State Street Expands MediaStats Indicator Offering with New Bitcoin Thematic Indicator
May 05 2021 - 9:45AM
Business Wire
New Indicator Series Will Help Investors Contextualize Bitcoin’s
Media Sentiment and True Impact on Financial Markets
State Street Corporation (NYSE:STT) today announced the launch
of a new Bitcoin Thematic Indicator series to help contextualize
the rising popularity of Bitcoin and how it is impacting more
traditional financial markets. The series quantifies media coverage
of Bitcoin, measuring the intensity or prevalence relative to all
news of the day, as well as the sentiment of news over a period of
time.
This new indicator series expands the State Street MediaStats
Thematic Indicators offering, which was launched in November 2020
in partnership with MKT MediaStats, a big-data information
technology company specializing in financial markets. The
indicators analyze hundreds of thousands of digital news sources to
generate daily sentiment signals for various assets to help
institutional investors form a more complete picture of what
factors are driving their portfolios and overall markets. The new
Bitcoin Indicator will capture vast information around the asset as
well as its linkages to traditional currencies and emerging trends,
which investors can leverage for portfolio planning and to gain
indirect exposure through equity baskets.
“Over the last few months, media coverage around Bitcoin has
grown significantly relative to corporate, financial and economic
media markets and continues to trend higher,” said Rajeev Bhargava,
head of the Investor Behavior Research Team at State Street
Associates. “Understandably, institutional investors are
increasingly eager to learn how this rising attention is impacting
traditional asset markets. Our newest Bitcoin series provides a
quantitative and timely measure of the tone and intensity of media
discussion and reveals additional transparency into this highly
sentiment driven market, enabling our clients to make more informed
investment decisions.”
“Our indicators are built on a decade’s worth of natural
language processing research combined with a strong academic
underpinning,” said Dr. Gideon Ozik, managing partner and founder
of MKT MediaStats. “Now, harnessing the power of vast data to
provide real-time perspectives, we’re able to offer investors a
tool they can leverage to make tactical and strategic judgments on
key narratives that drive financial markets.”
State Street MediaStats’ full range of indicators now
includes:
- Thematic Indicators that track 77 overall broad market
narratives, including Bitcoin.
- Central Bank Indicators that gauge the degree of hawkishness in
the monetary tones of 12 global central banks.
- FX and Country Equity Media Indicators that use natural
language processing and machine learning to analyze large sets of
unstructured media data, comprising international and domestic
media, social media, business news and trading media. These
indicators measure intensity, sentiment and disagreement in media
coverage to assist portfolio managers in assessing the outlook for
33 foreign currencies and 44 global equity markets.
- Macro Linkages Indicators that track inter-asset connectedness
among country equity markets and currencies.
- Company Media Indicators that provide insights into company
dynamics using proprietary algorithms to measure the abnormal
intensity, conditional sentiment and disagreement in media coverage
of approximately 3,000 US-listed individual companies.
- Media Indicators that generate measures of the abnormal
intensity, conditional sentiment and disagreement in media coverage
of US sectors, industry groups and industries.
- Linkages Indicators that gauge the strength and impact of
inter-company relationships based on company co-mentions in media
for approximately 500 US-listed large-cap companies.
- Aggregate Linkages Indicators that track the dynamic
relationships between sectors, industry groups and industries based
on constituent company co-mentions in media coverage.
- Earnings Prediction Technology, or EPTech, which analyzes large
sets of consumer data to gauge patterns of digital consumption for
approximately 350 large US-listed firms. These patterns, reflective
of consumer behavior in the real economy, can provide investors
with an additional, distilled input as they formulate quarterly
earnings estimates.
The State Street MediaStats indicators build on the capabilities
of State Street’s hub for data science and academic partnerships,
State Street Associates (SSA). SSA is an academic think tank which
bridges the worlds of financial theory and practice, develops
proprietary investment indicators, differentiated analytics
applications and tailored investment strategies for institutional
investors around the world. Click here to learn more about State
Street Associates and the indicators.
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world's
leading providers of financial services to institutional investors
including investment servicing, investment management and
investment research and trading. With $40.3 trillion in assets
under custody and/or administration and $3.6 trillion* in assets
under management as of March 31, 2021, State Street operates
globally in more than 100 geographic markets and employs
approximately 39,000 worldwide. For more information, visit State
Street's website at www.statestreet.com.
*Assets under management as of March 31, 2021 includes
approximately $60 billion of assets with respect to SPDR® products
for which State Street Global Advisors Funds Distributors, LLC
(SSGA FD) acts solely as the marketing agent. SSGA FD and State
Street Global Advisors are affiliated.
About MKT MediaStats, LLC
State Street partner MKT MediaStats, LLC is a technology and
data analytics company, which combines expertise in data science
and financial economics to extract financial markets insights from
unique sets of untapped big data sources. MKT MediaStats LLC was
founded by Gideon Ozik, affiliate professor at École des Hautes
Etudes Commerciales du Nord (EDHEC) Business School and former
hedge fund manager at Société Générale; Professor Ronnie Sadka,
chair of the Finance Department at Boston College’s Carroll School
of Management; Hadar Shezifi, technology entrepreneur and former
architect at Neustar; and Professor Ken Froot, of Harvard Business
School, who is also a founding partner of State Street
Associates.
© 2021 State Street Corporation - All Rights Reserved
Expiration 5/5/2022
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Media Contact: Brendan Paul bpaul2@statestreet.com
+1-401-644-9182
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