Acadian ends social media data partnership with Microsoft Bing

Quant asset manager says it finds more use in orthodox sources of data

Social media data
Hedge funds find social media useful for news alerts and market sentiment

Quant firm Acadian Asset Management has wound down the partnership it formed in March with Microsoft’s Bing Predicts. The $91 billion US asset manager says it has not found a way to turn social media data into useful signals for a medium-term investment algorithm.

Acadian was hoping to use macroeconomic signals generated by Bing Predicts’ social media and internet search, such as US retail sales and consumer sentiment, in its macro models in particular, while Bing Predicts had intended to use

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