The Construction And Application Of Investor Emotion Index In The Background Of Big Data

Investor sentiment has always been an important factor in the academic community's in-depth study of the development of the stock market.Before the advent of the era of big data,researchers mainly choose turnover rate and volume to build investor sentiment index.Although such variables can also reflect the emotional characteristics of investors in the stock market,they are not comprehensive and can only reflect the investor's sentiment from an objective perspective.The arrival of the era of big data has increased the accessibility of data from online channels.Researchers can obtain the subjective emotional information of investors from the Internet,which provides a more comprehensive data foundation for the construction of investor sentiment index.Therefore,the construction of a effective investor sentiment index based on the background of big data is of great significance for optimizing the investment decision of the stock market and regulating the behavior of market investors.Firstly,Based on the characteristics of investors and stock markets,this paper makes use of the theoretical foundations of Econometrics,Statistics,and Finance to constructs an investor sentiment indicator system that includes three dimensions: investor acceptance,investor attention and investor sentiment.Secondly,According to the characteristics of the attributes of different dimension indicators,we select and collect data that can explain investor acceptance,attention and sentiment orientation by using web crawling,data mining,text mining and other methods in mathematical statistics,then quantify the investor's sentiment indicator data to provide a data basis for subsequent indicator construction.Then,Based on the characteristics of the index system constructed in this paper,we choose to construct the weights of each dimension index,and then using the weighted method to construct the investor sentiment index.In the EMD,we successfully compiled the investor sentiment index and verified its effectiveness.Subsequently,we studied the application of investor sentiment index by studying the influence of investor sentiment index on stock market price.We use EMD method to measure the stock market price fluctuations,which can reflect the impact of different influencing factors on stock market prices.After that,we use the correlation analysis method to estimate the correlation between investor sentiment and price fluctuations of various types of stocks.According to their correlation characteristics,we can get the effect of investor sentiment on stock market prices.The results of this paper are mainly reflected in the following two aspects:(1)When we construct the investor sentiment index,we not only build on a reasonable and effective investor sentiment indicator system,but also select the appropriate model,and also make full use of the conditions of the big data background,and select more effective data.Therefore,we provides an effective method for the preparation of investor sentiment index.(2)In the process of applying the investor sentiment index,it is found that the investor sentiment affects the overall trend of the stock market.It shows the important position of investors' emotional attitudes in the stock market,which further illustrates the importance of compiling investor sentiment index.