FinanceDatabase Guide – A Comprehensive Database of Financial Symbols (Python Package)

The article “FinanceDatabase Guide – A Comprehensive Database of Financial Symbols (Python Package)” first appeared on AlgoTrading101 blog.

Excerpt

What is FinanceDatabase?

FinanceDatabase is a Python package of 300.000+ symbols containing Equities, ETFs, Funds, Indices, Currencies, Cryptocurrencies, and Money Markets.

Link: https://pypi.org/project/financedatabase/

What is FinanceDatabase used for?

FinanceDatabase is mainly used for any type of financial product categorization. Moreover, it gives insights into the products that exist in each country, industry, and sector and gives the most essential information about each product.

This allows algorithmic traders and investors to analyze specific financial segments and helps them find assets that are hard to uncover. For example, it is used within the OpenBB terminal.

Why should I use FinanceDatabase?

• The FinanceDatabase is comprehensive.
• The FinanceDatabase has over 300k assets.
• It is easy to use and beginner friendly.
• It is open-sourced.
• Has good filtering capabilities.
• Is actively maintained.

Why shouldn’t I use FinanceDatabase?

• The FinanceDatabase doesn’t provide up-to-date fundamentals or stock data (it doesn’t have that goal).
• The FinanceDatabase doesn’t hold all possible assets.
• It is maintained by an open-source community so some information might be outdated.

Is FinanceDatabase free?

Yes, FinanceDatabase is open-sourced and thus it is completely free.

What are some FinanceDatabase alternatives?

The FinanceDatabase doesn’t have direct alternatives but some of them are:

• Marketstack
• MarketWatch
• Bloomberg Terminal
• Quandl

What kind of data does FinanceDatabase have?

FinanceDatabase has approximately the following kind of data:

How to get started with FinanceDatabase?

To get started with FinanceDatabase, you will need to install its Python library with the following command:

pip install financedatabase

In the following article sections, we will explore what the FinanceDatabase has to offer and how it can be used for conducting financial research.

import financedatabase as fd

How to get general data with FinanceDatabase?

To get general data with FinanceDatabase, you will need to initialize the part of the database you want to use (e.g. equities) and use the filtering methods such as options, select and search.

For example, let’s initialize the equities database and obtain all industries from a specific country:

equities = fd.Equities()

equities_germany_industries = equities.options('industry', country='Singapore')
equities_germany_industries

array(['Aerospace & Defense', 'Air Freight & Logistics', 'Airlines',
       'Auto Components', 'Automobiles', 'Banks', 'Beverages', ...

We obtain all of the 55 industries in Singapore, feel free to experiment with other countries.

Now, let’s obtain all equities from a specific country such as the USA:

equities_united_states = equities.select(country="United States")
equities_united_states.head()

How to perform an advanced search on the FinanceDatabase?

To perform an advanced search on the Finance Databse, you can use the search method and pass multiple parameters to limit your search to a specific market segment.

For example, let’s obtain all Swedish software companies that have the word “cloud” in their summary and are part of the FRA exchange:

equities_sweden_software = equities.search(
    country='Sweden',
    industry='Software',
    summary="cloud",
    exchange="FRA"
)
equities_sweden_software

Visit AlgoTrading101 blog to learn how to collect data from the FinanceDatabase.

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