical year may not reflect current financial conditions.
- High dividends alone do not establish strong performance or low financial risk.
- The article suggests adding earnings, debt, dividend-history, and industry factors, but reports no performance evidence.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.