All in all, 891,171 other conditions exists regarding the Monetary Minutes corpus

All in all, 891,171 other conditions exists regarding the Monetary Minutes corpus

I begin our very own studies of one’s relationship anywhere between economic reports and you may economic parece of one’s 29 companies that have been listed in the new Dow jones Industrial Average (DJIA) ranging from 2 nd , an occasion for which you will find purchase regularity and you will rates data into DJIA parts

Any kind of time once, the newest DJIA include 29 enterprises. But not, Site visitors replaced Citigroup regarding the DJIA over the course of the data. Regarding data stated, we believe inventory research and you can news study for both of them people. Full specifics of the organization brands used in this new corpus studies are given regarding Secondary Pointers (Desk S1).

We read the the relationship between interest in a buddies from the news and demand for a buddies about inventory locations

Carries to own people placed in new DJIA is traded at Ny Stock market (NYSE), open ranging from 9:29 have always been and you can cuatro pm New york go out (for the majority of the year, 2:29 pm so you’re able to nine pm London date). We do that it data and all sorts of pursuing the analyses having trading months just, leaving out every vacations and bank vacations.

In Figure 2, we take Bank of America as an example for this analysis and plot the number of daily mentions of “Bank of America” against daily transaction volume for Bank of America. We find that a greater number of daily mentions of “Bank of America” corresponds to a greater daily transaction volume for Bank of America stocks (? = 0.43, p < 0.001, Spearman's rank correlation).

Day-after-day quantity of mentions regarding “Financial regarding The united states” regarding Financial Moments and you will every single day exchange regularity having Bank from The united states (BAC) holds.

We depict the correlation between the daily number of mentions of “Bank of America” and the daily transaction volume for Bank of America (BAC) stocks. We find that the daily number of mentions of “Bank of America” is positively correlated with the daily transaction volume for Bank of America (BAC) stocks (? = 0.43, p < 0.001, Spearman's rank correlation).

We extend this analysis to all 31 Dow Jones companies from this period. For each company, we calculate the Spearman’s rank correlation between the daily number of mentions of a company’s name in the Financial Times and the transaction volume of the corresponding company’s stocks (Figure 3). We analyze the distribution of Spearman’s rank correlation coefficients for all 31 companies. Whilst the strongest correlation is found for Bank of America, we find that overall, the correlation coefficients are significantly higher than zero (median correlation coefficient = 0.074; mean correlation coefficient = 0.100, W = 450, p < 0.001, Wilcoxon signed rank test). A greater number of mentions of a company in the news therefore corresponds to a greater transaction volume of a company's stocks. This suggests greater interest in a company in the news is related to greater interest in a company in the stock markets.

For each of the 31 companies that were listed in the Dow Jones Industrial Average between 2 nd , we plot the Spearman’s rank correlation between the daily number of mentions of a company’s name and the transaction volume https://datingranking.net/local-hookup/knoxville/ of the corresponding company’s stockspanies are indicated using their ticker symbol, for which a full list can be found in the Supplementary Information (Table S1). We analyze the distribution of correlation coefficients and find that, overall, the correlation coefficients are significantly higher than zero (median correlation coefficient = 0.074; mean correlation coefficient = 0.100; W = 450, p < 0.001, Wilcoxon signed rank test). In other words, the daily number of mentions of a company's name is positively correlated with the daily transaction volume of a company's stocks.

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