Derivatives and Quantitative Strategist

Gaudenz Schneider

Equity Bottom-Up

<ul>
<li>
Context: The <a href="https://www.smartkarma.com/entities/car-group-ltd" target="_blank" data-smartkarma-citation="entities:701:1" rel="noopener">CAR Group (CAR AU)</a> vs. <a href="https://www.smartkarma.com/entities/seek-ltd" target="_blank" data-smartkarma-citation="entities:676:1" rel="noopener">SEEK (SEK AU)</a> price ratio has deviated more than two standard deviations from its one-year average, presenting a potential relative value opportunity.</li>
<li>
Highlight: Going long <a href="https://www.smartkarma.com/entities/seek-ltd" target="_blank" data-smartkarma-citation="entities:676:1" rel="noopener">SEEK (SEK AU)</a> and short <a href="https://www.smartkarma.com/entities/car-group-ltd" target="_blank" data-smartkarma-citation="entities:701:1" rel="noopener">CAR Group (CAR AU)</a> targets a 8% 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 CAR Group (CAR AU) vs. SEEK (SEK AU) price ratio has deviated more than two standard deviations from its one-year average, presenting a potential relative value opportunity.

Highlight: Going long SEEK (SEK AU) and short CAR Group (CAR AU) targets a 8% 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.


SEEK (SEK AU) Vs CAR Group (CAR AU): Jobs Vs Cars, Stat Arb Signals Trade

<ul>
<li>
Context: Asian indices traded in a narrow band despite ongoing geopolitical uncertainty, creating a sideways market backdrop rather than a broad directional move.</li>
<li>
Highlights: Eight statistically generated pair-trade signals were triggered last week, with five on Thursday alone, spanning Global Indices, Australia, Japan and India.</li>
<li>
Why Read: This recap highlights market-neutral opportunities where single-stock or cross-market dislocations may offer attractive starting points for further relative-value analysis.</li>
</ul>



Context: Asian indices traded in a narrow band despite ongoing geopolitical uncertainty, creating a sideways market backdrop rather than a broad directional move.

Highlights: Eight statistically generated pair-trade signals were triggered last week, with five on Thursday alone, spanning Global Indices, Australia, Japan and India.

Why Read: This recap highlights market-neutral opportunities where single-stock or cross-market dislocations may offer attractive starting points for further relative-value analysis.


Market-Neutral Trade Signals Amid Macro Uncertainty

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Australia's ASIC releases the aggregated short position data four business days after the reporting day. Data in this insight is up to 20th April, published ~9AM on the 24th April.</li>
<li>The largest industry net increase in the past week was A$421mn into "Diversified Metals"; the largest industry net decrease was A$505mn out of "Diversified Banks". Net shorts increased A$2.2bn week-on-week.</li>
<li>Companies mentioned in this regular weekly report include: <a href="https://www.smartkarma.com/entities/bhp-group-ltd" target="_blank" data-smartkarma-citation="entities:147:1" rel="noopener">BHP Group Ltd (BHP AU)</a>, <a href="https://www.smartkarma.com/entities/wisetech-global-ltd" target="_blank" data-smartkarma-citation="entities:22669:1" rel="noopener">Wisetech Global (WTC AU)</a>, <a href="https://www.smartkarma.com/entities/goodman-group" target="_blank" data-smartkarma-citation="entities:959:1" rel="noopener">Goodman Group (GMG AU)</a>, <a href="https://www.smartkarma.com/entities/4dmedical-ltd" target="_blank" data-smartkarma-citation="entities:30789:1" rel="noopener">4DMedical (4DX AU)</a>, and <a href="https://www.smartkarma.com/entities/droneshield-ltd" target="_blank" data-smartkarma-citation="entities:30509:1" rel="noopener">DroneShield Ltd (DRO AU)</a>.</li>
</ul>


Australia's ASIC releases the aggregated short position data four business days after the reporting day. Data in this insight is up to 20th April, published ~9AM on the 24th April.
The largest industry net increase in the past week was A$421mn into "Diversified Metals"; the largest industry net decrease was A$505mn out of "Diversified Banks". Net shorts increased A$2.2bn week-on-week.
Companies mentioned in this regular weekly report include: BHP Group Ltd (BHP AU), Wisetech Global (WTC AU), Goodman Group (GMG AU), 4DMedical (4DX AU), and DroneShield Ltd (DRO AU).


