PsychSignal to Provide Stock- and Coin-Level Sentiment Data to Institutions and Consumers

PsychSignal, a provider of proprietary social sentiment data on thousands of companies, today launched for enterprise licensing and individual subscriptions. Decryptz, a social sentiment platform for cryptocurrencies, also launched today.

PsychSignal quantifies the real-world psychology of the investment crowd by listening to social media conversations and leveraging a proprietary algorithm that turns the data into meaningful insights for trading. PsychSignal comes from the brain of James Crane-Baker, an electronic trading pioneer with more than 20 years experience who started the company to track social information. The information has been licensed to select hedge funds and institutional asset managers for the past five years.

PsychSignal is a recent enterprise API customer of Twitter’s, allowing them to now leverage commercial-level access to Twitter data. PsychSignal’s offering further stands apart because the product also utilizes Twitter’s complete archive of historical data, allowing them to compare spikes in volatility or changes in sentiment based on more than 12 years’ worth of historical events.

“We believe Twitter data plays an important role in the evolving alternative data landscape in Finance”, said Sushil Trivedi, Senior Alliance Manager at Twitter. “Our enterprise APIs provide Twitter data access to solution providers that can convert the public conversation on Twitter into meaningful, investable analysis.”

Data from PsychSignal can be used by individual traders to plot trading strategies by sector or company. Institutional users already use sentiment as part of their market data research.

PsychSignal also has a partnership with StockTwits, a pioneer in the use of tracking and sorting online conversation. “Social sentiment, what I like to call the pulse of the markets and the ‘human ticker,’ are a third dimension in the market,” said Howard Lindzon, co-Founder of StockTwits. “Price and volume will always matter, but in a mobile and social world, the sentiment from sites like StockTwits and products like PsychSignal are crucial.”

Decryptz employs the same techniques to analyze cryptocurrency data. It developed as an extension of the increasing investor focus in the cryptocurrency market. Decryptz tracks more than 2,000 coins across all major social networks, generating data about overall and individual coin sentiment. Features include the “Top Five Hated and Liked Cryptocurrencies,” the implied price of major currencies, crypto trending topics, and customized, coin-based alerts. (As of October 31, the implied price of Bitcoin based on social sentiment suggested the currency remains overvalued by more than 45 percent.)

“Traders used to sit around and talk about where they thought the market was heading,” said James Crane-Baker. “Now all of this conversation occurs online. PsychSignal is the validator and indicator for the stock market using data and sentiment. What PsychSignal does for the stock market, Decryptz does for the crypto market. Our customers have found both tools invaluable for accessing a market that is far more complicated than any one conversation. We truly provide a trading edge.”

More information about both products can be found on their websites along with basic metrics. Subscribers get daily emails with select graphs on the state of the stock and crypto markets.