ChatGPT's Twitter Sentiment Analysis Correlates with Microsoft and Google Stock Movements
A study available on arXiv examines ChatGPT's capacity to forecast stock market movements by assessing Twitter sentiment. Classified under Quantitative Finance and Statistical Finance, the research centers on Microsoft and Google, categorizing tweets as positive, negative, or neutral in relation to stock prices. Findings indicate a positive relationship between ChatGPT's sentiment analysis and the subsequent trading day’s stock performance for these companies. The paper underscores the versatility of ChatGPT and the significance of AI in market forecasting. Identified as 2311.06273, it provides references via Semantic Scholar and mentions arXivLabs for experimental initiatives. While it points out the potential of advanced AI models for investors, it stresses correlation rather than causation. No conflicts of interest or funding sources are disclosed.
Key facts
- Paper titled 'Potential of ChatGPT in predicting stock market trends based on Twitter Sentiment Analysis' is posted on arXiv.
- The paper appears under the categories Quantitative Finance and Statistical Finance.
- The study investigates ChatGPT's capacity to predict stock market movements using only social media tweets and sentiment analysis.
- The research focuses on how tweets affect the stock values of Microsoft and Google.
- ChatGPT is used to classify tweets as having a positive, negative, or neutral effect.
- Findings reveal a positive link between ChatGPT's evaluations and the following day's stock results for both companies.
- The research emphasizes the growing importance of AI in financial market forecasts.
- The paper is available on arXiv with identifier 2311.06273 and includes references via Semantic Scholar.
Entities
Institutions
- Microsoft
- arXiv
- arXivLabs
- Semantic Scholar