How hedge funds are using alt-data to make bets on coronavirus - Business Insider

Shayanne Gal/Business InsiderWith companies revising their forecasts and governments scrambling to put out up-to-date statistics, more investors are turning to alternative data to gauge the impact of the global spread of coronavirus.

"There's obviously a ton of fear and uncertainty out there. One of the things we think this highlights is the need for alternative data," Harrington said. "How can we think about what are the data sets that are going to actually be giving us signals that we're starting to get back into an upswing." "I think this will be another good example of: how do you see this changing over time, and is this a data set that you can start to see the recovery with," he added. ClipperData offers a real-time database of worldwide waterborne flows of crude and oil products. It also receives bills of lading from US customs and border patrol agencies, and has export bills since 2014 and import bills since 2009.

That type of insight is valuable to get a sense of changes in travel, as SimilarWeb can offer a look into activity at hotel chains and and key travel platforms. It's not all bad, though, as entertainment devices and grocery delivery platforms, which will likely see an uptick, can be tracked as well. "A very rich source and it comes at a fast frequency, so you can include it in your models for a market-moving events," he said. Sometimes, it's good to just cut to the chase. That's what Sentifi does, informing users on what are the most and least impacted firms of each sector.

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