Alternative Data News. 13, November 2019

The AltDataNewsletter by CloudQuant

Finding sources and uses for alternative data can be difficult. At CloudQuant we regularly read and search the internet for new sources of data that can be used in our mission to find alpha signals and build quantitative trading strategies. We recognize that we are technology and data junkies so we wrote our own crawler that specifically seeks out web pages, posts, and news articles that give us a snapshot of what is going on in the world of Alt Data. The following is a collection of articles that we think you will find interesting from the past week.


Be Careful Out There!

A glitch in the Robinhood Markets Inc. system is allowed users to trade stocks with excess borrowed funds, giving them access to what amounts to free money. Dubbed the “infinite money cheat code” by users of Reddit Inc.’s WallStreetBets forum. One trader bragged about a $1 million position funded by a $4,000 deposit.

Robinhood is “aware of the isolated situations and communicating directly with customers,” spokesperson Lavinia Chirico said in an email response to questions.

2019-11-12 08:35:16+00:00 Read the full story…

Challenges of Data Quality in the AI Ecosystem

Artificial intelligence (AI), encompasses the broad fields of data capture, data storage, data preparation, and advanced data analytics technologies. In other words, AI systems are not limited to a single aspect of Data Management; rather, they are increasingly penetrating any and every aspect of business through allied data technologies like machine learning (ML), deep learning, (DL), neural networks, natural language processing (NLP), and others.

Every day, organizations are experiencing some change in business due to partial or full automation of systems, processes, and tasks — threatening to replace human labor. ML solutions have even started demonstrating that they are better than human statisticians in data preparation, thus challenging the humans in highly qualified, intellectual tasks.

2019-11-12 08:35:16+00:00 Read the full story…
Weighted Interest Score: 5.5789, Raw Interest Score: 2.5540,
Positive Sentiment: 0.2007, Negative Sentiment 0.3740

CloudQuant Thoughts : Very interesting article raises (amongst other things) the latest C-suite concern that poor Data Quality (DQ) can result in bad decisions which in turn significantly reduce business users’ faith in data-driven decisions. Organizations are regularly failing to meet their data analytics targets due to issues around data silos, bad data, data compliance issues, lack of data experts, and inadequate systems. Historical data from multiple sources with inconsistent standards and varying levels of accuracy continue to cause problems. CloudQuant has resolved many of these issue relating to Stock Market alternative data sets. We already have the ability to align data from different sources with different time series and now provide rigorous testing of white paper assertions as a service to both data suppliers and data consumers. We also provide the python code used to prove the assertions which you can then run in our back-tester! Wow – reproducible results! Head over to the CloudQuant Data Showcase to find out more.

Hedge funds gain in October, but managed futures a drag on overall returns

The global hedge fund industry saw an average return of +0.55 per cent in October, bringing year to data (YTD) average industry returns to +7.09 per cent, according to the October 2019 eVestment hedge fund performance data.

Managed Futures funds, which saw returns at -1.73 per cent in October, were the primary reason aggregate returns were not more positive last month.

YTD 83 per cent of funds tracked by eVestment have produced positive resul…
2019-11-12 00:00:00 Read the full story…
Weighted Interest Score: 5.4858, Raw Interest Score: 2.2780,
Positive Sentiment: 0.4649, Negative Sentiment 0.1395

CloudQuant Thoughts : Good results for October but we all know the rest of 2019 has been brutal. Now more than ever alpha needs to be sought from ever wider sources. Alternative Data sets are the differentiator. Finding alternative data sets with reproducible results is the challenge here. CloudQuant now offers trading data sets where we have done all the hard work for you, fixing issues, testing, proving. You no longer need to hunt down data to try to reproduce a white paper result only to find it impossible and wondering if the alpha ever existed or if you are just missing an opportunity. Head over to the CloudQuant Data Showcase to find out more.

Mathematicians, Data Engineers Dominate November’s Hottest Jobs

Employers’ hunger for mathematicians and data engineers seems insatiable, according to our November breakdown of data from Burning Glass’s NOVA platform, which analyzes millions of active job postings.

