This content originally appeared on Level Up Coding – Medium and was authored by Pranjal Saxena
EODHD versus Google Sheets and Excel — Tailoring Data Solutions to Fit Your Needs
Investors and analysts rely on accurate financial data for making informed decisions. However, the built-in financial functions of Google Sheets and Excel often fall short in providing holistic and versatile data.
This is where EODHD’s add-ons come into play. Designed to enhance financial data analysis, these add-ons offer an array of features that surpass the standard options available in Google Sheets and Excel. Let’s explore how EODHD is transforming the landscape of financial data management.
Financial Data Add-ons
Financial data add-ons are specialized tools that enhance the capabilities of spreadsheet software. Financial data add-ons for Google Sheets and Excel by EODHD stand out by providing extensive data coverage and advanced features. Users can access historical, intraday, and live data across a variety of securities, including stocks, ETFs, indices, bonds, and cryptocurrencies. This holistic data access is crucial for conducting detailed financial analysis.
What sets EODHD apart is the ease of use. Unlike traditional financial functions that require complex formulas, EODHD’s add-ons are formula-free. Users can search for tickers and set conditions without any hassle, and the data is automatically populated in the spreadsheet. This user-friendly design saves time and minimizes errors.
In addition to ease of use, these add-ons come equipped with advanced financial tools such as screeners, technical indicators, and bulk data requests. These tools provide deeper insights and more robust analysis capabilities than the default functions in Google Sheets and Excel. Furthermore, users benefit from 24/7 live support, ensuring any issues or questions are promptly addressed by technical experts.
EODHD also offers flexible subscription plans to cater to different needs and budgets. While the free plan provides limited data access, extended plans starting at $19.99 per month offer a broader range of data and features. This tiered pricing structure allows users to select the plan that best fits their requirements.
- Financial Data – Google Workspace Marketplace
- Financial Excel Add-on For Historical, EOD, Intraday & Fundamental data. Video tutorial
Key Features of EODHD Add-ons
- Holistic Data Access: EOD historical, intraday, and live data for stocks, ETFs, indices, bonds, and cryptocurrencies.
- User-Friendly Interface: No need for complex formulas; search for tickers, set conditions, and get data easily.
- Advanced Financial Tools: Includes screeners, technical indicators, and bulk data requests.
- 24/7 Live Support: Prompt assistance from technical engineers whenever needed.
Comparative Analysis: EODHD add-on vs. Google & Excel Built-in Functions
In this section, we will compare the capabilities of the EODHD add-ons with the built-in financial functions of Google Sheets and Excel. This comparison will help highlight why EODHD stands out as a superior tool for investors and analysts. We will focus on four key areas: historical data, fundamental data, intraday data, and financial tools.
Data Access and Variety in Financial Information
Data Retrieval in EODHD is simple and straightforward. In the google sheet or excel navigate to the EODHD add-on, and input your API key. Select the ‘Intraday Data’, ‘EOD Historical Data’, or ‘Fundamental Data’ from the EODHD toolbar. Specify your parameters like ticker symbol, date range, and data frequency to fetch customized data directly into Excel.
On the other hand, in Google Sheets, data retrieval is typically done using the GOOGLEFINANCE function where you enter a formula like =GOOGLEFINANCE(“ticker”, “attribute”) to get data. This method is simpler but less flexible, primarily offering real-time or daily historical prices without options for minute-by-minute intraday data or detailed fundamental financial metrics.
Accessing EOD (End-of-Day) Historical Data
When it comes to accessing end-of-day (EOD) historical data, both EODHD and the built-in functions of Google Sheets and Excel provide useful tools, though their offerings differ significantly in scope and depth.
EODHD’s Extensive Data Coverage
- Global Exchanges: EODHD stands out by offering data from over 60 global exchanges, which is extensive compared to the typical coverage found in Google Sheets and Excel.
- Historical Depth: It provides up to 30 years of historical data, allowing for deep historical analysis and back-testing of financial models over long periods. This depth is particularly beneficial for financial analysts and researchers who require access to historical market trends and performance.
Steps to Access EOD Data in EODHD:
- Select Data Source: Navigate to the EODHD add-on or API interface where you can specify the stock or financial instrument of interest.
- Customize Date Range: Input the specific date range for your data retrieval, up to 30 years back, depending on your subscription and data availability.
Google Sheets and Excel’s Built-In Functions:
- Market Coverage: The built-in functions in Google Sheets and Excel, such as GOOGLEFINANCE in Google Sheets, generally have more limited coverage. They focus mainly on major markets and provide data that might not encompass as many global exchanges.
- Data Range: These functions typically offer up to 20 years of historical data, which is sufficient for many users but does not match the breadth offered by EODHD. This limitation might impact users needing longer historical spans for their analyses.
Accessing Fundamental Data
EODHD provides extensive fundamental data through its Google Sheets add-on, which is particularly useful for users needing in-depth financial analysis.
The fundamental data available through Google Sheets and Excel built-in functions, such as GOOGLEFINANCE in Google Sheets, is more limited. Typically, you can access basic financial metrics such as current price, market cap, P/E ratio, and perhaps dividends. However, more detailed financial reports like full income statements or balance sheets are not available.
