As a serious investor, you probably know how much time and effort is put into tracking and analyzing your stock portfolio. However, you’re aware that to have better chances and lower risks this is a vital procedure. Have you ever imagined there will be times when you don’t have to do this all by yourself?
Well, those times have come. We live in a world full of possibilities. The demand for software use is significantly growing. The estimated value of the stock trading app market is said to be around USD 13.6 billion in 2022.
All thanks to artificial intelligence, you now have all kinds of tools to help you organize your assets and even create investment strategies.
If you’re a busy person and investing is a side activity of yours you’ll probably find this extremely helpful. The same goes for those who just started and are maybe a little bit too cautious. Everybody needs assistance from time to time, no matter how experienced they are.
This is why, in this article, we’re going to discuss the top 7 tools for stock portfolio analysis.
Let’s delve right into it!
Choosing the best stock portfolio analysis tool
Every investor has different interests and expectations. Not everyone has the same perspective. One thing is certain though, this is a fast-paced world where time management is of the essence.
With the help of portfolio analyzers, you don’t need to worry if you have one or multiple investment portfolios. Investment tracking and management have never been easier!
To help find the best seven stock portfolio analysis tools, different goals have been taken into consideration. Based on what these tools do best, we’re going to break the benefits into subcategories:
- Simplicity at its best
- Backtesting as an integral component
- Retirement planning
- Stock research ability
Simplicity at its best
Most of us don’t want to be overwhelmed with too much information. Sometimes, simplicity is what works best, especially if you’re a beginner in the stock market. If you agree with me on this one take a look at these next tools:
1. Kubera
I’ve decided to start with the most simple one, but not the least modern.
Privacy matters for Kubera. You can open an account, store your personal data and sleep soundly, not worrying about it being sold for marketing purposes.
Besides being able to track stocks, Kubera is the only platform to offer DeFi tracking, so it’s definitely worth checking out.
The possibility to receive advice from global brokers is also available. You may be a bit disappointed in knowing that this is a premium product. If you want to receive everything from the above it’ll cost you $15 per month or $150 per year.
Keep in mind that this tracker has the most connections and isn’t trying to complicate your life. That said, Kubera is definitely worth the price!
2. Morningstar
Morningstar will provide you with insightful analysis that no other tool can provide. While being very pricy, $199 annually, it still offers you the best simplified visual representation.
It’s also beginner friendly because the charts and statistics are really not that complicated.
Backtesting as an integral component
Have you ever said to yourself: ‘’I wish I had a time machine’’? Well, now you do. Trying to backtest a stock portfolio can help you test a strategy on historical data and see how it would’ve turned out.
It doesn’t mean that the same opportunity will be available to you in the future, but at least you’re going to provide enough data to help you make future predictions once you’ve set your financial goals.
This next tool has literally become one of the favorites mostly because it offers the backtesting method.
3. Portfolio visualizer
It’s safe to say that Portfolio Visualizer is too advanced and offers various sets of tools for your stock portfolio analysis. You can still choose based on your level of experience, but Portfolio Visualizer is mostly recommended for skillful investors.
If you’re just curious and exploring, the free version would be awesome for you, since the only thing it doesn’t allow you is to import portfolios. Anyways, if you’re interested in more, the basic plan they offer costs $19 monthly.
Retirement planning
We never know what the future holds. This is why every one of us has savings. Did you know that stock portfolio analysis tools can help you with saving strategies as well? You will basically have an investment plan and part of your earnings will be kept for when you retire.
Sounds tempting? If so, take a look at these next apps:
4. Personal Capital
Persona Capital is the best example that sometimes free applications are a blast. This application offers you access to real-time support and an opportunity to work with a financial advisor.
Just set your financial goals and this app will make sure they come true. It will provide you with the necessary analysis and will help you avoid risky situations at any cost.
Most importantly, the retirement planner calculator will provide you with analysis beforehand, so you’ll always know your available funds for future spending and saving.
5. Quicken
Besides the analyzing option, with Quicken you can also make buying and selling decisions. You can also connect it to your bank to track your current bank budget, not only your stock portfolio.
This app is available for Windows and Mac as well, with four different versions for Windows and three versions for Mac. This is a good thing because it gives you the option to choose what you think is best for you.
As mentioned above, one of its’ perks is the retirement planner tool. Quicken will also provide you with tax reports and help you minimize investment taxes.
Volatility
Did you know you have better chances of earning when the market is the most volatile? That is correct, but with this also comes the highest risk.
Volatility is the measure of variations in a trading price of an asset in a certain timeframe.
Next, we’re going to evaluate a tool that can help you with volatility analysis.
6. SigFig
SigFig is not your typical investment portfolio analyzer. It offers a free portfolio tracker and is one of the best platforms to offer volatility. SigFig also provides a very distinctive picture between stocks and bonds.
Like most stock portfolio analysis tools, it also has a free and premium version. If you’re interested in portfolio management you’ll have to invest at least $2000 and also pay an annual fee of 0.25% for every investment bigger than $10.000.
No worries, this application is also available for smartphones and tablets, so you’ll have access at basically any time of the day.
Stock research ability
As a stock investor, once you decide how much you want to invest and how high your expectations are you’re ready for the next step: Decide what you’re going to invest into.
This is easier done when you have a research button and various options and explanations to choose from. That is why I highly recommend starting with:
7. Seeking Alpha
Its reputation precedes it. Starting in 2014, Seeking Alpha has been continuously improving in the course of these last years. It has made the list of the best analysis tools out there.
It offers you basic, premium, and PRO versions. The annual fee for the premium is $239, while the annual fee for the PRO version is $499. It sounds like a lot, but you’ll sleep better knowing your money is in good hands.
It is also good to know that everything is automatically updated, so no need to fill in everything manually.
Start 2023 with a new analyzing tool
Investing in stocks is not a joke. It gets a lot of media coverage nowadays. I haven’t met a person who hasn’t tried it at least with a small amount. At the end of the day, people just want to provide a stable income for themselves and their families and while doing this they forget to relax.
This is why it’s important to seek help from time to time. You can forget about endless hours spent overthinking. Now, you have a stock portfolio analysis tool to do the job for you.
You know what they say: ‘’You’ll never know unless you try’’! Just think of what your portfolio needs help with, find the app that offers exactly that, and try it out starting today.
Author bio
Makedonka Micajkova is a freelance content writer and translator, always bringing creativity and originality to the table. Being multilingual with professional proficiency in English, German and Spanish, it’s needless to say that languages are her biggest passion in life. She is also a skilled communicator, as a result of having three years of experience as a sales representative. You can find her on Linkedin.