In fact, there’s been precious little shift in the top rankings from last month’s analysis: mathematicians and data engineers placed first and second, respectively, followed by computer scientists (up from fourth place last month). Job postings for mathematicians grew 91.7 percent year-over-year, easily outpacing every other position on the list by a considerable margin.

As with previous months, the primacy of mathematicians and data engineers suggests that companies are intent on assembling a workforce that can efficiently evaluate, clean, analyze, and generate useful insights from data. That conclusion is reinforced by other jobs on this list, including data scientists and various kinds of analysts—it’s clear that wrangling data is a key part of companies’ strategy.

2019-11-13 00:00:00 Read the full story…
Weighted Interest Score: 2.8288, Raw Interest Score: 1.6899,
Positive Sentiment: 0.1837, Negative Sentiment 0.0367

CloudQuant Thoughts : Data Science, AI, ML, Deep Learning. These are all the roles of the future, now.  But these growth rates are astronomical. Anyone with a curious mathematical mind, anywhere in the world, can find everything they need to learn online and become valuable to these companies in a matter of months. Seeing the opportunities and the breakthroughs coming through week after week makes me wish I could start all over again. It is truly an exceptional time to be involved in AI/ML/BigData.

Data management: An ongoing challenge for investors and asset managers

Data is the heart of the asset management industry. Multi-million-dollar decisions are made and deals are won based on the insights and number-crunching results data provides. After all, data is an enabler for smarter, more fact-based decisions. But it can also be an anchor. Firms today are struggling to cope with volume while ensuring quality, implementing sound governance and extracting value in the sea of constantly changing information. These overarching issues represent the “data management challenge” and they impact the entire asset management sector, including hedge funds, private equity firms, fund administrators and family offices.

The days of relying on pricing vendors, annual reports and other traditional sources of information to inform investment decisions are long gone. A new data paradigm has emerged. Asset managers are increasingly incorporating financial and non-financial data flows from the internet, social media and a multitude of other sources into position making. With information feeding these sources growing exponentially, it’s no surprise that firms are drowning in data.

2019-11-05 00:00:00 Read the full story…
Weighted Interest Score: 2.7552, Raw Interest Score: 1.6127,
Positive Sentiment: 0.3165, Negative Sentiment 0.2110

CloudQuant Thoughts : Different article, same story. Investors need data, too much alternative data – too little time, quality unknown, value unprovable.

Passive Fund Inflows Overtake Active In Europe

The total of flows into index trackers and exchange-traded funds in Europe were greater than flows into active funds for the first time. Detlef Glow, head of Lipper EMEA research at Refinitiv, said at the Refinitiv Lipper Alpha Expert Forum 2019 in London today that assets under management in Europe increased to the end of September this year, compared to the same period last year.

Glow said: “For the first time index trackers had more market share than ETFs.” Index traders had 9% of market share in first nine months of this year, compared to ETFs with 7%. “For the first time passive flows were more than active,” he added. “The competition is on.” Index trackers had 32% of inflows in the first nine months of this year and ETFs had 31%, meaning that passive flows were more than 50% for the first time.

2019-11-07 21:54:07+00:00 Read the full story…
Weighted Interest Score: 4.7261, Raw Interest Score: 1.8929,
Positive Sentiment: 0.1429, Negative Sentiment 0.0357

SocGen’s Loo: Fintech independence important

Fintechs involved in accelerators need to keep their independence to drive innovation, according to the deputy head of sales for global markets at Societe Generale. “We think that it is important for the fintech to keep their agility, their independence .We are happy to accompany them, to make them grow but we don’t necessarily want them to become 100 percent Societe Generale because then you are a different animal,” says Albert Loo. “So, we want to keep them extremely motivated to push and develop.”

