When it comes to stock market data, there are a variety of different sources you can use. Depending on your needs, you may want to get stock market data from a spreadsheet, a web platform, or an API. In this blog post, we will discuss the pros and cons of each source and help you decide which is the best option for you.
What is stock market data, and why do you need it?
Stock market data refers to the information that is used to measure the performance of a stock market. This data can be used to track the movements of stock prices, as well as to identify trends in the stock market.
In addition, stock market data is also used when referring to data related to particular publically traded stocks. This data can include information such as financial statements, key ratios, and historical price data, amongst many other data points.
This data is very valuable for investors, as it can be used to make informed investment decisions. It is also useful for stock market analysts, who use this data to identify trends and predict future movements in the stock market.
So, now that we know what stock market data is and why you need it let’s take a look at the different types.
Different types of stock market data
There are five main types of stock market data:
- Historical price data
- Real-time price data
- Stock fundamentals
- Key ratios
- Technical market data
Historical price data refers to the prices of a stock at different points in time. This data can be used to track the performance of a stock over time and to identify trends in the stock market.
Real-time or live price data, on the other hand, is data that is constantly changing and updating. Therefore, this data is useful for investors who want to know the most up-to-date prices of a stock.
Stock fundamentals refer to the financial statements of a company. This data can be used to assess the financial health of a company, as well as to identify trends in a company’s financials.
Key ratios are a type of stock data that measures the performance of a stock in relation to other stocks. This data can be used to compare the performance of different stocks and identify trends in the industry or sector.
Technical market data is a type of stock data that includes information such as trading volume, price changes over time, and moving averages. This data is used by investors to identify trends in the stock market demand and supply and make investment decisions.
Getting stock market data using a web platform
One of the most typical ways to get stock market data is through a web platform. Many websites offer stock data, and most offer part of this data for free.
In addition, most of these websites also offer features such as stock charts, news, and analysis. Unfortunately, for a more comprehensive analysis, you can't really get a lot of data in one place. Still, you are limited to a one-company view. Moreover, the best data available is often hidden behind expensive paywalls ranging from $34.99/month to thousands of dollars per year for premium services like CapitalIQ and Bloomberg.
Getting stock market data using an API
Another way to get stock market data is through an API. An API, or Application Programming Interface, is a set of programming instructions that allow you to retrieve stock data from a database to your preferred destination, such as a dashboard, Excel, app, or any other source.
The best part of using an API is the level of customization available, where you can get only the stock data you need. Often, the data coverage is more extensive than any other option, including all the different stock market data types.
There are many different stock market APIs available. You can check out our article on the best stock APIs available.
The problem with stock market data APIs is that you need a good programming understanding to get value out of them. In addition, your analysis has to be done at a large scale where it pays off as these services are not the most affordable for individual investors ranging from $14/month to $1,000/month.
If you want to choose this route, then be sure to email us at email@example.com we can assist you in finding the best solution for your use case.
Getting stock market data in Excel or Google Sheets
Getting stock market data on your spreadsheet is one of the best ways to analyze this data effectively. This method combines some of the best elements of the others by analyzing hundreds of stocks simultaneously across multiple data points that are fully customizable to your own analysis. All of this without the need to code and with the added power of spreadsheets which includes graphing, performing any types of calculations, modeling, and sharing your analysis with others easily.
There are many ways to get stock market data to Excel and Google Sheets you can check out the guides we have written on the subject. Overall, the most effective method is combining Wisesheets with either Excel stocks or the Google Finance Function. You can access real-time and historical stock data using Excel stocks and the Google Finance Function while using Wisesheets for fundamental data and key ratios.
The downside of taking the spreadsheet approach is that if you are looking to perform large machine learning models and algorithms for trading, you may not be able to do it effectively since spreadsheets tend to slow down if you perform many calculations on a lot of data. However, the cost is affordable for individuals at $60 per year for a Wisesheets subscription.
How to choose the best stock market data provider method
The best stock market data, provider, and method for you really depends on your needs as an investor or trader. For example, a web platform like Yahoo Finance or Google Finance is an excellent option if you need to get stock data quickly for only a few stocks. On the other hand, if you need more customization and control over the data for large-scale applications, then an API might be the better option. And, if you need to be able to analyze a large number of stocks simultaneously, then getting stock data in your spreadsheet is the best option.
The cost of each solution also needs to be considered as well. While web platforms and APIs can be free, they can also be expensive. Spreadsheets add-ons are generally the most affordable option, with Wisesheets costing only $60 per year.
Ultimately, the best solution for you will depend on your specific needs as an investor or trader. However, if you need help deciding which option is best for you, then feel free to email us at firstname.lastname@example.org, and we would be happy to assist you.
There are many different options available for getting stock market data. The best choice for you will depend on your specific needs as an investor or trader. If you need help deciding which option is best for you, then feel free to email us at email@example.com, and we would be happy to assist you.