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Using Natural Language Processing Techniques to Analyze the Impact of Covid-19 on Stock Market

He, Wei (2021) Using Natural Language Processing Techniques to Analyze the Impact of Covid-19 on Stock Market. Masters thesis, Dublin, National College of Ireland.

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Abstract

The wide spreading of Covid-19 disease has resulted a high amount of text content being generated on the social network. The probability to explore the impact of social network on the stock price has observed a strong improvement from the utilisation of Natural Language Processing (NLP) in finance and economics domain. This study collected social network comments to calculate whether positive or negative social network text under the category of coronavirus (COVID-19) can affect stock market movement. I take consideration of the period from January to June 2020, analyse 1,630,290 Twitter comments and 10,652 Reddit comments that related to the pandemic during this period. Our optimised topic modelling has delivered more accurate interpretation of the social media context by leveraging the NLP techniques. The text pre-processing process has improved the sentiment analysis result. The result indicates that social network sentiment can impact stock market movement, COVID-19 is the major reason for the movement of the U.S. stock market for the period I studied. This research has found the significant connection between the sentiment and the stock market fluctuation. This research can benefit for a professional fund manager to predict the stock market movement and take actions against an outbreak of COVID-19, as well as offering a different perspective on the effect of an epidemic on the economy and risk avoidance strategies.

Item Type: Thesis (Masters)
Subjects: Q Science > QA Mathematics > Electronic computers. Computer science
T Technology > T Technology (General) > Information Technology > Electronic computers. Computer science

Q Science > QA Mathematics > Computer software
T Technology > T Technology (General) > Information Technology > Computer software

R Medicine > RA Public aspects of medicine > RA0421 Public health. Hygiene. Preventive Medicine
H Social Sciences > HG Finance > Investment > Stock Exchange
Divisions: School of Computing > Master of Science in Data Analytics
Depositing User: Clara Chan
Date Deposited: 03 Dec 2021 10:28
Last Modified: 03 Dec 2021 10:40
URI: https://norma.ncirl.ie/id/eprint/5166

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