“If something is working well for us – for example AI based tool from Nephelai for booking error detection – it could work for other banks, other asset managers, hedge funds and so on, and we are happy to promote the start-ups vis-à-vis our clients.” At the beginning of October, SocGen announced it was launching the second unit of its global markets incubator, opening its trading floors to fintechs dedicated in capital market activities. The deadline for applications ends on November 15.

2019-11-08 00:00:00 Read the full story…
Weighted Interest Score: 5.0537, Raw Interest Score: 1.8291,
Positive Sentiment: 0.1892, Negative Sentiment 0.0315

Aible Unveils New Tableau Extension for Optimizing Business Impact with AutoML

A new press release states, “Today Aible announced the upcoming launch of its new Aible for Tableau Extension. The Aible for Tableau extension empowers viewers of Tableau to optimize business impact with AI in Tableau. With Aible and Tableau, Tableau authors can easily create and democratize AI across the enterprise for anyone to get predictions, run what-if scenarios, and get actionable recommendations. Aible business-ready AutoML provides a sim…
2019-11-13 08:10:02+00:00 Read the full story…
Weighted Interest Score: 4.6624, Raw Interest Score: 1.8777,
Positive Sentiment: 0.4292, Negative Sentiment 0.0000

Python Just Overtook Java On GitHub, But How Did It Fare Overall?

The data science and artificial intelligence community have been the force behind the rise of Python adoption among developers. Now, according to the State of the Octoverse report, Python has pipped Java and become the second most used language after JavaScript.

The growth of Python can be correlated with a wide range of tools and frameworks. The most notable ones are the surge of Jupyter Notebook, TensorFlow, a…
2019-11-11 11:37:01+05:30 Read the full story…
Weighted Interest Score: 4.1137, Raw Interest Score: 2.0160,
Positive Sentiment: 0.1657, Negative Sentiment 0.0552

Finding a Holistic Predictive Analytics Approach to Boost Employee Retention

Predictive analytics can be invaluable to any organization that is striving to improve employee retention. Here’s why it’s so helpful and beneficial in nowadays. The benefits of predictive analytics for businesses are numerous. Most case studies and industry advice columns focus on improved cost effectiveness, the propensity for innovation and the ability to reach new customers. However, predictive analytics can be just as valuable for solving employee retention problems.

All businesses that want to improve retention should consider developing predictive analytics models. Companies that have highly engaged teams will have 21% higher profitability. The exact applications of predictive analytics are not immediately evident to a manager without a background in data analysis. However, companies that are clever about setting up predictive analytics decision-making models will reap the rewards. Here are some ways that predictive analytics can be useful in boosting employee retention :

2019-11-07 20:55:54+00:00 Read the full story…
Weighted Interest Score: 4.0747, Raw Interest Score: 1.5308,
Positive Sentiment: 0.3152, Negative Sentiment 0.3152

Exchanges Need to Justify High Data Fees

Exchanges can justify high fees – but only if they are adding value!

By Neill Vanlint, Head of Global Sales & Client Operations, GoldenSource

Across global financial markets, it is hard to think of a more contentious issue right now than the prices exchanges are charging for their trading data. Some high-profile potential acquisitions, including the London Stock Exchange’s $27bn bid to buy Refinitiv, means that there could soon be more market d…
2019-11-06 13:22:03+00:00 Read the full story…
Weighted Interest Score: 3.7500, Raw Interest Score: 1.7848,
Positive Sentiment: 0.2295, Negative Sentiment 0.3060

UBS, Banco do Brasil Launch Investment Bank

Today UBS and Banco do Brasil signed a binding agreement to establish a strategic partnership that will provide investment banking services and institutional securities brokerage in Brazil and select countries in South America. Clients in the region will have access to M&A and advisory capabilities, debt and equity capital markets, and a broad network of corporates and investors, as well as institutional securities brokerage and research.

