Question
Asked 27 February 2017
R software for statistical computing : useful in finance ?
I'm looking for useful "packages" (and advices!) for financial research with R : descriptives stat, correlation matrix, normality test, linear reg...
Most recent answer
R is definitely a good software that worth learning and using. Many packages are available in R for finance and other areas. If you go for complex econometric modelling, then R is really useful as you can create your own model and execute it. If you do research which involves only intermediate level of modeling, then there might not be a big difference among softwares. Still R is good because it is industry standard and available for free. Eviews is another useful software. Most of the econometrics books use Eviews to explain the content. Books on financial econometrics also use Eviews to explain the content. Eviews is easy to use. But I strongly recommend R. The reason becomes obvious once we get familiar with R for econometric analysis in finance. AN INTRODUCTION TO ANALYSIS OF FINANCIAL DATA WITH R by Tsay, and Analysis of Financial time-series by Tsay are two books one must go through for learning R for finance.
All Answers (7)
Ss. Cyril and Methodius University in Skopje
A list of R packages related to finance you can find here:
There are several books on this topic; I recommend this two books:
- Bennett, Mark J., and Dirk L. Hugen. Financial Analytics with R. Cambridge University Press, 2016. http://www.cambridge.org/au/academic/subjects/statistics-probability/statistics-econometrics-finance-and-insurance/financial-analytics-r-building-laptop-laboratory-data-science?format=HB&isbn=9781107150751
- Ang, Clifford. Analyzing financial data and implementing financial models using R. Springer, 2015. http://www.springer.com/us/book/9783319140742
Also, I recommend subscribing to DataScinceCentral http://www.datasciencecentral.com/ where you can find many useful tips and resources on Data Science.
Deakin University
I would recommend you use Minitab, Statgraphics XVII and Statistica. These softwares are much better than R
University of Diyala
Dear Jérémy
Please, use the following link, I hope will be useful for you.
and:
Good Luck
Universidad de Las Américas
R is very powerful and has some packages design for finance. R does take some time to learn, but it is worth the trouble.
Université de Bretagne Occidentale
I tried several functions : I had to grope a bit... After trial and error, it seems very powerful
R is definitely a good software that worth learning and using. Many packages are available in R for finance and other areas. If you go for complex econometric modelling, then R is really useful as you can create your own model and execute it. If you do research which involves only intermediate level of modeling, then there might not be a big difference among softwares. Still R is good because it is industry standard and available for free. Eviews is another useful software. Most of the econometrics books use Eviews to explain the content. Books on financial econometrics also use Eviews to explain the content. Eviews is easy to use. But I strongly recommend R. The reason becomes obvious once we get familiar with R for econometric analysis in finance. AN INTRODUCTION TO ANALYSIS OF FINANCIAL DATA WITH R by Tsay, and Analysis of Financial time-series by Tsay are two books one must go through for learning R for finance.
Similar questions and discussions
Could you please recommend a software for computing nonlinear correlation (just take a data and compute)?
- Maksim Sokolovskii
One could suppose that for some variables in social sciences and psychology could be an optimal level as well as in ecology and biology, so we could find a nonlinear correlation between variables.
Looks like exists a bunch of such methods and even linear correlation could someway catch nonlinear dependencies https://goldinlocks.github.io/Comparing-Linear-and-Nonlinear-Correlations/
Probably better nonlinear correlation coefficients are Distance correlation, Cosine similarity and Maximal information Coefficient.
Does exist some software for computing these coefficients and their p-levels by easy-way, without some programming?