Most strategies have specific guidelines on which industries should be excluded. The Greenblatt Magic formula for instance excludes financial companies and utilities. We don't remove any companies from our base set but specific industries can be removed very easily using this filter. There are 3 ways to do this:
The screener grid is refreshed after every closing of the list (by clicking outside of the list control).
The industries filter will also be used to define the stock universe on which relative scores such as the Magic Formula, the ERP5 and the O'Shaughnessy Value Composites (VC1, VC2, VC3) are calculated.
We use the global industry classification standard (GICS) developed by MSCI and S&P. The GICS structure consists of 10 sectors, 24 industry groups and 67 industries. For more information, visit this link. You can also use our GICS hierarchy page to drill through the hierarchy and see the companies in a specific industry, industry group or sector.
To see a summary of all selected industries, just hover over the industries filter.