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 six pair trade opportunities persist across three markets and five 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 six pair trade opportunities persist across three markets and five 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 (20 Apr 2026)

<ul>
<li>
Context: The <a href="https://www.smartkarma.com/entities/sojitz-corp" target="_blank" data-smartkarma-citation="entities:14437:1" rel="noopener">Sojitz (2768 JP)</a> vs. <a href="https://www.smartkarma.com/entities/dowa-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:14050:1" rel="noopener">Dowa Holdings (5714 JP)</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/sojitz-corp" target="_blank" data-smartkarma-citation="entities:14437:1" rel="noopener">Sojitz (2768 JP)</a> and short <a href="https://www.smartkarma.com/entities/dowa-holdings-co-ltd" target="_blank" data-smartkarma-citation="entities:14050:1" rel="noopener">Dowa Holdings (5714 JP)</a> targets a 9% 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 Sojitz (2768 JP) vs. Dowa Holdings (5714 JP) price ratio has deviated more than two standard deviations from its one-year average, presenting a potential relative value opportunity.

Highlight: Going long Sojitz (2768 JP) and short Dowa Holdings (5714 JP) targets a 9% 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.


Sojitz (2768 JP) Vs. Dowa Holdings (5714 JP): Quant Pair Trade Signals Opportunity

Chart based progressive global trading strategies, Chart Partners

Thomas Schroeder

Chart based progressive global trading strategies

Chart Partners

Chart Partners objective is to discover medium-term cycle turns and profit opportunities before they unfold, within structural trends while preserving capital with clear degrees of risk. We have real return ideas. 

Markets are dynamic and trading systems must reflect this. It is crucial to determine underlying correlations and lead-lag relationships within global markets and the impact on linked instruments. Our weekly Chartonics product gives you short-term trading strategies that can be applied within the medium and longer term macro trends that are mapped out in our strategy updates. 

Our methodology fuses global market variables and isolates drivers in trends. We specialize in FX, index trade in NY and Asia with a focus on Asian stocks. 

Technical Analysis

Chartonics flash Tuesday 30 August 2016USD/JPY macro low and position update webcast<div>We have made a USD bull case from JPY 100 or 95 if we broke below 100 with a bull pivot above USD/JPY 101 which was triggered Friday. The bigger test revolves around USD sustainability above 101 and a successful test on the lower 101 pullback zone followed by a move through the second hurdle at 102.70. MT pivot resistance lies at 104 (macro bull targets come in at 110 and 114 with ideal objective at 114/117 in…</div>

Chartonics flash Tuesday 30 August 2016USD/JPY macro low and position update webcastWe have made a USD bull case from JPY 100 or 95 if we broke below 100 with a bull pivot above USD/JPY 101 which was triggered Friday. The bigger test revolves around USD sustainability above 101 and a successful test on the lower 101 pullback zone followed by a move through the second hurdle at 102.70. MT pivot resistance lies at 104 (macro bull targets come in at 110 and 114 with ideal objective at 114/117 in…

USD/JPY Macro Low and Fresh Position Webcast

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>
<a href="https://www.smartkarma.com/entities/mitsui-mining-smelting-co" target="_blank" data-smartkarma-citation="entities:15998:1" rel="noopener">Mitsui Kinzoku</a>'s stock price has surged over the last year and that should result in global index inclusion in May.</li>
<li>Positioning in the stock is very high and far exceeds what we see in peers. With one exception, <a href="https://www.smartkarma.com/entities/mitsui-mining-smelting-co" target="_blank" data-smartkarma-citation="entities:15998:1" rel="noopener">Mitsui Kinzoku</a> trades at significantly higher valuations to its peers.</li>
<li>Though there has been recent momentum in the stock, the high positioning and higher valuation could lead to underperformance as we near the start of the rebalance review window.</li>
</ul>



Mitsui Kinzoku's stock price has surged over the last year and that should result in global index inclusion in May.
Positioning in the stock is very high and far exceeds what we see in peers. With one exception, Mitsui Kinzoku trades at significantly higher valuations to its peers.
Though there has been recent momentum in the stock, the high positioning and higher valuation could lead to underperformance as we near the start of the rebalance review window.


