Fig 4. Spearman correlations among different financial and online data for firms in the validated network.

On the left panel the correlation matrix for the validated network: all correlations between online and financial quantities are weak, as in the entire data set (see left panel of Fig 1), but for the one between the number of followers and the total assets (0.51). Again, the situation changes once we focus on a specific ATECO code and it is even more striking than for the entire data set (see left panel of Fig 1). In fact, the same correlation matrix for sector 62 (Computer programming, consultancy and related activitie) shows a strong correlation, for instance, between the total number of messages and the total assets (0.73) and between the number of Likes per message and the total assets (0.75). In fact, the validated accounts are those that follow a common strategy in the usage of hashtags and the importance of their appearance online increases relatively to the dimension of the company.