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The role of news sentiment in salmon price prediction using deep learning
Umeå University, Faculty of Science and Technology, Department of Mathematics and Mathematical Statistics. Adam Smith Business School, University of Glasgow, UK; Høgskole I Inlandet, Norway.
Adam Smith Business School, University of Glasgow, United Kingdom.
2024 (English)In: Journal of Commodity Markets, ISSN 2405-8513, E-ISSN 2405-8505, Vol. 36, article id 100438Article in journal (Refereed) Published
Abstract [en]

This paper employs deep learning models and sentiment analysis to predict salmon spot prices. Our data includes historical price data and sentiment scores from 2018 to 2022. We extract sentiment scores from salmon-related news headlines by using FinBERT and TextBlob. We begin with price prediction using only historical price data and then introduce sentiment scores to improve the prediction accuracy of deep learning models. We find that the prediction performance of deep learning models outperforms traditional prediction methods in the salmon market. Our primary hybrid CNN-LSTM model outperforms other deep learning models and traditional models. Additionally, deep learning models incorporating sentiment scores exhibit reduced prediction errors. Our findings confirm the value of sentiment information in improving forecasting performance. These findings highlight the effectiveness and robustness of our CNN-LSTM model combined with sentiment analysis for price prediction in the salmon market.

Place, publisher, year, edition, pages
Elsevier, 2024. Vol. 36, article id 100438
Keywords [en]
Deep learning, Price prediction, Sentiment analysis
National Category
Computer Sciences Economics
Identifiers
URN: urn:nbn:se:umu:diva-230844DOI: 10.1016/j.jcomm.2024.100438ISI: 001332060900001Scopus ID: 2-s2.0-85205698148OAI: oai:DiVA.org:umu-230844DiVA, id: diva2:1906310
Available from: 2024-10-17 Created: 2024-10-17 Last updated: 2025-04-24Bibliographically approved

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Ewald, Christian Oliver

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CiteExportLink to record
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Cite
Citation style
  • apa
  • ieee
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  • de-DE
  • en-GB
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Output format
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