ChatGPT is better at predicting how stocks will react to news headlines than traditional models, new study shows
published Monday in the Social Science Research Network by two University of Florida finance professors.
The study also found that ChatGPT outperformed other"traditional sentiment analysis methods" that also use data from headlines and social media to forecast stock movements — although the researchers admit they did not test every single one of these methods in this study. They added:"Our results suggest that incorporating advanced language models into the investment decision-making process can yield more accurate predictions and enhance the performance of quantitative trading strategies."
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