Skip to main content
Figure 1 | EPJ Data Science

Figure 1

From: Novel and topical business news and their impact on stock market activity

Figure 1

Market activity in GM stocks before and after an ALERT and a HEADLINE for GM are displayed. When \(\Delta t=0\), news articles with the keyword ‘GM.N’ are displayed on the RTRS electronic trading platform. (a), (b), and (c) show the normalized number of transactions, \(\langle N(\Delta t) \rangle\), the normalized volume, \(\langle V(\Delta t) \rangle\), and the normalized volatility, \(\langle \mathit{Vol}(\Delta t) \rangle\). (d) is a semi-logarithmic figure, where the solid and dashed lines respectively represent the market response to an ALERT and a HEADLINE news item. The black line in (d) is a reference line (\(=0.45 \exp(-0.073 \Delta t)+1\)). The error bars shown in (a), (b), and (c) are for ALERTs and are calculated using randomized data (i.e., the timing of the arrival of news is randomized). The error bars for HEADLINEs are not shown in (a), (b), and (c) to make the figures easier to read. For (d), only the upper bound of the error bar is shown.

Back to article page