Aussie Shorts [20 April 2026]: BHP, Wisetech, Goodman, 4DMedical, DroneShield, Telix Pharmaceuticals

<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 eleven pair trade opportunities persist across four markets and seven sectors.</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 eleven pair trade opportunities persist across four markets and seven sectors.

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 (27 Apr 2026)

Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Apr 17th (reported today). The aggregated short interest was USD44.8bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Amcor, 4Dmedical Ltd, Telstra, Coles, Telix Pharmaceuticals.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Apr 17th (reported today). The aggregated short interest was USD44.8bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Amcor, 4Dmedical Ltd, Telstra, Coles, Telix Pharmaceuticals.


ASX Short Interest Weekly (Apr 17th): Amcor, 4Dmedical Ltd, Telstra, Coles, Telix Pharmaceuticals

Australia

CAR Group Limited operates as a digital marketplace for vehicles. The Company provides a diversified portfolio of brands to sell and buy cars. CAR Group serves customers worldwide.

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CAR Group (CAR AU)

SEEK (SEK AU) Vs CAR Group (CAR AU): Jobs Vs Cars, Stat Arb Signals Trade

One of two relative value ideas with CAR Group as the short leg. Since publication last week, the dislocation has widened, lifting the target...

Gaudenz Schneider

Market-Neutral Trade Signals Amid Macro Uncertainty

Asian indices traded sideways amid geopolitical uncertainty, triggering eight pair-trade signals last week, offering market-neutral opportunities.

Gaudenz Schneider

Aussie Shorts [20 April 2026]: BHP, Wisetech, Goodman, 4DMedical, DroneShield, Telix Pharmaceuticals

The largest industry net increase in the past week was A$421mn into "Diversified Metals"; the largest net decrease was A$505mn out of "Diversified...

David Blennerhassett

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (27 Apr 2026)

Discover eleven pair trade opportunities across four markets and seven sectors using statistical mean-reversion methodology for actionable insights.

Gaudenz Schneider

ASX Short Interest Weekly (Apr 17th): Amcor, 4Dmedical Ltd, Telstra, Coles, Telix Pharmaceuticals

We analyzed ASX short interest report for the past week and highlight short interest changes in Amcor, 4Dmedical Ltd, Telstra, Coles, Telix...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

SEEK (SEK AU) Vs CAR Group (CAR AU): Jobs Vs Cars, Stat Arb Signals Trade

One of two relative value ideas with CAR Group as the short leg. Since publication last week, the dislocation has widened, lifting the target...

Gaudenz Schneider

Market-Neutral Trade Signals Amid Macro Uncertainty

​Asian indices traded sideways amid geopolitical uncertainty, triggering eight pair-trade signals last week, offering market-neutral opportunities.

Gaudenz Schneider

Aussie Shorts [20 April 2026]: BHP, Wisetech, Goodman, 4DMedical, DroneShield, Telix Pharmaceuticals

The largest industry net increase in the past week was A$421mn into "Diversified Metals"; the largest net decrease was A$505mn out of "Diversified...

David Blennerhassett

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (27 Apr 2026)

​Discover eleven pair trade opportunities across four markets and seven sectors using statistical mean-reversion methodology for actionable insights.

Gaudenz Schneider

ASX Short Interest Weekly (Apr 17th): Amcor, 4Dmedical Ltd, Telstra, Coles, Telix Pharmaceuticals

We analyzed ASX short interest report for the past week and highlight short interest changes in Amcor, 4Dmedical Ltd, Telstra, Coles, Telix...

Ke Yan, CFA, FRM

Asian indices traded sideways amid geopolitical uncertainty, triggering eight pair-trade signals last week, offering market-neutral opportunities.

Discover eleven pair trade opportunities across four markets and seven sectors using statistical mean-reversion methodology for actionable insights.