RavenPack Launches Coronavirus News Monitor to Help Data-Driven Professionals Face the New Market Conditions
NEW YORK, March 30, 2020 — In response to the coronavirus pandemic, RavenPack, a provider of big data analytics, has launched a live and interactive website to help navigate the oceans of information currently available on the novel coronavirus and its impact on world affairs.
RavenPack decided to release this public dashboard to answer the extraordinary amount of requests from clients looking for data-driven insights to support their decision making during the current uncertain market conditions.
“We wanted to create a more analytical way to track information about the novel coronavirus and to monitor the reactions people are having across the globe, which include things like massive social distancing and panic buying,” said Armando Gonzalez, the Co-Founder, and CEO of RavenPack.
The RavenPack Coronavirus News Monitor is different from other coronavirus dashboards in that it summarizes emotions or sentiments from tens of millions of news articles and public posts into simple indicators, similar to stock tickers.
The guiding principles behind the design of the monitor are based on research performed by the RavenPack Data Science team. They determined that the sentiment and proportion of global news about topics like “recession fears” often signal the actual impact of real-world events in financial markets, something which RavenPack’s big data platform is uniquely placed to assess.
The monitor contains bespoke indexes uniquely formulated by RavenPack data experts to provide users with added insight and forewarning about changes in the news surrounding the virus – changes that often reflect or foreshadow real-world events.
These include the Contagion Index, which measures the spread of the virus across the media world, the Media Coverage Index, which reflects the proportion of all news that is coronavirus-related, and the Panic Index which provides a gauge of extreme public mood.
The monitor also features an interactive global map, and tables gauging the sentiment on countries and financial assets, and it can be adapted for those who want a tailored experience.
The creation of bespoke filters by topic, industry, as well for specific portfolios is also available, and users can access the underlying data and/or customize the dashboard to their specific use cases.
The free Coronavirus News Monitor can be accessed on https://coronavirus.ravenpack.com/.
RavenPack is the leading big data analytics provider for financial services. The company’s products allow clients to enhance returns, reduce risk and increase efficiency by systematically incorporating the effects of public information in their models or workflows. RavenPack’s clients include the most successful hedge funds, banks, and asset managers in the world. For more information, please visit www.ravenpack.com.