Derivatives and Quantitative Strategist

Gaudenz Schneider

Equity Bottom-Up

<ul>
<li>
Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.</li>
<li>
Highlights: Currently nine pair trade opportunities across four markets and six sectors persist.</li>
<li>
Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.</li>
</ul>



Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.

Highlights: Currently nine pair trade opportunities across four markets and six sectors persist.

Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.


Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (8 Dec)

<ul>
<li>
Context: The <a href="https://www.smartkarma.com/entities/bluescope-steel-ltd" target="_blank" data-smartkarma-citation="entities:207:1" rel="noopener">Bluescope Steel (BSL AU)</a> vs. <a href="https://www.smartkarma.com/entities/sims-metal-management-ltd" target="_blank" data-smartkarma-citation="entities:18184:1" rel="noopener">Sims Metal Management (SGM AU)</a> price-ratio has deviated two standard deviations from its one-year average, presenting a potential relative value opportunity.</li>
<li>
Highlights: Going long Bluescope (BSL AU) and short Sims (SGM AU) targets a 6% return.</li>
<li>
Why Read: Essential for quantitative traders seeking mean-reversion opportunities, with detailed execution framework, risk management protocols, and historical simulation showing the statistical basis for this relative value play.</li>
</ul>



Context: The Bluescope Steel (BSL AU) vs. Sims Metal Management (SGM AU) price-ratio has deviated two standard deviations from its one-year average, presenting a potential relative value opportunity.

Highlights: Going long Bluescope (BSL AU) and short Sims (SGM AU) targets a 6% return.

Why Read: Essential for quantitative traders seeking mean-reversion opportunities, with detailed execution framework, risk management protocols, and historical simulation showing the statistical basis for this relative value play.


Bluescope (BSL AU) Vs. Short Sims (SGM AU): Pair Trade Back in Play

<ul>
<li>
Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.</li>
<li>
Highlights: Currently 14 pair trade opportunities across four markets and five sectors persist.</li>
<li>
Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.</li>
</ul>



Context: This Insight follows up on previously highlighted relative value opportunities, using a statistical methodology based on mean-reversion to identify opportunities in paired securities.

Highlights: Currently 14 pair trade opportunities across four markets and five sectors persist.

Why read: Statistical analysis offers a unique perspective on relative value. Gain insights into actionable statistical pair trade opportunities and monitor performance of previously highlighted pairs.


Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (10 Nov)

<ul>
<li>
Context: The <a href="https://www.smartkarma.com/entities/bluescope-steel-ltd" target="_blank" data-smartkarma-citation="entities:207:1" rel="noopener">Bluescope Steel (BSL AU)</a> vs. <a href="https://www.smartkarma.com/entities/sims-metal-management-ltd" target="_blank" data-smartkarma-citation="entities:18184:1" rel="noopener">Sims Metal (SGM AU)</a> price-ratio has deviated more than two standard deviations from its one-year average, presenting a potential relative value opportunity.</li>
<li>
Highlights: Going long Bluescope (BSL AU) and short Sims (SGM AU) targets a 6% return.</li>
<li>
Why Read: Essential for quantitative traders seeking mean-reversion opportunities, with detailed execution framework, risk management protocols, and historical simulation showing the statistical basis for this relative value play.</li>
</ul>



Context: The Bluescope Steel (BSL AU) vs. Sims Metal (SGM AU) price-ratio has deviated more than two standard deviations from its one-year average, presenting a potential relative value opportunity.

Highlights: Going long Bluescope (BSL AU) and short Sims (SGM AU) targets a 6% return.

Why Read: Essential for quantitative traders seeking mean-reversion opportunities, with detailed execution framework, risk management protocols, and historical simulation showing the statistical basis for this relative value play.


