News Cohesiveness: an Indicator of Systemic Risk in Financial Markets

Motivated by recent financial crises significant research efforts have been put into studying contagion effects and herding behaviour in financial markets. Much less has been said about influence of financial news on financial markets. We propose a novel measure of collective behaviour in financial news on the Web, News Cohesiveness Index (NCI), and show that it can be used as a systemic risk indicator. We evaluate the NCI on financial documents from large Web news sources on a daily basis from October 2011 to July 2013 and analyse the interplay between financial markets and financially related news. We hypothesized that strong cohesion in financial news reflects movements in the financial markets. Cohesiveness is more general and robust measure of systemic risk expressed in news, than measures based on simple occurrences of specific terms. Our results indicate that cohesiveness in the financial news is highly correlated with and driven by volatility on the financial markets

Visual Affect Around the World: A Large-scale Multilingual Visual Sentiment Ontology

Every culture and language is unique. Our work expressly focuses on the uniqueness of culture and language in relation to human affect, specifically sentiment and emotion semantics, and how they manifest in social multimedia. We develop sets of sentiment- and emotion-polarized visual concepts by adapting semantic structures called adjective-noun pairs, originally introduced by Borth et al. (2013), but in a multilingual context. We propose a new language-dependent method for automatic discovery of these adjective-noun constructs. We show how this pipeline can be applied on a social multimedia platform for the creation of a large-scale multilingual visual sentiment concept ontology (MVSO). Unlike the flat structure in Borth et al. (2013), our unified ontology is organized hierarchically by multilingual clusters of visually detectable nouns and subclusters of emotionally biased versions of these nouns. In addition, we present an image-based prediction task to show how generalizable language-specific models are in a multilingual context. A new, publicly available dataset of >15.6K sentiment-biased visual concepts across 12 languages with language-specific detector banks, >7.36M images and their metadata is also released.Comment: 11 pages, to appear at ACM MM'1

A lightweight web video model with content and context descriptions for integration with linked data

The rapid increase of video data on the Web has warranted an urgent need for effective representation, management and retrieval of web videos. Recently, many studies have been carried out for ontological representation of videos, either using domain dependent or generic schemas such as MPEG-7, MPEG-4, and COMM. In spite of their extensive coverage and sound theoretical grounding, they are yet to be widely used by users. Two main possible reasons are the complexities involved and a lack of tool support. We propose a lightweight video content model for content-context description and integration. The uniqueness of the model is that it tries to model the emerging social context to describe and interpret the video. Our approach is grounded on exploiting easily extractable evolving contextual metadata and on the availability of existing data on the Web. This enables representational homogeneity and a firm basis for information integration among semantically-enabled data sources. The model uses many existing schemas to describe various ontology classes and shows the scope of interlinking with the Linked Data cloud

CHORUS Deliverable 2.2: Second report - identification of multi-disciplinary key issues for gap analysis toward EU multimedia search engines roadmap

After addressing the state-of-the-art during the first year of Chorus and establishing the existing landscape in multimedia search engines, we have identified and analyzed gaps within European research effort during our second year. In this period we focused on three directions, notably technological issues, user-centred issues and use-cases and socio- economic and legal aspects. These were assessed by two central studies: firstly, a concerted vision of functional breakdown of generic multimedia search engine, and secondly, a representative use-cases descriptions with the related discussion on requirement for technological challenges. Both studies have been carried out in cooperation and consultation with the community at large through EC concertation meetings (multimedia search engines cluster), several meetings with our Think-Tank, presentations in international conferences, and surveys addressed to EU projects coordinators as well as National initiatives coordinators. Based on the obtained feedback we identified two types of gaps, namely core technological gaps that involve research challenges, and “enablers”, which are not necessarily technical research challenges, but have impact on innovation progress. New socio-economic trends are presented as well as emerging legal challenges