The European Central Bank has presented an indicator based on ChatGPT-5.1 that analyzes investors’ Reddit posts every day to measure their short-term sentiment. The tool uses a dataset of 8 to 9 million posts from 14 investing communities, covering the period from 2015 through April 2026. Changes in the indicator, called R-RISI, are significantly correlated with market returns the following day. During market drawdowns, this correlation with S&P 500 returns is 3.4 times stronger than during calmer periods, potentially helping policymakers identify financial stress earlier.
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