(2004) describe an interesting approach for extracting collocations (i.e., word sketches), and to build a concordance and thesaurus.
they extract grammatical relations of a lexicon using hand-crafted rules, count the frequency of a word which is connected to another word by a specific grammatical relation (e.g., SUBJ OF, OBJ OF) (Lin, 1998), and weigh its collocations by logDice (Rychly, 2008).