Korea / Special Situations, Clepsydra Capital

Sanghyun Park

Korea / Special Situations

Korea / Special Sits, Pairs, Index Rebalancing

Clepsydra Capital

Investigate special situations, pairs, and index rebalancing trades in Korea.

Event-Driven

Mirae Asset TIGER Secondary Cell ETF / Event-Driven

<ul>
<li>In general, the projection hit rate for the top market cap constituents was sufficiently high. And the correlation between their stock price direction and passive flow was also high.</li>
<li>However, the projection hit rate for the constituents with a small market cap was relatively low.</li>
<li>If we traded the proposed tradable names with an equal-weighted Long/Short basket, we would have achieved a return of 1.76%. Even excluding Hanjin Kal, we would have achieved 1.31%.</li>
</ul>


In general, the projection hit rate for the top market cap constituents was sufficiently high. And the correlation between their stock price direction and passive flow was also high.
However, the projection hit rate for the constituents with a small market cap was relatively low.
If we traded the proposed tradable names with an equal-weighted Long/Short basket, we would have achieved a return of 1.76%. Even excluding Hanjin Kal, we would have achieved 1.31%.


Recap on WISE Theme Indexes (TIGER ETFs) Rebalancing Trading on April 14

<ul>
<li>Three WISE theme indexes undergo quarterly rebalancing today at the close.</li>
<li>The flow projections shown below in the DETAIL are based on the closing prices of April 12.</li>
<li>We have 13 Long/Short tradable names based on these flow projections: an ADTV of at least ₩10B &amp; a passive flow impact of 0.10x ADTV or more</li>
</ul>


Three WISE theme indexes undergo quarterly rebalancing today at the close.
The flow projections shown below in the DETAIL are based on the closing prices of April 12.
We have 13 Long/Short tradable names based on these flow projections: an ADTV of at least ₩10B &amp; a passive flow impact of 0.10x ADTV or more


WISE Theme Indexes Rebalancing Today: Flow Projections as of Close on April 12

<ul>
<li>Here are the tradable stocks for Long/Short position buildups for the KOSDAQ 150 rebalancing in June.</li>
<li>LONG (Additions): Dear U (376300 KS), Vidente (121800 KS), GOLFZON (215000 KS), Hana Micron (067310 KS), Danal (064260 KS), &amp; Intellian Technologies (189300 KS) 
</li>
<li>SHORT (Deletions): Daea Ti (045390 KS), Advanced Process Systems (265520 KS), Unison (018000 KS), Danawa (119860 KS), OE Solutions (138080 KS), &amp; Toptec (108230 KS) 
</li>
</ul>


Here are the tradable stocks for Long/Short position buildups for the KOSDAQ 150 rebalancing in June.
LONG (Additions): Dear U (376300 KS), Vidente (121800 KS), GOLFZON (215000 KS), Hana Micron (067310 KS), Danal (064260 KS), &amp; Intellian Technologies (189300 KS) 

SHORT (Deletions): Daea Ti (045390 KS), Advanced Process Systems (265520 KS), Unison (018000 KS), Danawa (119860 KS), OE Solutions (138080 KS), &amp; Toptec (108230 KS) 



KOSDAQ 150 Rebalancing in June: Safely Tradable Names for Position Buildups at This Point

Mirae Asset Tiger Media Contents ETF / Event-Driven

<ul>
<li>Next Thursday, the rebalancing trading of the WISE Secondary Cell Index will occur. The current AUM is ₩0.15T, and the AUM has increased a bit in the last two weeks.</li>
<li>Four names (2 Longs &amp; 2 Shorts) are screened as follows: CJ ENM, Dear U, JYP Entertainment, &amp; Jcontentree Corp.</li>
<li>We should consider putting only JYP Ent in the Short basket. On the other hand, it seems okay to put CJ ENM and Dear U together in the Long basket.</li>
</ul>


Next Thursday, the rebalancing trading of the WISE Secondary Cell Index will occur. The current AUM is ₩0.15T, and the AUM has increased a bit in the last two weeks.
Four names (2 Longs &amp; 2 Shorts) are screened as follows: CJ ENM, Dear U, JYP Entertainment, &amp; Jcontentree Corp.
We should consider putting only JYP Ent in the Short basket. On the other hand, it seems okay to put CJ ENM and Dear U together in the Long basket.


WISE Media Contents Rebalancing (TIGER ETF): Long/Short Tradable Names

<ul>
<li>WISE Media Contents rebalances every quarter in January, April, July, and October. The effective date for the upcoming rebalancing is April 15.</li>
<li>The gap between the rebalancing weight change estimations based on the float-adjusted market caps and the actual implementation of the ETF operator (TIGER) is not significant.</li>
<li>Following stocks are worth paying attention: (Short) Jyp Entertainment, S.M.Entertainment, Studio Dragon, Jcontentree, and SBS Contents Hub / (Long) CJ ENM, DearU, D&amp;C Media, Genie Music, and IHQ</li>
</ul>


WISE Media Contents rebalances every quarter in January, April, July, and October. The effective date for the upcoming rebalancing is April 15.
The gap between the rebalancing weight change estimations based on the float-adjusted market caps and the actual implementation of the ETF operator (TIGER) is not significant.
Following stocks are worth paying attention: (Short) Jyp Entertainment, S.M.Entertainment, Studio Dragon, Jcontentree, and SBS Contents Hub / (Long) CJ ENM, DearU, D&amp;C Media, Genie Music, and IHQ


WISE Media Contents (TIGER ETF) Rebalancing Preview

South Korea

Dear U Co Ltd develops and produces application software. The Company provides mobile karaoke services, artist-only fan community platform and other services. Dear U offers services worldwide.

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DearU (376300 KS)

Recap on WISE Theme Indexes (TIGER ETFs) Rebalancing Trading on April 14

This post is a recap of our flow trading on the WISE Theme Indexes (TIGER ETFs) rebalancing, which was carried out on April 14.

Sanghyun Park

WISE Theme Indexes Rebalancing Today: Flow Projections as of Close on April 12

Three WISE Theme Indexes undergo quarterly rebalancing today at the close. This post screens 13 tradable names for a Long/Short basket day trading.

Sanghyun Park

KOSDAQ 150 Rebalancing in June: Safely Tradable Names for Position Buildups at This Point

This post screens the tradable stocks for Long/Short position buildups for the KOSDAQ 150 rebalancing, which will occur on the second Thursday in...

Sanghyun Park

WISE Media Contents Rebalancing (TIGER ETF): Long/Short Tradable Names

This post recommends Long/Short tradable names for the rebalancing trading event of the WISE Media Contents Index (TIGER ETF) next Thursday.

Sanghyun Park

WISE Media Contents (TIGER ETF) Rebalancing Preview

This post previews the upcoming rebalancing of the WISE Media Contents Theme Index (TIGER ETF), whose effective date is April 15.

Sanghyun Park

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