Analysis of the relationship between Saudi twitter posts and the Saudi stock market

Abstract

Sentiment analysis has become the heart of social media research and many studies have been applied to obtain users' opinion in fields such as electronic commerce and trade, management and also regarding political figures. Social media has recently become a rich resource in mining user sentiments. Social opinion has been analysed using sentiment analysis and some studies show that sentiment analysis of news, documents, quarterly reports, and blogs can be used as part of trading strategies. In this paper, Twitter has been chosen as a platform for opinion mining in trading strategy with the Saudi stock market in order to carry out and illustrate the relationship between Saudi tweets (that is standard and Arabian Gulf dialects) and the Saudi market index. To the best of our knowledge, this is the first study performed on Saudi tweets and the Saudi stock market.