{"id":17965,"date":"2025-12-22T12:39:21","date_gmt":"2025-12-22T12:39:21","guid":{"rendered":"https:\/\/microsites.ncl.ac.uk\/nubsstaffblog\/?p=17965"},"modified":"2025-12-22T12:39:21","modified_gmt":"2025-12-22T12:39:21","slug":"finance-research-seminar-dr-deeya-sewraj","status":"publish","type":"post","link":"https:\/\/microsites.ncl.ac.uk\/nubsstaffblog\/2025\/12\/22\/finance-research-seminar-dr-deeya-sewraj\/","title":{"rendered":"Finance Research Seminar \u2013 Dr\u00a0Deeya Sewraj"},"content":{"rendered":"<div class=\"x_elementToProof\"><strong>Title<\/strong>: \u00a0Investor Sentiment and Fundamentally unrelated securities: Evidence from Crypto assets and Meme stocks<\/div>\n<div class=\"x_elementToProof\" aria-hidden=\"true\">\n<p><strong>Date<\/strong>: 25 March 2026<\/p>\n<p><strong>Time<\/strong>: 14:00-15:00<\/p>\n<p><strong>Venue: <\/strong>NUBS.2.14<\/p>\n<p>If you would like to attend, please register using the following link<\/p>\n<p><a href=\"https:\/\/forms.office.com\/pages\/responsepage.aspx?id=yRJQnBa2wkSpF2aBT74-hz-fP_3f-FxPhH06AeweumxUNDBQNUZYUTlKS1NUSjQ3MlQzSzRLR09HNyQlQCNjPTEu&amp;route=shorturl\">Investor Sentiment and Fundamentally unrelated securities: Evidence from Crypto assets and Meme stocks<\/a><\/p>\n<p><strong>Speaker<\/strong><strong>:\u00a0 <\/strong>\u00a0Dr\u00a0Deeya Sewraj<\/p>\n<p><a href=\"https:\/\/www.ncl.ac.uk\/business\/people\/profile\/deeyasewraj.html\">https:\/\/www.ncl.ac.uk\/business\/people\/profile\/deeyasewraj.html<\/a><\/p>\n<p><strong>Abstract:<\/strong><\/p>\n<p>This paper studies sentiment-driven co-movement across fundamentally unrelated securities. We focus on small-cap growth equities and cryptocurrencies, two asset classes with no obvious shared cash-flow fundamentals, valuation anchors, or economic exposure, yet which exhibit significant co-movement in price. Using a regime-switching framework and three unique investor sentiment indexes, we show that this co-movement is strongly state-dependent: correlations and common price variation rise sharply during positive-sentiment regimes and attenuate during negative-sentiment regimes. To pinpoint the securities most exposed to this mechanism, we construct regime-specific baskets of small-cap growth firms using textual analysis of retail-investor messaging boards. These boards proxy for noise traders who are more susceptible to shifts in attention and irrational exuberance. The resulting baskets display the strongest and most sentiment-sensitive co-movement with cryptocurrencies. In contrast, we find no comparable regime-switching co-movement between cryptocurrencies and large-cap equities when large-cap baskets are constructed from textual analysis of traditional financial media (Financial Times and Bloomberg), which we interpret as a proxy for informed, professional investor attention. Overall, our results support a behavioural channel in which retail sentiment and attention generate correlated demand shocks across otherwise unrelated assets, with implications for diversification, risk management, and the interpretation of cross-asset \u201ccontagion\u201d episodes.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Title: \u00a0Investor Sentiment and Fundamentally unrelated securities: Evidence from Crypto assets and Meme stocks Date: 25 March 2026 Time: 14:00-15:00 Venue: NUBS.2.14 If you would&#8230; <br \/><a href=\"https:\/\/microsites.ncl.ac.uk\/nubsstaffblog\/2025\/12\/22\/finance-research-seminar-dr-deeya-sewraj\/\" rel=\"bookmark\"><strong>Read more<\/strong><\/a><\/p>\n","protected":false},"author":11659,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6],"tags":[1038,210],"class_list":["post-17965","post","type-post","status-publish","format-standard","hentry","category-research","tag-finance-research-seminar","tag-research-seminar"],"acf":[],"_links":{"self":[{"href":"https:\/\/microsites.ncl.ac.uk\/nubsstaffblog\/wp-json\/wp\/v2\/posts\/17965","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/microsites.ncl.ac.uk\/nubsstaffblog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/microsites.ncl.ac.uk\/nubsstaffblog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/microsites.ncl.ac.uk\/nubsstaffblog\/wp-json\/wp\/v2\/users\/11659"}],"replies":[{"embeddable":true,"href":"https:\/\/microsites.ncl.ac.uk\/nubsstaffblog\/wp-json\/wp\/v2\/comments?post=17965"}],"version-history":[{"count":1,"href":"https:\/\/microsites.ncl.ac.uk\/nubsstaffblog\/wp-json\/wp\/v2\/posts\/17965\/revisions"}],"predecessor-version":[{"id":17966,"href":"https:\/\/microsites.ncl.ac.uk\/nubsstaffblog\/wp-json\/wp\/v2\/posts\/17965\/revisions\/17966"}],"wp:attachment":[{"href":"https:\/\/microsites.ncl.ac.uk\/nubsstaffblog\/wp-json\/wp\/v2\/media?parent=17965"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/microsites.ncl.ac.uk\/nubsstaffblog\/wp-json\/wp\/v2\/categories?post=17965"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/microsites.ncl.ac.uk\/nubsstaffblog\/wp-json\/wp\/v2\/tags?post=17965"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}