![]() ![]() The study introduces the idea that the kind of music investors are listening to at a given moment is a reflection of their mood and influences what stocks they choose to trade. Returns are measured in basis points, a percentage change in price of stocks. And in the case of stocks, returns mean the price change of shares, plus payments from dividends and interest. Returns are money made or lost on an investment over time. It found that an increase in positive music sentiment was associated to a higher return in the stock market for that week and a lower return for the next week. The study, published in August 2021, looked at positivity in the songs of the daily top 200 in 40 countries as a measure of mood in its citizens. What people are listening to at the moment on Spotify is associated with stock market returns, according to a study in the peer-reviewed Journal of Financial Economics.
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