R vs Python
Hi, I’m an incoming S&T intern who majored in economics and has done a lot of coursework in R , but only a little in python. I want to work on a macro desk, and was wondering if R will be sufficient and if R is used or if R is completely irrelevant and I need to focus on Python? Thanks
HF people have told me they use both. screening data to find metrics for you is why to use python
Normally, knowing one coding language is sufficient as most coding languages used for practical applications (python, c#, Matlab, R) are similar.
So if you're good and comfortable on R, just stick with it and develop that skillset. However, you might find yourself in a team that predominantly codes in some other language. Then it's really up to you and your commitment level to learning and getting up to speed with the programming language used in your team.
What would you say the most common applications of programming are that you have seen?
Oops, misread your comment.
Most common applications of coding in finance: Statistical analysis (linear, quadratic, multivariate), Optimization, data management / manipulation, mundane calculations that can be done on excel (just much faster and for much larger data set with faster repetitions/iterations), automation of the above.
Typically all of these can be done to an extent in excel theoretically. But once you come across very large sets of data via SQL and/or have complex calculations to run, excel will more likely than not crash your PC regularly.
I'm not a good enough coder to know much about AI / Machine learning so maybe some folks who do know about these topics within the realm of finance can give you more insight.
Python.
We (commodities trading shop) use a lot of Python for modelling and development - it's so widely used everywhere knowing how to write Python to a decent standard is a valuable skill
It’s useful to know both but at the early stage of your career focus on knowing one really well. Most juniors don’t so you’ll have a leg up + plenty of time to learn the other. Python is used in more groups but know the research groups use R. For now, showing your good at R is in your favor and wait till you’re above avg. in python before showing. Good luck!
Python is a predominately used language across all industries. Hearing about R being used is a first on my end since I know R working in Oncology Clinical Research.
Stick with Python, it'll work out well for you.
Python that’s a no brainer
Python bar none. If you learn python you can leverage it to other things such as automation and software development.
R is mainly for data analysis only.
R is pretty useful but Python/C/SQL is where it’s at
Python and not even close
Convert to python. Start by downloading spyder as your IDE (almost identical to RStudio) and importing a package called pandas. You will find that there is a lot of cross-over and you will pick things up quickly. My experience is that Python is standard in the industry and R is only really used by academics in research because it's better for hardcore statistical analysis.
To piggyback off this - in the quant space, a lot of people still use R. This isn't because its better, its just because python didn't exist when a lot of these guys entered into the industry (anyone 35+ rn). Once you get proficient in one thing, you tend to stick with it until you cant. Switch to python while you're still early.
R is used as the main language in clinical data programming. It’s quite fascinating what can be done.
Python is older than R
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