An Analysis of the Correlation between Stock Price Fluctuations and Social Media Traction


  • Junze Sun Iowa City West High School



finance, investing, reddit, social media, data, nvidia, pfizer, jp morgan chase, exxonmobil, ford, walmart, spy, stock market, trends, correlation


This paper aims to identify the correlation between stock performance and social media traction during 2020. It analyzes data from three different investment-focused communities within the social media platform Reddit. This data is compared to the historical financial data of six stocks across six different industries in the year 2020. The number of posts with the name of the stock within the original post each week is compared to the absolute percent change between market open to close for that week. As a control, data from the same time frame on the SPDR S&P 500 ETF Trust is used for comparison with the experimental data. All of the stock price information was taken from Yahoo! Finance. This study reveals that there is a statistically significant positive correlation between stock price change and number of Reddit posts each week. The observed correlation between stock performance and social media patterns has a significant impact in determining future stock volatility and predicting short-term investor sentiment.


Download data is not yet available.

References or Bibliography

Camas Unddit [Computer program]. (n.d.).

Coelho, J., D'almeida, D., Coyne, S., Gilkerson, N., Mills, K., & Madiraju, P. (2019). Social media and forecasting stock price change. IEEE 43rd Annual Computer Software and Applications Conference, 2, 195-200.

CORREL function. (n.d.). Microsoft.,the%20use%20of%20air%20conditioners.

Fung, B. (2023, June 1). Reddit sparks outrage after a popular app developer said it wants him to pay $20 million a year for data access. CNN.

Lush, M., Fontes, A., Zhu, M., Valdes, O., & Mottola, G. (2021, February). Investing 2020: New accounts and the people who opened them. FINRA Foundation.

Malz, A. M. (2021). The gamestop episode: What happened and what does it mean? Cato Journal.

Octoparse (Version 8.6.4) [Computer software]. (2016).

Smith, S., & O'Hare, A. (2022). Comparing traditional news and social media with stock price movements; Which comes first, the news or the price change? Journal of Big Data, 47(9).

Social media increases teenage interest in wall street, wells fargo survey finds. (2021, June 2). Wells Fargo.

Vogels, E. A., Gelles-Watnick, R., & Massarat, N. (2022, August 10). Teens, social media and technology 2022. Pew Research Center.

Wu, X., Wang, X., Ma, S., & Ye, Q. (2017). The influence of social media on stock volatility. Frontiers of Engineering Management, 4(2), 201-211.

Zhang, H., Chen, Y., Rong, W., Wang, J., & Tan, J. (2022). Effect of social media rumors on stock market volatility: A case of data mining in China. Frontiers in Physics, 10.



How to Cite

Sun, J. (2023). An Analysis of the Correlation between Stock Price Fluctuations and Social Media Traction. Journal of Student Research, 12(4).



HS Research Articles