Figure 2

Returns from trading strategies based on Wikipedia access and edit logs for pages relating to finance.

Parallel analysis of the distribution of returns from two much larger portfolios of 285 hypothetical strategies, based on changes in how often a set of 285 financially related Wikipedia pages were viewed (blue) and edited (red) during the same period as Figure 1, again with Δt = 3 weeks. Our analysis shows that the returns of Wikipedia page view based strategies are significantly higher than the returns of random strategies for this period (mean R = 1.10; W = 2286608, p < 0.001, α = 0.05, two-tailed two-sample Wilcoxon rank-sum test, Bonferroni correction applied). Once again however, we find no evidence of a statistically significant difference between the returns from the Wikipedia edit based strategies and the random strategies (mean R = 0.12; W = 1516626, p = 0.19, α = 0.05, two-tailed two-sample Wilcoxon rank-sum test, Bonferroni correction applied).