On the Importance of Text Analysis for Stock Price Prediction
17073Authors
nan
Abstract
AbstractWe investigate the importance of text analysis for stock price prediction. In particular, we introduce a system that forecasts companies stock price changes (UP, DOWN, STAY) in response to financial events reported in 8-K documents. Our results indicate that using text boosts prediction accuracy over 10% (relative) over a strong baseline that incorporates many financially-rooted features. This impact is most important in the short term (i.e., the next day after the financial event) but persists for up to five days.
Keywords
Full Content
nan
Labeled Text
AbstractWe investigate the importance of text analysis for stock price prediction. In particular, we introduce a system that forecasts companies stock price changes (UP, DOWN, STAY) in response to financial events reported in 8-K documents. Our results indicate that using text boosts prediction accuracy over 10% (relative) over a strong baseline that incorporates many financially-rooted features. This impact is most important in the short term (i.e., the next day after the financial event) but persists for up to five days.
Publication Details
- Paper ID:
- 17073
- Year:
- 2014
- Publication:
- TIPSTER
- Publication Type:
- conf
- DOI:
- nan