If you have not seen it, we recommend going and having a look at a new feature on Google Finance called Google Domestic Trends.

Google Domestic Trends track Google search traffic across specific sectors of the economy. From advertising and marketing to unemployment to air travel.

Google is taking very basic search patterns (at this stage) and showing trends over time. This is an early first draft – but shows the huge potential of Google leveraging the massive information assets they possess. The value starts to come when you layer additional information over the top of this base data. For example – looking at search traffic for air travel then layering the share price movements of two airlines (Southwest [$LUV] and Delta [$DAL]) over the top. Search traffic for air travel is down – but the two share prices examined have taken much bigger hits. Is this an example of an over-reaction?

This type of data will get more sophisticated over time. It is also but another data point for analysis. However, I think that this release from Google Finance is a fascinating step in the on-line finance space. There are elements of the failed Monitor110 business with this. But there is also a reason that people were excited about what Monitor110 could have been. Google Domestic Trends isn’t yet perfect – but it could be a game-changer.

TechCrunch has a good review – and also nails the Gordon Gekko Wall Street quote.

“The most valuable commodity I know of is information.”