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Extraction of Temporal Networks from Term Co-Occurrences in Online Textual Sources

Author

Listed:
  • Marko Popović
  • Hrvoje Štefančić
  • Borut Sluban
  • Petra Kralj Novak
  • Miha Grčar
  • Igor Mozetič
  • Michelangelo Puliga
  • Vinko Zlatić

Abstract

A stream of unstructured news can be a valuable source of hidden relations between different entities, such as financial institutions, countries, or persons. We present an approach to continuously collect online news, recognize relevant entities in them, and extract time-varying networks. The nodes of the network are the entities, and the links are their co-occurrences. We present a method to estimate the significance of co-occurrences, and a benchmark model against which their robustness is evaluated. The approach is applied to a large set of financial news, collected over a period of two years. The entities we consider are 50 countries which issue sovereign bonds, and which are insured by Credit Default Swaps (CDS) in turn. We compare the country co-occurrence networks to the CDS networks constructed from the correlations between the CDS. The results show relatively small, but significant overlap between the networks extracted from the news and those from the CDS correlations.

Suggested Citation

  • Marko Popović & Hrvoje Štefančić & Borut Sluban & Petra Kralj Novak & Miha Grčar & Igor Mozetič & Michelangelo Puliga & Vinko Zlatić, 2014. "Extraction of Temporal Networks from Term Co-Occurrences in Online Textual Sources," PLOS ONE, Public Library of Science, vol. 9(12), pages 1-29, December.
    • Handle: RePEc:plo:pone00:0099515
    DOI: 10.1371/journal.pone.0099515
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    References listed on IDEAS

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    1. Jun Pan & Kenneth J. Singleton, 2008. "Default and Recovery Implicit in the Term Structure of Sovereign CDS Spreads," Journal of Finance, American Finance Association, vol. 63(5), pages 2345-2384, October.
    2. Rahul Kaushik & Stefano Battiston, 2013. "Credit Default Swaps Drawup Networks: Too Interconnected to Be Stable?," PLOS ONE, Public Library of Science, vol. 8(7), pages 1-8, July.
    3. Caldarelli, Guido, 2007. "Scale-Free Networks: Complex Webs in Nature and Technology," OUP Catalogue, Oxford University Press, number 9780199211517.
    4. Hsin-Ning Su & Pei-Chun Lee, 2010. "Mapping knowledge structure by keyword co-occurrence: a first look at journal papers in Technology Foresight," Scientometrics, Springer;Akadémiai Kiadó, vol. 85(1), pages 65-79, October.
    5. Gergely Tibély & Péter Pollner & Tamás Vicsek & Gergely Palla, 2013. "Extracting Tag Hierarchies," PLOS ONE, Public Library of Science, vol. 8(12), pages 1-12, December.
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