Today we’re doing a Finviz review. IT is one of my favorite sites with lots of great tools, and most of them are free!
There are many retail finance sites out there.
One of the most famous is Finviz.
This article gives an overview of their website and discusses some of the valuable features that are available to users.
Two of my favorite tools in Finviz are Groups and Maps.
As a trader, it is always useful to have an overview of the market to see how the sectors are performing over the course of the day.
When I started studying it helped to check out how each sector was doing every day.
This way, over time, I was able to get a feel for how the sectors correlate with each other and how they react differently to market news.
The group area does a great job of showing this off.
Here we see how the sectors developed over the course of the day and week.
While this information is available on myriad other websites, I enjoy the ability to scroll down and see the real-time performances for extended periods of time.
This is useful as Finviz shows the 1 month, 3 month, half year and year performance in an easy to see format.
All you have to do is just scroll down.
This allows us to see longer-term sector rotations and performances in addition to shorter-term moves.
Access 9 FREE Option Books
In the groups section, you can also toggle to see some fundamentals for the sectors like P / E and dividend yields.
These are useful but difficult to compare as different sectors should of course have different ratios.
However, for value investors, it makes sense to compare the same sectors in different countries.
The map area is also popular on Finviz.
The maps section allows investors to break down the sectors to see the performance of their biggest stocks. Everything in one visual (see below).
While the heatmap is pretty cool to see in fairness, I haven’t found any practical use for it.
Even so, it’s a popular image when the market has a big sell-off.
Just post a screenshot of a completely red heat map on Twitter with the tag “sea of red” and you will surely get a comment.
That being said, I always find it fun to look for that one green spot when the market has a big sell-off. Not a bad idea to pick some of these stocks in a portfolio!
By far my favorite feature in Finviz is the free stock screener.
This allows users to take a top-down approach and find stocks based on multiple descriptive, fundamental, and technical values.
The great thing about Finviz’s stock screener is simply the number of options available.
There are easily 50+ filters you can use to create a custom screen.
To switch between the different filters, just click on the basic or technical headings.
Another cool thing about the Finviz screener is that you can save a favorite multi-variable scan.
That way, you can always use it without having to recreate the screen.
To use this feature, all you need to do is sign up for the free version and create an account.
I find the ability to use the Screener tool to search for a shortlist of stocks can be invaluable.
It’s quick and easy.
It also eliminates the tendency to find a cool stock by chance while avoiding better options.
Here is an example of a Finviz screener I use to find technically strong mega-cap stocks.
The news section in Finviz offers the latest articles and blogs from important publications.
The useful thing is that these publications are sorted by time so that you can see the latest articles.
More importantly, it hides a lot of those “robot news” stories that insert the ticker of a stock with a generic article that doesn’t convey any value to the reader.
Alternatively, you can change the page to show by source, which shows the latest articles separated by publication.
Granted, if I took the steps to do this, I’d rather open the Bloomberg website myself.
On a personal level, some well-displayed pictures can make me read the articles more easily.
Even so, it’s worth checking out the news section for the sheer amount of recent articles you can see on a single page.
Some people may find it more straightforward and enjoyable than other websites.
These are the areas of the site that I don’t find very useful.
The Futures, Forex and Crypto are basically heat map sections, but in my opinion they are kind of disjointed.
For example, with the crypto heat map below, we have the cryptocurrencies against the USD, then we have them against the euro and then against each other again.
It just seems kind of chaotic. For the average investor living in the United States, knowing the price of bitcoin in euros is not very relevant.
The currency section is similar in that it also mixes and uses crosses.
It would be nice if only one base currency is shown in the local currency and the other currencies against it.
The insider section gives details about transactions, but little value.
The reality is that tradable information in this area is hoarded, expensive, and almost priced in by the average investor’s eye.
Often times, insider trades are viewed as signals when there can be so many reasons why a company member is buying or selling stocks.
Perhaps what you thought was tradable information from the CEO selling stocks was actually that his yacht club renewal is due!
However, if you find a tradable benefit, please leave it in the comments below!
Is Finviz Elite worth it? Let’s take a look.
While basic membership at Finviz is free, elite membership costs $ 25 per month.
Aside from real-time data, the main difference is access to the backtest area.
Unless you plan on using the backtest version, it’s definitely not worth paying $ 25 a month for some minor upgrades.
After all, the map and group sections are only 5 minutes late.
Since I would be using this for a general industry overview anyway, it would make practically no difference to me.
If you want to use the backtest feature because you don’t have it from any other platform, it may be useful to give it a try.
In that case, I’d suggest listing a number of different backtests that you might want to run so that you can really get the full value out of it.
Since it’s monthly, you can always do lots of back tests, cancel, and come back later when you have more ideas.
Overall, the basic version is sufficient for most people.
Finviz is a cool finance website.
It’s definitely one of the best free sites overall as it has a great market overview as well as a pretty good scanner.
At the end of the day there are plenty of other competitors offering financial information,
so it can depend a bit on personal preferences.
That being said, if you haven’t tried Finviz before, it is definitely worth a look to see if it could be of value to you.
Disclaimer: The information above is for For educational purposes only and should not be treated as investment advice. The strategy presented would not be suitable for investors who are unfamiliar with exchange-traded options. All readers interested in this strategy should do their own research and seek advice from a licensed financial advisor.