Subjec…
2019-11-07 16:21:56+00:00 Read the full story…
Weighted Interest Score: 3.7332, Raw Interest Score: 2.0709,
Positive Sentiment: 0.4242, Negative Sentiment 0.0250

Cloud Analytics Firm Manthan To Acquire US-Based RichRelevance

Manthan, a noted AI-powered cloud analytics software company, announced that they are expanding a suite of Algorithmic Customer Experience solutions through a strategic alliance with RichRelevance, a personalization software provider. Manthan and RichRelevance have initiated a joint go-to-market now, and have set the path towards consolidating their category-leading businesses in the coming year, in compliance with applicable regulations.

RichRe…
2019-11-06 07:03:11+05:30 Read the full story…
Weighted Interest Score: 3.4929, Raw Interest Score: 1.3799,
Positive Sentiment: 0.3881, Negative Sentiment 0.0431

How This Jeremy Howard-Inspired Data Scientist Built Multiple ML Systems From Scratch

e? In order to know their side of the story, every week we get in touch with some of the top data scientists from the industry and try to take a look at their journey.

For this week’s ‘My Journey In Data Science’ we got in touch with Khaleeque Ansari, Data Scientist at ZB.io. Ansari has more than 5 years of experience in the field of data science. Before joining Zb.io, he worked with some of the well-known names from the industry such as MakeMyTrip, SirionLabs, GrownOut and PropTiger.com, among others. With extensive knowledge and practical experience in machine learning, statistics, NLP, deep learning, …
2019-11-08 03:30:54+05:30 Read the full story…
Weighted Interest Score: 3.3201, Raw Interest Score: 1.6462,
Positive Sentiment: 0.3406, Negative Sentiment 0.1892

SRI Portfolios at 4 Robo-Advisors Top Traditional Portfolios: Q3 Robo Report

One of the key highlights from Backend Benchmarking’s third-quarter Robo Report is the outperformance of socially responsible digital portfolios.

Among six SRI portfolios operating for at least one year — each paired with a traditional portfolio from the same firm — four beat their traditional counterpart in one-year performance. The SRI outperformers were from Betterment, Morgan Stanley, TIAA and Wealthsimple, and their outperformance ranged fr…
2019-11-05 00:00:00 Read the full story…
Weighted Interest Score: 3.1991, Raw Interest Score: 1.8809,
Positive Sentiment: 0.0896, Negative Sentiment 0.0896

Electra Transforms the Investigations Process with Integrated Research Data and Machine Learning

Electra Reconciliation 6.0 turns silo-based reconciliation processes into cross-functional collaboration resulting in greater efficiency and transparency

November 12, 2019 – New York, NY – Electra Information Systems, Inc. (“Electra”), a leading provider of award-winning post-trade solutions for the buy-side investment management industry, has added new capabilities to its Electra Reconciliation platform to enable firms to expedite investigati…
2019-11-12 00:00:00 Read the full story…
Weighted Interest Score: 3.0572, Raw Interest Score: 1.9657,
Positive Sentiment: 0.6828, Negative Sentiment 0.4138

Top 7 Data Steward Jobs In Bangalore, Mumbai, Pune & Delhi NCR

Ever since data science has become the sexiest job of the 21st century, allied roles in this sector are also gaining popularity. For example, the role of data steward has been a sought-after position this year in India.

A data steward is responsible for making the best use of an organization’s data governance processes and makes sure that data elements like content and metadata are fit enough. If you are someone who is…
2019-11-11 10:49:21+05:30 Read the full story…
Weighted Interest Score: 3.0474, Raw Interest Score: 1.8542,
Positive Sentiment: 0.2257, Negative Sentiment 0.0322

Expedia Stock in Freefall After Weak Quarter

Expedia Group, Inc. (EXPE) has opened Thursday’s session sharply lower after a nightmare third quarter in which the travel giant missed profit and revenue estimates by wide margins. Revenues rose a paltry 2.8% year over year, highlighting growing alternatives to the company’s near-monopoly, as well as competitive pricing at hotel, airlines, and car rental sites. Executives added to sell-off intensity during the conference call, lowering guidance for 2019 EBITDA growth to a new range of 5% to 8% from the previous forecast of 12% to 15%. Analysts took note of…
2019-11-07 15:53:38.391000+00:00 Read the full story…
Weighted Interest Score: 3.0250, Raw Interest Score: 1.7848,
Positive Sentiment: 0.1257, Negative Sentiment 0.5782

Google partners Citi on checking account

Big tech’s long march on financial services continues, with Google partnering Citi and a small Stanford University-affiliated credit union to launch a checking account.

