These watch lists are built off an algorithm which analyses posts on the popular subreddit known as r/wallstreetbets. Each watch list will contain up to 50 symbols by the frequency and sentiment of their mentions (see below) during a given period of time.
Content of r/wallstreetbets Smart Watch Lists
Here's how we build them.
- Take all the stock/ETF tickers mentioned on WSB for a given period of time
- Calculate the "prevailing sentiment" for every ticker on a given period of time, as a "median of sentiment across all the days of this time frame"
- Distribute symbols to different lists, basing on sentiment (see below) and time frame (1d, 7d, 14d e.t.c.)
- Sort each list by "number of mentions", most popular symbols first
- For each list, trim away symbols which had too few mentions (5 for "1 day" lists and 15 for all the other lists)
- Take top-50 for each list
Note: "for 1 day" means "since beginning of the day today as of NY time zone"
Sentiment is formalized using VADER score. We categorize symbols into 3 buckets:
- Mentioned in any context (ignores sentiment completely)
- Mentioned in primarily negative context (median of sentiment is less than 0)
- Mentioned in primarily positive context (median of sentiment is greater than 0)
We might change the method of analyzing sentiment without a prior notice (but we'll update this page if we do).
How you can use them
Smart Watch Lists can be used in a few different ways in TrendSpider:
- View or browse the watch list like any other
- Use the watch list as a universe for a Market Scanner