27 April 2017
visit nextgenbanking.co.uk

Hedge fund taps Twitter to beat market

17 December 2010  |  9378 views  |  1 twitter logo

London-based Derwent Capital Markets is set to launch a £25 million hedge fund that will use Twitter to predict the market, according to press reports.

The family-owned firm will launch the Cayman Island-based fund in February, using Twitter emotional and behavioural trends to predict market moves, says TheNextWeb.

The planned fund comes after research published in October found that analysing the content of daily Twitter feeds using two mood tracking tools enabled the team to predict with an 87.6% accuracy the daily ups and downs in the closing value of the Dow Jones Industrial Average.

Derwent Capital Markets has now brought on board one of the paper's authors, Dr Xiao-Jun Zeng from the University of Manchester, to help apply the theory to the real world.

Investment fund set to use Twitter to judge emotion in the market - TheNextWeb

Comments: (1)

A Finextra member
A Finextra member | 17 December, 2010, 13:09

Here's a link to the research: http://ow.ly/3qKq5.

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Comcast's Twitter guru Frank Eliason joins Citi

Comcast's Twitter guru Frank Eliason joins Citi

21 July 2010  |  13525 views  |  0 comments
Twitter settles FTC security charges

Twitter settles FTC security charges

25 June 2010  |  7916 views  |  1 comments
IBM unveils social media sentiment software

IBM unveils social media sentiment software

12 May 2010  |  7356 views  |  0 comments
Nasdaq serves up Twitter stock buzz on iPhone

Nasdaq serves up Twitter stock buzz on iPhone

26 October 2009  |  6884 views  |  0 comments
Traders to tap Twitter?

Traders to tap Twitter?

24 June 2009  |  8448 views  |  1 comments

Related blogs

Create a blog about this story (membership required)
visit vasco.com/news/PSD2-compliant-solutionsVisit capgemini.comvisit dh.com

Top topics

Most viewed Most shared
hands typing furiouslyBitcoin ETF Bites the Dust, Needs More Sec...
14333 views 0 | 7 tweets | 7 linkedin
BBVA runs live funds transfers over RippleBBVA runs live funds transfers over Ripple
11883 views comments | 31 tweets | 20 linkedin
Alipay and WeChat near $3 trillion payments milestoneAlipay and WeChat near $3 trillion payment...
10039 views comments | 35 tweets | 38 linkedin
Coinbase plans Ethereum messaging appCoinbase plans Ethereum messaging app
9105 views comments | 14 tweets | 15 linkedin
EC plans blockchain 'observatory'EC plans blockchain 'observatory'
8464 views comments | 9 tweets | 16 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job