Pair Parade vs PairTradingLab: Detailed Comparison
Quick Answer
PairParade is built for fast, simple screening of cointegrated US stock pairs in a modern web UI. PairTradingLab (pairtradinglab.com) is a more “quant toolkit” style platform with a very large pre-analyzed pair database, an online backtester/cointegration analyzer, portfolio tooling, and a separate open-source automation app (PTL Trader) for Interactive Brokers execution. If you want the quickest, lowest-friction workflow, PairParade is usually the better starting point. If you want deep research tooling and optional automation, PairTradingLab is often a strong contender.
Note: This comparison is educational only (not investment advice). Pricing/features can change—verify on vendor pages.
At a Glance
PairParade
- Best for: simple screening + fast shortlist creation
- Platform: web app (browser)
- Core workflow: filter cointegrated pairs, inspect metrics, review charts, set alerts
- Pricing: free plan + low monthly plans
PairTradingLab
- Best for: research/backtesting workflows and large pre-analyzed universe
- Platform: web tools + separate automation app (PTL Trader)
- Notable: up to 10,000,000 pre-analyzed US market pairs (per vendor)
- Execution: PTL Trader supports Interactive Brokers (per vendor)
Sources: pairtradinglab.com, Pricing, PTL Trader
Feature Comparison (Practical)
| Category | PairParade | PairTradingLab |
|---|---|---|
| Onboarding / learning curve | Generally faster to start; focused UI. | More “toolbox” depth (database, models, backtests, portfolios) → typically more to learn. |
| Pair discovery | Screener workflow with filters (industry, market cap, z-score, correlation, cointegration, similarity). | Large pre-analyzed Pair Database (up to 10M pairs) with filters and stats (per vendor). |
| Fundamental alignment (company similarity) | Built-in Similarity Score derived from company profile language analysisto help confirm the two companies’ fundamentals align before you trade a pair. | PTL includes extensive stats/models; a dedicated “profile-language similarity” signal is not typically highlighted in vendor materials—fundamental checks are often done outside the platform. |
| Backtesting | Primarily screening + analysis (not positioned as a full backtesting suite UI). | Advanced online backtester + “models” (ratio/residual/kalman variants) and portfolio backtesting (per vendor). |
| Cointegration analysis | Cointegration-first screening and metrics. | Dedicated online cointegration analyzer (per vendor). |
| Portfolio tooling | Focused on shortlists/alerts; portfolio tooling is lighter. | Portfolio organizer + portfolio backtesting (per vendor). Free tier has limits (see pricing). |
| Automation / execution | Signals-first; you execute at your broker. | PTL Trader supports live/paper trading via Interactive Brokers (per vendor). Requires Java + IB TWS/IB Gateway. |
| Market coverage | US equities focus (PairParade plans define universe). | Vendor states US stocks/ETFs for backtesting and USD-based execution restrictions for PTL Trader. |
Practical takeaway: PairTradingLab can be excellent if you enjoy model/backtest work and want an automation path (PTL Trader). If you prefer fewer moving parts and a clean “screen → decide → execute” loop, PairParade will usually feel faster.
Pricing Comparison
| Product | Free tier | Paid pricing | Notes |
|---|---|---|---|
| PairParade | Yes (limited access) | $15/mo Basic, $25/mo Premium | Basic includes S&P 500 pairs; Premium expands the stock universe (as shown in-app). |
| PairTradingLab | Yes (“Regular Membership” is free, with limits) | $59/mo (requires buying ≥ 6 months) or $69/mo month-to-month (per vendor) | Premium unlocks unlimited Pair Database access and removes portfolio/strategy limits. Vendor notes Premium is not available to UK customers due to Brexit-related complications. |
PairTradingLab pricing reference: pairtradinglab.com/go-premium
Which Should You Choose?
Choose PairParade if…
- You want the simplest screening workflow with minimal setup.
- You prefer a modern browser UI and straightforward filters.
- You want a low-cost tool (with a free tier) to learn and trade.
- You execute manually at your broker and just need clean signals + context.
Choose PairTradingLab if…
- You want a huge pre-analyzed pair database and detailed stats.
- You like researching models and running backtests/portfolio tests.
- You want an automation path via PTL Trader + Interactive Brokers.
- You’re OK with a more technical setup (Java, IB Gateway/TWS, VPS).
Try PairParade First (Fastest Baseline)
If you’re deciding between tools, it helps to start with a simple baseline workflow. Use PairParade to build a shortlist quickly, then compare how much extra value you get from deeper backtesting/automation.