Here is how you can access Fundamental Data with EODHD add-ons:
- In the add-on menu, select ‘Fundamental Data’ from the list of available data types.
- Enter the ticker symbols and click on ‘Insert data to a new sheet’.
- The retrieved data is directly integrated into your Google Sheets, making it readily available for analysis and reporting.
Accessing Intraday Data
Intraday data, which provides detailed price movements within a single trading day, is crucial for traders and analysts who perform short-term market analysis.
EODHD provides intraday data in fine-grained intervals (as detailed as 1-minute intervals), which is ideal for high-frequency trading analysis. It covers a vast array of instruments and markets, offering data not just for stocks but also for ETFs, indices, forex, and commodities.
On the other hand, Google & Excel built-in functions does not offer intraday data.
Here is how you can access intraday Data with EODHD add-ons:
- In the add-on menu, select ‘Intraday Historical Data’ from the list of available data types.
- Enter the ticker symbols, select the interval, date ranges, order and then click on ‘Insert data to a new sheet’.
- You will get your desired intraday data to a new sheet.
Utilizing Financial Tools
When it comes to advanced financial analysis, having access to holistic tools like screeners, technical indicators, bulk data access, and detailed fundamental and EOD (End-of-Day) data can significantly enhance the depth and breadth of your analysis.
EODHD offers these tools through their platform, which can be integrated into financial workflows, including those used in Google Sheets and Excel.
- Screener
The Screener tool in EODHD allows users to filter and find stocks based on specific criteria such as market cap, P/E ratio, dividend yield, and many other financial metrics.
This tool is essential for investors looking to identify potential investment opportunities based on predefined or custom criteria.
2. Technical Indicators
EODHD provides a range of technical indicators such as moving averages, RSI (Relative Strength Index), MACD (Moving Average Convergence Divergence), and more. These are crucial for technical analysis to predict future market movements based on historical data.
Traders use these indicators to make informed decisions on buying and selling stocks.
Ease of Use
When it comes to financial data analysis, the ease of use can significantly influence productivity and user satisfaction. Both EODHD add-ons and the built-in functions of Google Sheets and Excel offer unique advantages, tailored to different user needs.
EODHD add-ons are designed for simplicity and efficiency, EODHD add-ons eliminate the need for writing formulas, making them accessible to users of all skill levels. Features like automatic ticker search and graph building streamline the process of data analysis, allowing users to focus more on decision-making rather than data manipulation.
While in google sheets and excel built in functions, user requires a foundational understanding of formulas and functions to retrieve and analyze data. While this offers flexibility and powerful customization options for advanced users, it can pose a steep learning curve for beginners.
Support
Support services are crucial for users when they encounter issues or need guidance in utilizing financial tools effectively.
EODHD stands out by offering live support directly with technical engineers. This service is invaluable for resolving issues promptly and accurately, ensuring users can continue their work with minimal disruption. Their support team is not only equipped to assist with general queries but can also provide technical assistance, including guiding users on how to use features, troubleshooting API issues, or even correcting data discrepancies when necessary.
While Google Sheets and Excel do not typically offer live support, they have extensive community forums and a wealth of online resources. Users can find help through community-driven support, which includes user forums, detailed help articles, and tutorials.
Subscription
EODHD Subscription Plans
- Free Plan: EODHD offers a free plan that provides limited access to EOD Historical and live data. This is ideal for users who need basic data or those who want to test the services before committing to a paid plan.
- Paid Plans: Starting from $19.99 per month, EODHD’s paid plans offer extensive access to a broader array of data including more detailed historical data, intraday data, fundamental data, and more. These plans are designed to cater to the needs of serious investors and financial analysts who require holistic data and advanced features.
- Customization and Flexibility: Paid subscriptions also offer greater flexibility and customization options, allowing users to tailor the data services to their specific needs.
Google Sheets and Excel
- Google Sheets: Google Sheets is primarily free to use with a Google account, but accessing financial data through built-in functions like GOOGLEFINANCE does not require an additional subscription. For more advanced integration and automation within the G Suite ecosystem, users might consider Google Workspace plans.
- Excel: Excel requires a subscription to Microsoft 365 for the latest versions, which includes access to Excel along with other Office apps and services. While Excel provides built-in financial functions, the more sophisticated data analysis tools and cloud services are part of the paid Microsoft 365 subscription.
Conclusion
Throughout our analysis, it’s evident that EODHD and Google Sheets/Excel serve distinct user bases in the realm of financial data tools. EODHD excels by offering in-depth, specialized financial data and tools tailored for advanced users, supported by live technical assistance and flexible subscription options starting at $19.99/month.
In contrast, Google Sheets and Excel provide fundamental financial functionalities suitable for casual users at no extra cost, prioritizing accessibility and ease of use over depth. Therefore, the choice between EODHD and traditional spreadsheet tools should align with the user’s specific requirements for data depth, technical support, and budget.
Why EODHD Financial Data Add-ons Beat Google & Excel’s Built-in Functions was originally published in Level Up Coding on Medium, where people are continuing the conversation by highlighting and responding to this story.
This content originally appeared on Level Up Coding – Medium and was authored by Pranjal Saxena