Stocks on TSX Composite Index Rake in Huge Returns
This article was originally published on TipRanks.com
The TSX composite index has delivered a year-to-date return of 18.44%. TSX is a benchmark equity index that tracks the performance of around 250 of Canada’s largest publicly traded companies.The growth was aided by factors such as the reopening of the economy, low-interest-rate environment, and increasing retail participation, which helped companies to post stronger results.
The TSX Stocks list includes 43 Canadian companies with a Smart Score of “Perfect 10”. According to TipRanks’ proprietary rating system, a smart score of “Perfect 10” implies that these companies have the potential to outperform market expectations on 8 unique parameters.
These include Analyst Ratings, Blogger Opinions, Institutional Activity, Insider Activity, Crowd Wisdom, News Sentiment, Technical and Fundamental Factors.
A look at the TSX Stocks list shows that 5 out of the 43 companies have generated massive yearly returns of greater than 200%, 8 companies made yearly returns of more than 100%, 13 companies generated yearly returns of more than 50%, 13 companies between 19%-50% yearly returns and only 4 companies have generated negative yearly returns.
On a sectoral basis, Utility companies form the largest part of the list, followed by 9 companies each from Financials and Industrial Goods sectors.
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