Code-named Cache, the account is slated to launch early next year, according to the Wall Street Journal.

In contrast with Apple’s tie-up with Goldman Sachs on its new credit card, Google is set to take a backseat on the checking account, with its partners’ brands front and cen…
2019-11-13 13:57:00 Read the full story…
Weighted Interest Score: 2.9675, Raw Interest Score: 2.0717,
Positive Sentiment: 0.3919, Negative Sentiment 0.1120

This Bengaluru-based Startup Uses Analytics To Identify Gaps In Current Lending Value Chain

Even today, many dread the idea of visiting banks, and going through the tedious policies in terms of documents and eligibility is a huge challenge while accessing loans. Banks have a stringent requirement in terms of high credit scores, an exhaustive list of documents to be produced and fulfilling the eligibility criteria.

To make these processes easy and fulfil every financial aspiration with the simplest, shortest and fastest way possible, ve…
2019-11-11 04:37:41+05:30 Read the full story…
Weighted Interest Score: 2.8814, Raw Interest Score: 1.4593,
Positive Sentiment: 0.1737, Negative Sentiment 0.1564

Behind The Code: Why This Data Scientist Does Not Believe In Having A Favourite Algorithm

This week, we got a chance to interact withSaurabh Chaudhary, who is the Data Science Site Lead at Uber R&D, Bangalore. Chaudhary gave us an in data science domain and has also talked about his journey in the industry.

2019-11-12 08:58:04+05:30 Read the full story…
Weighted Interest Score: 2.8271, Raw Interest Score: 1.5201,
Positive Sentiment: 0.1455, Negative Sentiment 0.0647

How Microsoft’s Azure Synapse Analytics Will Help Developers & Businesses

One of the important announcements of the recently-concluded Ignite conference by Microsoft was Azure Synapse Analytics. This comes along as an exciting innovation that promises to fill the gap between data warehouse and data lakes.

Data warehouse and data lakes are an essential requisite for many companies. However, the challenge till now has been that these two do not work in concert with one another, making the decision-making process quite i…
2019-11-10 04:34:14+05:30 Read the full story…
Weighted Interest Score: 2.7478, Raw Interest Score: 1.6553,
Positive Sentiment: 0.2519, Negative Sentiment 0.1080

Euronext gears up M&A strategy for international growth

Creating a fully cross-border infrastructure is a priority for Euronext in it’s as it looks externally for growth opportunities, according to the stock exchange’s CTO.

“Really the idea is to move from an exchange to a full market infrastructure,” says the exchange’s Alain Courbebaisse. “Our approach would be to prepare the next potential acquisition by creating a geographical agnostic kind of post-trade infrastructure exactly as we did for the t…
2019-11-07 00:00:00 Read the full story…
Weighted Interest Score: 2.7151, Raw Interest Score: 1.8051,
Positive Sentiment: 0.2626, Negative Sentiment 0.0985

Promoting Data Science: Key Takeaways From AIM Student Community’s Latest ML Workshop

With a mission to bolster artificial intelligence and data science ecosystem, Analytics India Magazine has been working closely with campuses, institutes and universities in India with AIM Student Ambassador programme.

Recently, our Student Ambassador at School Of Engineering Sciences And Technology Jamia Hamdard, New Delhi, concluded a workshop in Applied Machine Learning. It was attended by nearly a hundred including students and faculty members. The lecture …
2019-11-11 08:30:44+05:30 Read the full story…
Weighted Interest Score: 2.5883, Raw Interest Score: 1.5693,
Positive Sentiment: 0.2173, Negative Sentiment 0.0241

The Latest Power BI Updates

Businesses have embraced different dashboards to enable self analytics and make informed decisions on the go. While there are numerous dashboards in the market, Power BI by Microsoft has been deployed by several companies to raise their bar and harness the potential of data for becoming data-driven firms. However, with the increase in the accessibility of data, there is a risk of potential misuse of information while sharing Power BI reports.

