Which type of data provides insight into a financial instrument's historical trends?

Market data is essential for gaining insight into a financial instrument's historical trends because it encompasses a range of quantitative information that reflects past performance. This data includes price information, trading volumes, and market depth over specific periods, allowing analysts and traders to identify patterns, volatility, and shifts in market sentiment. Historical market data helps in assessing how various factors, such as economic events or changes in regulations, have influenced the price movements of financial instruments over time. This analysis is fundamental for making informed trading decisions, back-testing strategies, and forecasting future performance based on past trends.

In contrast, market news pertains to the latest updates and happenings that can influence market sentiment but does not specifically provide historical trends or data necessary for detailed analysis. Real-time analysis focuses on the current state of the markets rather than their historical performance, which is less useful for understanding long-term trends. Holiday calendars might indicate non-trading days that can affect market activity, but they do not provide any direct insights into past performance or trends of financial instruments.