Twitter investment alerts for Ibex35 securities

Twitter investment alerts for Ibex35 securities



This paper sought to find the statistical relationship between Twitter messages and the evolution of the Spanish stocks mentioned in Tweets. We analyzed information from Twitter to evaluate stock sentiment using Stockbuzz - the first tool to gather information from the social network in Spanish. Stockbuzz has been developed by Spanish bank BBVA and shows the investors’ mood for the IBEX 35 Spanish index. We use the application on investment decision making and calculate the average return depending on positive or negative Investors’ Mood. We conclude that twitter is a valid tool to generate investment alerts.

Palabras clave


Los datos de descargas todavía no están disponibles.


Biografía del autor/a / Ver

Raúl Gómez Martínez, Universidad Rey juan Carlos

Prof. Dr. Raúl Gómez Martínez

Departamento de Economía de la Empresa (Área de conocimiento, Finanzas)
Facultad de Ciencias Jurídicas y Sociales


Ariel, R.A. 1990. High stock returns before holidays: existence and evidence on possible causes. Journal of Finance, 45, 1611-1626.

Cajochen, C., Altanay-Ekici, S., Münch, M., Frey, S., Knoblauch, V., Wirz-Justice, A. 2013. Evidence that the lunar cycle influences human sleep. Current Biology, 23 (15), 1485-1488.

Cao, M., Wei, J. 2005. Stock market returns: a note on temperature anomaly. Journal of Banking & Finance, 29, 1559-1573.

Chang, T., Nieh, C.C., Yang, M.J., Yang, T.Y. 2006. Are stock market returns related to the weather effects? Empirical evidence from Taiwan. Physica A, 364, 343-354.

Coates, J.M., Herbert, J. 2008. Endogenous steroids and financial risk taking on a London Trading floor. Proceedings of the National Academy of Sciences of the United States of America, 105 (16), 6167-6172.

Coghlan, A. 2013. Full moon could be to blame for a poor night's sleep. New Scientist, 219 (2928), 12. Doi:

Cohen-Charash, Y., Scherbaum, C.A., Kammeyer-Mueller, J.D., Staw, B.M. 2013. Mood and the Market: Can Press Reports of Investors' Mood Predict Stock Prices?. PLoS ONE, 8 (8) :e72031. doi: 10.1371/journal.pone.0072031.

Cunningham, M.R. 1979. Weather, mood and helping behaviour: quasi-experiment with the sunshine Samaritan. Journal of Personality and Social Psychology, 37, 1947-1956.

Darling, P.G. 1955. A Surrogative Measure of Business Confidence and its Relation to Stock Prices. The Journal of Finance, 10 (4), 442-458.

Dichev, I.D., Janes, T.D. 2003. Lunar cycle effects in stock returns. Journal of Private Equity, 6 (4), 8-29.

Dowling, M., Lucey, B.M. 2005. Weather, biorhythms, beliefs and stock returns - some preliminary Irish evidence. International Review of Financial Analysis, 14, 337-355.

Edmans, A., García, D., Norli, O. 2007. Sports sentiment and stock Returns. The Journal of Finance, 62 (4), 1967-1998.

Finucane, M.L., Alhakami, A., Slovic, P., Johnson, S.M. 2000. The affect heuristic in judgments of risks and benefits. Journal of Behavioural Decision Making, 13, 1-17.<1::AID-BDM333>3.0.CO;2-S

Forgas, J.P. 1998. On being happy and mistaken: mood effects on the fundamental attribution error. Journal of Personality and Social Psychology, 75, 318-331.

Gallagher, R., O'Sullivan, N. 2011. Asset Price Effects Arising from Sports Results and Investor Mood: The Case of a Homogenous Fan Base Area. Applied Economics Quarterly, 57 (4), 285-301.

Gerow, A. and Keane, M.T. 2011. Mining the Web for the Voice of the Herd to Spot Stock Market Bubbles. International Joint Conference of Artificial Inteligence.

Goldstein, K.M. 1972. Weather, mood, and internal-external control. Perceptual Motor Skills 35, 786.

Gómez, R. 2013. Señales de inversión basadas en un índice de aversión al riesgo. Investigaciones Europeas de Dirección y Economía de la Empresa, (0),

Gómez, R., Prado, C. 2014. Sentimiento del inversor, selecciones nacionales de fútbol y su influencia sobre sus índices nacionales. Revista Europea de Dirección y Economía de la Empresa, 23 (3), 99-114.

Hirshleifer, D., Shumway, T. 2003. Good day sunshine: stock returns and the weather. The Journal of Finance, 58 (3), 1009-1032.

Howarth, E., Hoffman, M.S., 1984. A multidimensional approach to the relationship between mood and weather. British Journal of Psychology, 75, 15-23.

Kamstra, M., Kramer, L.A., Levi, M.D. 2003. Winter Blues: Seasonal Affective Disorder (SAD) and Stock Market Returns. American Economic Review, 93 (1), 324-343.

Keef, S.P., Roush, M.L. 2007. Daily weather effects on the returns of Australian stock indices. Applied Financial Economics, 17, 173-184.

Kolb, R.W., Rodriguez, R.J. 1987. Friday the thirteenth: Part VII - A note. Journal of Finance, 42 (5), 1385-1387.

Krivelyova, A., Robotti, C. 2003. Playing the field: geomagnetic storms and international stock markets. Working paper 2003-5, Federal Reserve Bank of Atlanta.

Lemmon, M., Portniguina, E. 2006. Consumer Confidence and Asset Prices: Some Empirical Evidence. The Review of Financial Studies, 19(4), 1499-1529.

Lucey, B.M., Dowling, M. 2005. The role of feelings in investor decision-making. Journal of economic surveys, 19, 211-237.

Markowitz, H. 1952. Portfolio selection. The Journal of Finance, 7, 77-91.

Moat, H., Curme, C., Avakian, A., Kenett, D.Y., Stanley, H.E., Resi, T. 2013. Quantifying Wikipedia Usage Patterns Before Stock Market Moves. Scientific Reports.

Nofsinger, J.R. 2005. Social mood and financial economics. The Journal of Behavioral Finance, 6, 144-160.

Sanders, J.L., Brizzolara, M.S. 1982. Relationships between mood and weather. Journal of General Psychology 107, 157-158.

Saunders Jr., E.M. 1993. Stock prices and Wall Street weather. The American Economic Review, 83, 1337-1345.

Shu, H.C. 2010. Investor mood and financial Markets. Journal of Economic Behavior & Organization, 76, 267-282.

Shu, H.C., Hung, M.W. 2009. Effect of wind on stock market returns: Evidence from European markets. Applied Financial Economics, 19, 893-904.

Stockbuzz. 2015.

Torgler, B. 2007. Determinants of superstition. Journal of Socio-Economics, 36 (5), 713-733.

Yuan, K., Zheng, L., Zhu, Q. 2006. Are investors moonstruck? Lunar phases and stock returns. Journal of Empirical Finance, 13 (1), 1-23.

Citado por