Data Firms Quietly Profit in Wake of Twitter IPO

It’s not just Twitter shareholders who have been smiling since the social media outfit’s November 7 listing on the New York Stock Exchange. As the stock has surged past $50 from its opening price of $45.10, several less prominent businesses that sell and analyze the data from the so-called fire hose of tweets have been reaping the benefits of their association with the San Francisco–based company.

Apple收购了Topsy Labs，许可的四家公司之一，并在12月初报告的历史和实时推文的全部消防软管的历史和实时推文。另一位许可的经销商不久之后，另一名许可的经销商宣布，它筹集了4200万美元的资金，使其总额为7200万美元。

纽约证券社会本身就掌握了这一法案，与芝加哥的数据克丘乔社会市场分析合作，在特定股票周围的情绪变化时向其客户推出警报。该公司表示，SMA的算法从社交媒体噪音中提取了社交媒体噪声的分数，使订阅者提前预警价格在价格上涨。“It’s not what’s being said but who’s saying it that counts the most in terms of stock performance,” explains president and CEO Joe Gits, adding that of the 230 million monthly active Twitter accounts, the algorithm focuses exclusively on the 400,000 most influential market makers.

The family of “indicative” tweets — those that can be used to assess stock sentiment — is growing by 10 percent every month, according to Gits. Even as the social media platform grows, the conversation on Twitter is becoming more, rather than less, useful for the markets.

SMA的主要成绩从-5到5的尺寸逐渐评分，广泛地反映了与正常分布中平均值的标准偏差，同时根据指示性推文的噪声的演变，评分每分钟重估。该公司的主要索赔：该得分的变化通常会导致价格变化。例如，苹果的情感分数从1.5（弱阳性）增加到2.5（高度积极）超过3小时，在4月13日在iPhone制造商在iPhone制造商中揭示了他的“大型职位”;单独交易促使SMA用户抢占其遵循ICAHN干预的价格尖峰。

纽约证券交易所技术，纽约证券交易所技术副总裁汤姆沃特森副总裁汤姆沃特森争夺纽约证券交易所欧洲群岛的数据和技术司。Watson points to the superior returns generated by SMA’s backtests, which show that by simply trading on all S-scores greater than 2 for companies in the Standard & Poor’s 500 index between December 2011 and August 2013, users would have generated a cumulative return of 39.05 percent with a Sharpe ratio of 1.72; over the same period the index itself returned 13.75 percent with a Sharpe ratio of 3.77. Although Watson concedes that this alpha will eventually be arbitraged away as SMA sentiment scores become more widely used, he thinks they will remain useful indicators. “Twenty years ago no one was plugging earnings estimates into their equities models, but now everyone does,” he says.

其他公司已经采取了较少的情绪，以挖掘推出的挖掘推动力，用于市场移动信息。虽然SMA使用一片审查的“影响者”来生成一系列一般情感分数，纽约的DataMinr将整个消防软管遍历近5亿日每天推文，并在单个推文中以潜力为零。移动市场。

对于DataMinr，Tweeter的默默无闻对特定推文没有与市场相关的特定推文屏障，只要可以验证信息的可信度，这是一种流程算法控制。该公司今年早些时候筹集了额外的3000万美元，使其总额为4650万美元，并不为其用户提供SMA所做的评分;它只是提供了Raw Tweet。

In early November, for example, three minutes before the news hit financial wires and two minutes ahead of the subsequent sell-off, Dataminr alerted clients to a tweet stating that troubled Canadian telecommunications company BlackBerry would replace its CEO. BlackBerry’s stock price eventually declined 20 percent in response to the announcement.

纽约证券交易所道路测试数据队和SMA在与后者的伙伴关系中，交易所的Watson笔记。“SMA简单地与我们的模型紧密地对齐，在那里我们向客户提供饲料中的信息，”他说，并补充说这两种产品都很有用。“您可以使用社交媒体的许多不同方式。”

But Twitter sits at the center of the movement to incorporate the unstructured noise of social media into trading strategies. “Two years ago there was a much higher dispersion in the sources of online data” looked at to generate meaningful trading signals, says SMA’s Gits. “Now people just want Twitter.”

On the morning of Twitter’s IPO, CEO Dick Costolo, who’s faced repeated questions on the company’s revenue model, told CNBC that he has a “whole set of strategies” around “bridging the gap between the massive awareness of Twitter and deep engagement on the platform.” Companies like SMA, Dataminr, Topsy Labs and DataSift have shown that, for now, there’s value to be had from living in the shadow of the fire hose.