Ov…
2019-11-07 08:30:53+05:30 Read the full story…
Weighted Interest Score: 2.5222, Raw Interest Score: 1.6846,
Positive Sentiment: 0.3042, Negative Sentiment 0.1170

SRI, ESG or Sustainable Investing? Confusion Over Names Limits Growth, Report Says

The multitude of terms used to describe sustainable investing is keeping a lid on money flows into those investments.

According to a report from the Sustainable Finance Working Group of the Institute for International Finance, “The financial services industry has inadvertently created a proliferation of terms that may confuse rather than clarify investment objectives and outcomes.”

Firms are currently using 80 different terms to describe variou…
2019-11-08 00:00:00 Read the full story…
Weighted Interest Score: 2.4731, Raw Interest Score: 1.9218,
Positive Sentiment: 0.2288, Negative Sentiment 0.1373

Google Reportedly Plans To Offer Checking Accounts Next Year

Google is the latest tech giant to push into finance. Raymond Boyd/Getty Images

Topline: While previous attempts from big tech companies like Facebook and Apple to get into financial services have met with obstacles and regulatory scrutiny, Google will become the latest Silicon Valley leader to push into the banking space, as it plans to offer checking accounts starting next year, the Wall Street Journal first reported.

Code-named Cache, the pr…
2019-11-13 00:00:00 Read the full story…
Weighted Interest Score: 2.4429, Raw Interest Score: 1.7148,
Positive Sentiment: 0.1270, Negative Sentiment 0.2223

Fastly, Inc. Just Released Its Third-Quarter Earnings: Here’s What Analysts Think

There’s been a notable change in appetite for Fastly, Inc. (NYSE:FSLY) shares in the week since its third-quarter report, with the stock down 11% to US$18.68. Revenues were a bright spot, with US$50m in sales arriving 2.1% ahead of expectations, although earnings didn’t fare nearly so well, recording a loss of US$0.13, some 7.1% below consensus predictions. Earnings are an important time for investors, as they can track a company’s performance, l…
2019-11-11 21:56:22+11:00 Read the full story…
Weighted Interest Score: 2.4255, Raw Interest Score: 1.2892,
Positive Sentiment: 0.0758, Negative Sentiment 0.2022

Juvo to provide financial identity tech t9o NTT Docomo

Source: Juvo

Juvo, a pioneer of financial identities for the underbanked, has today announced a strategic partnership with DOCOMO Digital, the preeminent mobile commerce enabler.

The partnership will focus on combining Juvo’s financial identity and credit lending capabilities with DOCOMO Digital’s class-leading payments platform for mobile carriers, OTTs and digital merchants. This partnership would enable increased financial flexibility for pr…
2019-11-13 14:16:00 Read the full story…
Weighted Interest Score: 2.3697, Raw Interest Score: 1.4218,
Positive Sentiment: 0.2370, Negative Sentiment 0.1016

Are ESG mutual funds good for retirees?

Should retirees and soon-to-be-retirees invest in SRI and ESG mutual funds?

These acronyms, of course, refer to Socially Responsible Investing (SRI) and Environmental, Social and Corporate Governance (ESG). The investment approaches they represent have very much been in the news lately, especially in the wake of the Business Roundtable statement this summer that maximizing shareholder value can no longer be a company’s main purpose.

The ensuing debate over SRI and ESG investing is potentially an existential one for retirees and soon-to-be retirees, however. It would be particularly bad news …
2019-11-13 00:00:00 Read the full story…
Weighted Interest Score: 2.1815, Raw Interest Score: 1.0353,
Positive Sentiment: 0.1849, Negative Sentiment 0.4252


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