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Music and the Market: Song and Stock Volatility

Philip Maymin

NYU Poly - Department of Finance and Risk Engineering

October 11, 2011

Popular music may presage market conditions because people contemplating complex future economic behavior prefer simpler music, and vice versa. In comparing the annual average beat variance of the songs in the US Billboard Top 100 since its inception in 1958 through 2007 to the standard deviation of returns of the S&P 500 for the same or the subsequent year, a significant negative correlation is observed. Furthermore, the beat variance appears able to predict future market volatility, producing 2.5 volatility points of profit per year on average.

Number of Pages in PDF File: 29

Keywords: music, complexity, volatility, billboard, strategy, behavioral

JEL Classification: G12

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Date posted: November 5, 2008 ; Last revised: October 12, 2011

Suggested Citation

Maymin, Philip, Music and the Market: Song and Stock Volatility (October 11, 2011). Available at SSRN: http://ssrn.com/abstract=1295584 or http://dx.doi.org/10.2139/ssrn.1295584

Contact Information

Philip Maymin (Contact Author)
NYU Poly - Department of Finance and Risk Engineering ( email )
Brooklyn, NY 11201
United States

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