Mitsui Kinzoku (5706 JP): Momentum Up, Valuation Gap Widens Ahead of Global Index Inclusion

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Pan Pacific International Holdings / Index Rebalance

Pan Pacific International Holdings (7532 JP)

<ul>
<li>The Nikkei 225 data observation period closed a week ago. The Nikkei announced a cap on <a href="https://www.smartkarma.com/entities/advantest-corp" target="_blank" data-smartkarma-citation="entities:18107:1" rel="noopener">Advantest Corp (6857 JP)</a>, as expected.</li>
<li>Quiddity expectations are unchanged. We see 1 clean ADD, 1 likely ADD (a third possible but unlikely). Against that, two DELetes.</li>
<li>As of now, there is $4bn a side to trade. Beware! The ADV counts are deceptive.</li>
</ul>


The Nikkei 225 data observation period closed a week ago. The Nikkei announced a cap on Advantest Corp (6857 JP), as expected.
Quiddity expectations are unchanged. We see 1 clean ADD, 1 likely ADD (a third possible but unlikely). Against that, two DELetes.
As of now, there is $4bn a side to trade. Beware! The ADV counts are deceptive.


[Quiddity Index] Nikkei 225 Mar26 Rebal - 2 ADDs (3rd Poss?), 2 DELs, 1 CAP

Japan

DOWA HOLDINGS, CO., LTD. mines, refines, smelts, and produces various metalrelated products.  The Company's main products include minerals, precious metals, battery materials, semiconductor and superconductivity materials, magnetic materials, and optical devices.

Price Gauge
52-week Range	0.00 - 0.00
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Dowa Holdings (5714 JP)

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (20 Apr 2026)

Discover six pair trade opportunities across three markets and five sectors using statistical mean-reversion methodology for actionable insights.

Gaudenz Schneider

Sojitz (2768 JP) Vs. Dowa Holdings (5714 JP): Quant Pair Trade Signals Opportunity

Potential relative value opportunity by going long Sojitz and short Dowa, targeting a 9% return based on statistical analysis. Ideal for...

Gaudenz Schneider

USD/JPY Macro Low and Fresh Position Webcast

Chartonics flash Tuesday 30 August 2016USD/JPY macro low and position update webcastWe have made a USD bull case from JPY 100 or 95 if we broke...

Thomas Schroeder

Mitsui Kinzoku (5706 JP): Momentum Up, Valuation Gap Widens Ahead of Global Index Inclusion

Mitsui Kinzoku could be added to a global index in May. Positioning in high and valuations are much higher than most peers. Momentum could lead to...

Brian Freitas

[Quiddity Index] Nikkei 225 Mar26 Rebal - 2 ADDs (3rd Poss?), 2 DELs, 1 CAP

The March 2026 Nikkei 225 rebal is "Ready to Go" as the data period ended a week ago (and I've been slow writing this). The only update since Jan...

Travis Lundy

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (20 Apr 2026)

​Discover six pair trade opportunities across three markets and five sectors using statistical mean-reversion methodology for actionable insights.

Gaudenz Schneider

Sojitz (2768 JP) Vs. Dowa Holdings (5714 JP): Quant Pair Trade Signals Opportunity

Potential relative value opportunity by going long Sojitz and short Dowa, targeting a 9% return based on statistical analysis. Ideal for...

Gaudenz Schneider

USD/JPY Macro Low and Fresh Position Webcast

Chartonics flash Tuesday 30 August 2016USD/JPY macro low and position update webcastWe have made a USD bull case from JPY 100 or 95 if we broke...

Thomas Schroeder

Mitsui Kinzoku (5706 JP): Momentum Up, Valuation Gap Widens Ahead of Global Index Inclusion

Mitsui Kinzoku could be added to a global index in May. Positioning in high and valuations are much higher than most peers. Momentum could lead to...

Brian Freitas

[Quiddity Index] Nikkei 225 Mar26 Rebal - 2 ADDs (3rd Poss?), 2 DELs, 1 CAP

The March 2026 Nikkei 225 rebal is "Ready to Go" as the data period ended a week ago (and I've been slow writing this). The only update since Jan...

Travis Lundy

Discover six pair trade opportunities across three markets and five sectors using statistical mean-reversion methodology for actionable insights.