Summary of the paper
| Title | On the Importance of Text Analysis for Stock Price Prediction |
|---|---|
| Authors | Heeyoung Lee, Mihai Surdeanu, Bill Maccartney and Dan Jurafsky |
| Abstract | We 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. |
| Topics | Opinion Mining / Sentiment Analysis |
Full paper  |
On the Importance of Text Analysis for Stock Price Prediction |
| Bibtex | @InProceedings{LEE14.1065, author = {Heeyoung Lee and Mihai Surdeanu and Bill Maccartney and Dan Jurafsky}, title = {On the Importance of Text Analysis for Stock Price Prediction}, booktitle = {Proceedings of the Ninth International Conference on Language Resources and Evaluation (LREC'14)}, year = {2014}, month = {may}, date = {26-31}, address = {Reykjavik, Iceland}, editor = {Nicoletta Calzolari (Conference Chair) and Khalid Choukri and Thierry Declerck and Hrafn Loftsson and Bente Maegaard and Joseph Mariani and Asuncion Moreno and Jan Odijk and Stelios Piperidis}, publisher = {European Language Resources Association (ELRA)}, isbn = {978-2-9517408-8-4}, language = {english} } |