Derivatives and Quantitative Strategist

Gaudenz Schneider

Equity Bottom-Up

<ul>
<li>
Context: The <a href="https://www.smartkarma.com/entities/inpex-corp" target="_blank" data-smartkarma-citation="entities:20665:1" rel="noopener">Inpex Corp (1605 JP)</a> vs. <a href="https://www.smartkarma.com/entities/ngk-insulators-ltd" target="_blank" data-smartkarma-citation="entities:12580:1" rel="noopener">NGK Insulators (5333 JP)</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 <a href="https://www.smartkarma.com/entities/inpex-corp" target="_blank" data-smartkarma-citation="entities:20665:1" rel="noopener">Inpex Corp (1605 JP)</a> and short <a href="https://www.smartkarma.com/entities/ngk-insulators-ltd" target="_blank" data-smartkarma-citation="entities:12580:1" rel="noopener">NGK Insulators (5333 JP)</a> targets an 8% return, with <a href="https://www.smartkarma.com/entities/inpex-corp" target="_blank" data-smartkarma-citation="entities:20665:1" rel="noopener">Inpex (1605 JP)</a> supported by cheaper valuation.</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 Inpex Corp (1605 JP) vs. NGK Insulators (5333 JP) price ratio has deviated more than two standard deviations from its one-year average, presenting a potential relative value opportunity.

Highlights: Going long Inpex Corp (1605 JP) and short NGK Insulators (5333 JP) targets an 8% return, with Inpex (1605 JP) supported by cheaper valuation.

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.


Inpex Corp (1605 JP) Vs. NGK Insulators (5333 JP): Quant Mean-Reversion Hits Trigger Zone

<ul>
<li>
Context: The <a href="https://www.smartkarma.com/entities/inpex-corp" target="_blank" data-smartkarma-citation="entities:20665:1" rel="noopener">Inpex (1605 JP)</a> vs. <a href="https://www.smartkarma.com/entities/nippon-electric-glass-co-ltd" target="_blank" data-smartkarma-citation="entities:2351:1" rel="noopener">Nippon Electric Glass (5214 JP)</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 <a href="https://www.smartkarma.com/entities/inpex-corp" target="_blank" data-smartkarma-citation="entities:20665:1" rel="noopener">Inpex (1605 JP)</a> and short <a href="https://www.smartkarma.com/entities/nippon-electric-glass-co-ltd" target="_blank" data-smartkarma-citation="entities:2351:1" rel="noopener">Nippon Electric Glass (5214 JP)</a> targets a 7% 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 Inpex (1605 JP) vs. Nippon Electric Glass (5214 JP) price ratio has deviated more than two standard deviations from its one-year average, presenting a potential relative value opportunity.

Highlights: Going long Inpex (1605 JP) and short Nippon Electric Glass (5214 JP) targets a 7% 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 Inpex (1605 JP) Vs. Short Nippon Electric Glass (5214 JP): Statistical Arbitrage Targeting 7%

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Commodities

<ul>
<li>A review of recent events/data impacting our investment themes and outlook</li>
<li>Rising US yields are no longer supporting the US Dollar</li>
<li>A move by the Japanese Government Pension Fund has massive implications for global markets</li>
</ul>


A review of recent events/data impacting our investment themes and outlook
Rising US yields are no longer supporting the US Dollar
A move by the Japanese Government Pension Fund has massive implications for global markets


Overview #68 – The Dog that Didn’t Bark

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Japan Petroleum Exploration / Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/japan-petroleum-exploration" target="_blank" data-smartkarma-citation="entities:12219:1" rel="noopener">Japan Petroleum Exploration (1662 JP)</a> is coming up "cheap" versus <a href="https://www.smartkarma.com/entities/inpex-corp" target="_blank" data-smartkarma-citation="entities:20665:1" rel="noopener">Inpex Corp (1605 JP)</a> on my monitor; however this Holdco relationship is becoming less meaningful.</li>
<li>Preceding my comments on JAPEX and Inpex are the current setup/unwind tables for Asia-Pacific Holdcos.</li>
<li>These relationships trade with a minimum liquidity of US$1mn, and a % market capitalisation &gt;20%.</li>
</ul>



Japan Petroleum Exploration (1662 JP) is coming up "cheap" versus Inpex Corp (1605 JP) on my monitor; however this Holdco relationship is becoming less meaningful.
Preceding my comments on JAPEX and Inpex are the current setup/unwind tables for Asia-Pacific Holdcos.
These relationships trade with a minimum liquidity of US$1mn, and a % market capitalisation &gt;20%.


StubWorld: JAPEX (1662 JP) & Inpex (1605 JP)

Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

<ul>
<li>
<a href="https://www.smartkarma.com/entities/yokogawa-electric-corp" target="_blank" data-smartkarma-citation="entities:12795:1" rel="noopener">Yokogawa Electric (6841 JP) </a>management has launched several initiatives that have improved operating results and increased the share price. </li>
<li>It counts <a href="https://www.smartkarma.com/entities/saudi-aramco" target="_blank" data-smartkarma-citation="entities:27317:1" rel="noopener">Saudi Aramco (ARAMCO AB)</a> , <a href="https://www.smartkarma.com/entities/shell-plc" target="_blank" data-smartkarma-citation="entities:22108:1" rel="noopener">Shell (SHEL LN)</a> and <a href="https://www.smartkarma.com/entities/bp-plc-sponsored-adr" target="_blank" data-smartkarma-citation="entities:27921:1" rel="noopener">BP (BP US)</a> as customers, among others. </li>
<li>As the company ramps up its digital business, its margin will improve even more and will trade closer to parity with its counterparts such as <a href="https://www.smartkarma.com/entities/honeywell-international-inc" target="_blank" data-smartkarma-citation="entities:16765:1" rel="noopener">Honeywell International (HON US)</a> .</li>
</ul>



Yokogawa Electric (6841 JP) management has launched several initiatives that have improved operating results and increased the share price. 
It counts Saudi Aramco (ARAMCO AB) , Shell (SHEL LN) and BP (BP US) as customers, among others. 
As the company ramps up its digital business, its margin will improve even more and will trade closer to parity with its counterparts such as Honeywell International (HON US) .


Japan

INPEX CORPORATION is a holding company established through the reorganization of INPEX Corp and Teikoku Oil.  The Company manages subsidiaries that explores, produces, and sells oil and natural gas.

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Inpex Corp (1605 JP)