Alternative data for stock analysis


Hello everyone,

I am currently researching alternative data sources (alternative to market data / technical indicators) that can be used to forecast stock price changes.

So far, my list includes:

  1. Fundamentals, such as financial reports, ratios, and industry reports.

  2. Macroeconomic data, including inflation rate, unemployment, and GDP.

  3. Social/sentiment indicators based on posts/tags from social platforms (Twitter, Reddit, Facebook, etc.). This data can be more difficult to collect, but the idea is to scrape data from social media and calculate a sentiment indicator that can be used for trading decisions.

  4. Consumer behavior data, such as information indicating consumer interest in the company's product or service. This data can be sourced from google trends statistics or website traffic.

  5. Commodity prices and key supplier/consumer prices/information. For example, an airline company's stock could be affected by oil prices and the performance of companies such as Boeing and Airbus.

  6. Weather forecast, as it can be an indicator of potential sales for companies such as energy providers.

Would be great to hear your thoughts on this topic and any additional data sources you may know of.

Additionally, if you know of any reliable providers of this type of data, please share.

Thank you!


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