Research On Exchange-traded Fund Based On Media Sentiment

In modern society,an increasing number of people care about what kind of investment strategy can make the disposable income to get profit,among all kinds of investment way,stock received extensive attention of the investors,and the stock has been the attention of many scholars and research,how to profit maximization become the hot topic of research scholars.Some researchers also studied how news reports played a role in the stock market.They found that the emotional tendency reflected by media news would affect the stock market,and the positive or negative effects would be reflected in the performance of the stock market.This paper chooses 5G stocks as the research object.Starting from the emotional perspective of financial news,this paper quantifies the emotional value of financial news on 5G through emotional analysis.At the same time,it also analyzes and quantifies the text information of authoritative newspapers in order to get authoritative newspapers' attention on 5G.Finally,the emotional value of financial news on 5G and the attention of authoritative newspapers on 5G are integrated according to the date to get an indicator,namely the emotional index of media attention,which is ready for the experimental research in the following part of the article.This paper selects China Securities 5G communication theme ETF(5G ETF)fund as the research object,integrates the emotional data of media attention and the stock index data of 5G ETF according to the date,obtains the complete time series data about the stock,constructs the vector autoregressive model,and then makes impulse response analysis and regression analysis on the model Variance decomposition and Granger causality test are used to further analyze the relationship among media attention emotion and volume degree.