  Multi-messenger astrophysics is undergoing a transition towards low-latency
searches based on signals that could not individually be established as
discoveries. The rapid identification of signals is important in order to
initiate timely follow-up observations of transient emission that is only
detectable for short time periods. Joint searches for gravitational waves and
high-energy neutrinos represent a prime motivation for this strategy. Both
gravitational waves and high-energy neutrinos are typically emitted over a
short time frame of seconds to minutes during the formation or evolution of
compact objects. In addition, detectors searching for both messengers observe
the whole sky continuously, making observational information on potential
transient sources rapidly available to guide follow-up electromagnetic surveys.
The direction of high-energy neutrinos can be reconstructed to sub-degree
precision, making a joint detection much better localized than a typical
gravitational wave signal. Here we present a search strategy for joint
gravitational wave and high-energy neutrino events that allows the
incorporation of astrophysical priors and detector characteristics following a
Bayesian approach. We aim to determine whether a multi-messenger correlated
signal is a real event, a chance coincidence of two background events or the
chance coincidence of an astrophysical signal and a background event. We use an
astrophysical prior that is model agnostic and takes into account mostly
geometric factors. Our detector characterization in the search is mainly
empirical, enabling detailed realistic accounting for the sensitivity of the
detector that can depend on the source properties. By this means, we will
calculate the false alarm rate for each multi-messenger event which is required
for initiating electromagnetic follow-up campaigns.
