Eagle Alpha Launches New Proprietary Dataset
Alternative data marketplace Eagle Alpha has launched a proprietary dataset it calls 'Ticker Signals'. It tracks investor attention towards stocks of the top 1,000 US companies by market capitalization by analysing trends of over 3,500 online search terms on a weekly basis.
"Online search behaviour data has seen a surge in interest from our clients recently, but before we developed Ticker Signals, there was no dataset capturing search behaviour for a wide coverage of tickers in a systematic way. Whether it's trading volumes, volatility, or direct share price movement, investor attention derived from this search behaviour can provide myriad alpha opportunities when collected with reliable, production-grade processes," said Thomas Combes, Head of Data Science at Eagle Alpha.
Ticker signals gives users access to 10 years of historical data, mapped to an identifier of their choice. Emmett Kilduff, CEO at Eagle Alpha, said of the launch: "To date there is little online search data that has the scale required by many of our clients. This proprietary dataset innovation from our in-house data science team is a direct response to client feedback and is addressing their growing alternative data needs."
Eagle Alpha says that Ticker Signals can be used as a predictor of trading volume, forthcoming market volatility, as well as a direct indication of future share price movement.