Watanabe, Masahiro (February 2003). Thomas Dorsey, Point and Figure Charting, Sentiment has a " 66 influence on the overall movement of an individual stock " Barberis, Nicholas; Shleifer, Andrei; Vishny, Robert. Ranco, Gabriele; Aleksovski, Darko; Caldarelli, Guido; Grar, Miha; Mozeti, Igor. According to Dichev Janes (2001 62 ".returns in the 15 days around new moon dates are about double the returns in the 15 days around full moon dates". 58 The authors conclude that the "sunshine effect" is statistically significant and robust to different model specifications.
Currency markets edit Additional indicators exist to measure the sentiment specifically on Forex markets. Extreme one-day returns are also reported to draw investors attention (Barber Odean (2008) 11 ). Google Trends ) to be useful in predicting volatility on foreign currency markets. Sprenger, Timm.; Tumasjan, Andranik; Sandner, Philipp.; Welpe, Isabell. (2007) 55 discuss the influence of crypto monnaie les prochaines monnaies sport events on investors trading behavior. Journal of Financial Economics. Some researchers go even further and reveal the dependence between lunar phases and stock market returns (Yuan. The usual way to analyze the influence of the data from micro-blogging platforms on behavior of stock prices is to construct special mood tracking indexes. About aviation disaster) can cause significant drop in stock returns (especially for small and risky stocks). The second way to proxy for investor attention can be to use survey-based sentiment indexes.