Long Bluescope (BSL AU) Vs. Short Sims (SGM AU): Statistical Arbitrage in Aussie Steel

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/reliance-worldwide-corp-ltd" target="_blank" data-smartkarma-citation="entities:22690:1" rel="noopener">Reliance Worldwide Corp (RWC AU)</a> has disclosed a binding proposal from Brookfield at US$3.38 (A$4.75), a 31.5% premium to the undisturbed price.</li>
<li>The required regulatory approvals are low-risk. AusSuper, with a potentially blocking stake, has yet to disclose its voting intentions. This is the primary source of uncertainty for the scheme. </li>
<li>RWC's Go-Shop was built with the Origin precedent in mind. While not neutralising the risk, it makes it harder for AusSuper to argue that the board didn't test the market.  </li>
</ul>



Reliance Worldwide Corp (RWC AU) has disclosed a binding proposal from Brookfield at US$3.38 (A$4.75), a 31.5% premium to the undisturbed price.
The required regulatory approvals are low-risk. AusSuper, with a potentially blocking stake, has yet to disclose its voting intentions. This is the primary source of uncertainty for the scheme. 
RWC's Go-Shop was built with the Origin precedent in mind. While not neutralising the risk, it makes it harder for AusSuper to argue that the board didn't test the market.  


Reliance Worldwide (RWC AU): Brookfield’s Binding Offer with a Go-Shop Period to Placate AusSuper

Australia

BlueScope Steel Limited supplies steel products and solutions. The Company manufactures steel slabs, plates, hot and cold rolled coils, and coated and painted strip products for building and construction, automotive, whitegoods, and manufacturing applications. BlueScope Steel serves customers in Asia, Australia, New Zealand, and the United States.

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Bluescope Steel (BSL AU)

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (8 Dec)

Statistical methodology identifies nine pair trade opportunities across four markets and six sectors, offering unique insights into relative value.

Gaudenz Schneider

Bluescope (BSL AU) Vs. Short Sims (SGM AU): Pair Trade Back in Play

A 6% target return opportunity emerges as the successful Bluescope vs. Sims pair trade opens for a second time in a short period, signaling renewed...

Gaudenz Schneider

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (10 Nov)

Statistical methodology identifies 15 pair trade opportunities across four markets and five sectors, offering unique insights into relative value.

Gaudenz Schneider

Long Bluescope (BSL AU) Vs. Short Sims (SGM AU): Statistical Arbitrage in Aussie Steel

Bluescope Steel (BSL AU) vs. Sims Metal (SGM AU) price-ratio presents a 6% return opportunity for quantitative traders seeking mean-reversion...

Gaudenz Schneider

Reliance Worldwide (RWC AU): Brookfield’s Binding Offer with a Go-Shop Period to Placate AusSuper

RWC's Go-Shop was built with the Origin precedent in mind. While not neutralising the risk, it makes it harder for AusSuper to argue that the board...

Arun George

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (8 Dec)

​Statistical methodology identifies nine pair trade opportunities across four markets and six sectors, offering unique insights into relative value.

Gaudenz Schneider

Bluescope (BSL AU) Vs. Short Sims (SGM AU): Pair Trade Back in Play

A 6% target return opportunity emerges as the successful Bluescope vs. Sims pair trade opens for a second time in a short period, signaling renewed...

Gaudenz Schneider

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (10 Nov)

​Statistical methodology identifies 15 pair trade opportunities across four markets and five sectors, offering unique insights into relative value.

Gaudenz Schneider

Long Bluescope (BSL AU) Vs. Short Sims (SGM AU): Statistical Arbitrage in Aussie Steel

​Bluescope Steel (BSL AU) vs. Sims Metal (SGM AU) price-ratio presents a 6% return opportunity for quantitative traders seeking mean-reversion...

Gaudenz Schneider

Reliance Worldwide (RWC AU): Brookfield’s Binding Offer with a Go-Shop Period to Placate AusSuper

RWC's Go-Shop was built with the Origin precedent in mind. While not neutralising the risk, it makes it harder for AusSuper to argue that the board...

Arun George

Statistical methodology identifies nine pair trade opportunities across four markets and six sectors, offering unique insights into relative value.

Statistical methodology identifies 15 pair trade opportunities across four markets and five sectors, offering unique insights into relative value.

Bluescope Steel (BSL AU) vs. Sims Metal (SGM AU) price-ratio presents a 6% return opportunity for quantitative traders seeking mean-reversion...