Maintaining a diversified portfolio is one of the fundamental rules of investing, but keeping a close eye on each investment can be an intimidating task, especially if you are juggling multiple investments such as stocks and ETFs. Tracking these investments requires a comprehensive system that allows you to stay updated about the market trends, profit or losses in real-time, and keep an eye on individual securities. Here are some of the best strategies to track stock and ETF performance effectively.
1. Use of Portfolio Tracking Tools:
One of the most efficient ways to track stock and ETF performance is by using portfolio tracking tools. These applications and sites provide real-time information about each of your investments, which saves you time than going through each investment manually. Reliable portfolio trackers such as Morningstar, Google Finance, and Yahoo Finance allow you to track your investments, and provide information about their historical performance, key ratios, and dividends. They also provide tools to analyze your investments based on various parameters, thereby enabling you to make crucial decisions timely.
2. Financial News Services:
Keeping abreast of the latest financial news can give you valuable insights into the stock market’s current trends and help predict the future performance of stocks and ETFs. By subscribing to financial news outlets such as Bloomberg, The Wall Street Journal or Financial Times, and following industry-specific journals, you can receive real-time news about your investments. These outlets can also provide in-depth analyses of market trends and help contextualize your investments within the larger market.
3. Brokerage Account Tools:
Typically, your brokerage account will have its real-time tracking tool. Often, these tools will include features such as charts, news updates, analysis reports, and performance tracking elements making them crucial for any investor wishing to keep a close eye on their stocks and ETFs. Some of the most efficient tools are provided by brokerage companies like Charles Schwab, Fidelity, and TD Ameritrade, providing you with up-to-date information about your investments.
4. Investment Reports:
In this digital age, most fund and company houses offer detailed quarterly or annual investment reports to investors. By regularly reviewing these reports, you can get a comprehensive view of the company’s financial health, management decisions, future plans, and much more. This information can help you understand the driving factors behind stock or ETF performance and assist in forecasting future trends.
5. Financial Advisory Services:
Lastly, leveraging expertise from financial advisory services can help expand your knowledge and interpret the collected data from stocks or ETFs. These services have financial experts who analyze markets and can provide personalized advice tailored to your investment portfolio.
These are among the best ways of tracking your stock and ETF performances. However, it is essential to remember that investing involves risks, and tracking them in isolation will not ensure success. By actively tracking your investments and staying updated on market trends, you can make well-informed decisions, manage risks better and maximize your potential returns.
