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How Can Sentiment Analysis Contribute to Financial Markets and Services?

In: Artificial Intelligence and Beyond for Finance

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  • Abraham Itzhak Weinberg

Abstract

In recent years, the use of Sentiment Analysis (SA) has proliferated across a wide variety of fields, including financial markets and services. SA can help predict market trends, detect changes in consumer behavior, and identify potential investment opportunities. In this chapter, we explore the impact and applications of SA in financial markets and services and review both traditional and state-of-the-art algorithms for sentiment analysis. We demonstrate how SA approaches can help make better decisions and predictions in financial markets, stock exchange, trading, and cryptocurrencies. We provide examples of popular algorithms used in financial SA and discuss their pros and cons. In addition, we mention the main metrics for evaluating SA performance. By the end of this chapter, readers will have a deeper understanding of how sentiment analysis can contribute to financial markets and services, and the tools and techniques used to achieve accurate and reliable results.

Suggested Citation

  • Abraham Itzhak Weinberg, 2024. "How Can Sentiment Analysis Contribute to Financial Markets and Services?," World Scientific Book Chapters, in: Marco Corazza & RenĂ© Garcia & Faisal Shah Khan & Davide La Torre & Hatem Masri (ed.), Artificial Intelligence and Beyond for Finance, chapter 5, pages 207-234, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9781800615212_0005
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    More about this item

    Keywords

    Artificial Intelligence; Machine Learning; Deep Learning; Reinforcement Learning; Sentiment Analysis; Portfolio Management; Financial Forecasting;
    All these keywords.

    JEL classification:

    • C8 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G17 - Financial Economics - - General Financial Markets - - - Financial Forecasting and Simulation
    • C63 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Computational Techniques

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