that generates a score range between 0 and 100 where higher values indicate more positive
sentiment while values below 50 show negative sentiment.
ENS—EVENT NOVELTY SCORE:A score between 0 and 100 that represents how
‘‘new’’ or novel a news story is within a 24-hour time window. The first story reporting a
categorized event about one or more companies is considered to be the most novel and
receives a score of 100. Subsequent stories within the 24-hour time window about the
same event for the same companies receive lower scores.
ENS_KEY—EVENT NOVELTY KEY:An alphanumeric identifier that provides a way
to chain or relate stories about the same categorized event for the same companies. The
ENS_KEY corresponds to the RP_STORY_ID of the first news story in the sequence of
similar events. The identifier allows a user to track similar stories reporting on the same
event about the same companies.
CSS—COMPOSITE SENTIMENT SCORE:A sentiment score between 0 and 100
that represents the news sentiment of a given story by combining various sentiment
analysis techniques. The direction of the score is determined by looking at emotionally
charged words and phrases and by matching stories typically rated by experts as having
short-term positive or negative share price impact. The strength of the score (values
above or below 50, where 50 represents neutral strength) is determined from intraday
stock price reactions modeled empirically using tick data from approximately 100 large-
cap stocks.
NIP—NEWS IMPACT PROJECTIONS:A score taking values between 0 and 100 that
represents the degree of impact a news flash has on the market over the following 2-hour
period. The training set for this classifier used tick data for a test set of large-cap
companies and looked at the relative volatility of each stock price measured in the 2
hours following a news flash. This NIP score is based on RavenPack’s Market Response
Methodology.
PEQ—GLOBAL EQUITIES:A score that represents the news sentiment of the given
news item according to the PEQ classifier, which specializes in identifying positive and
negative words and phrases in articles about global equities. Scores can take values of 0,
50 or 100 indicating negative, neutral or positive sentiment, respectively. This sentiment
score is based on RavenPack’s Traditional Methodology.
BEE—EARNINGS EVALUATIONS:A score that represents the news sentiment of
the given story according to the BEE classifier, which specializes in news stories about
earnings evaluations. Scores can take values of 0, 50 or 100 indicating negative, neutral or
positive sentiment, respectively. This sentiment score is based on RavenPack’s Expert
Consensus Methodology.
BMQ—EDITORIALS & COMMENTARY:A score that represents the news sentiment
of the given story according to the BMQ classifier, which specializes in short commentary
and editorials on global equity markets. Scores can take values of 0, 50 or 100 indicating
negative, neutral or positive sentiment, respectively. This sentiment score is based on
RavenPack’s Expert Consensus Methodology.
32 The Handbook of News Analytics in Finance