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 four 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 four 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 (27 Oct)

Woodside Energy Group Ltd / 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 elevenpair trade opportunities across three markets and seven 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 elevenpair trade opportunities across three markets and seven 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 (20 Oct)

Fisher & Paykel Healthcare Cor / Equity Bottom-Up

<ul>
<li>
Context: The <a href="https://www.smartkarma.com/entities/fisher-paykel-healthcare-cor" target="_blank" data-smartkarma-citation="entities:24208:1" rel="noopener">Fisher &amp; Paykel Health (FPH AU)</a> vs. <a href="https://www.smartkarma.com/entities/resmed-inc-cdi" target="_blank" data-smartkarma-citation="entities:22653:1" rel="noopener">ResMed Inc (RMD 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 Fisher &amp; Paykel Health (FPH AU) and short ResMed Inc (RMD AU) targets a 7% return. However, ResMed is more attractively valued on PEG ratio basis.</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 Fisher &amp; Paykel Health (FPH AU) vs. ResMed Inc (RMD AU) price-ratio has deviated more than two standard deviations from its one-year average, presenting a potential relative value opportunity.

Highlights: Going long Fisher &amp; Paykel Health (FPH AU) and short ResMed Inc (RMD AU) targets a 7% return. However, ResMed is more attractively valued on PEG ratio basis.

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 F&P Health (FPH AU) Vs. Short ResMed (RMD AU): Pair Trade with 7% Upside Potential

<ul>
<li>
Context: Friday’s sell-off occurred after the Australian market closed, but several ASX-listed companies were swept up in the decline through dual listings or U.S.-traded ADRs.</li>
<li>
This Insight looks at the impact on prominent <a href="https://www.smartkarma.com/entities/s-p-asx-200" target="_blank" data-smartkarma-citation="entities:22901:1" rel="noopener">S&amp;P/ASX 200</a> constituents — including BHP, CSL, and major banks. While some companies showed limited movement, others, such as BHP, experienced sharper declines.</li>
<li>
Why Read: Understand where the Australian market might be headed when trading resumes after the weekend.</li>
</ul>



Context: Friday’s sell-off occurred after the Australian market closed, but several ASX-listed companies were swept up in the decline through dual listings or U.S.-traded ADRs.

This Insight looks at the impact on prominent S&amp;P/ASX 200 constituents — including BHP, CSL, and major banks. While some companies showed limited movement, others, such as BHP, experienced sharper declines.

Why Read: Understand where the Australian market might be headed when trading resumes after the weekend.


BHP (BHP AU/US) And Woodside (WDS AU/US) Slide as U.S. Sell-Off Spills Into Australian Stocks

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>
<a href="https://www.smartkarma.com/entities/cochlear-ltd" target="_blank" data-smartkarma-citation="entities:918:1" rel="noopener">Cochlear Ltd (COH AU)</a> expects to report FY26 underlying net profit of $435–460M, an 11–17% increase on FY25, up 5–11% on a comparative (cloud adjusted) basis.</li>
<li>The Nucleus Nexa System has been launched in Europe and Asia Pacific in mid-June 2025 and will be launched in the U.S. by the end of Q1FY26.</li>
<li>The company expects strong FY26 revenue growth in developed markets from the launch of the new Nucleus Nexa implant, with overall revenue and earnings growth weighted to the second half.</li>
</ul>



Cochlear Ltd (COH AU) expects to report FY26 underlying net profit of $435–460M, an 11–17% increase on FY25, up 5–11% on a comparative (cloud adjusted) basis.
The Nucleus Nexa System has been launched in Europe and Asia Pacific in mid-June 2025 and will be launched in the U.S. by the end of Q1FY26.
The company expects strong FY26 revenue growth in developed markets from the launch of the new Nucleus Nexa implant, with overall revenue and earnings growth weighted to the second half.


Cochlear Ltd (COH AU): Earnings Recovery to Continue on Nucleus Nexa Implant Launch

United States

ResMed Inc. develops, manufactures, and markets medical equipment for the treatment of sleep disordered breathing. The Company sells diagnostic and treatment devices in various countries through its subsidiaries and independent distributors.

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ResMed Inc (RMD AU)

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

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

Gaudenz Schneider

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

Statistical methodology identifies eleven pair trade opportunities across three markets and seven sectors, offering unique insights into relative...

Gaudenz Schneider

Long F&P Health (FPH AU) Vs. Short ResMed (RMD AU): Pair Trade with 7% Upside Potential

The price-ratio between Fisher & Paykel Health and ResMed has diverged by 2 standard deviations, offering a potential relative value opportunity...

Gaudenz Schneider

BHP (BHP AU/US) And Woodside (WDS AU/US) Slide as U.S. Sell-Off Spills Into Australian Stocks

Friday’s U.S. market rout pushed dual-listed Australian stocks lower, with BHP and Woodside among the biggest movers. US-traded ADRs and futures...

Gaudenz Schneider

Cochlear Ltd (COH AU): Earnings Recovery to Continue on Nucleus Nexa Implant Launch

Cochlear anticipates strong revenue growth in FY26 driven by new Nucleus Nexa System launch, with expected 11-17% increase in underlying net...

Tina Banerjee

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52-week Range

Market Cap (USDm)

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

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

Gaudenz Schneider

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

​Statistical methodology identifies eleven pair trade opportunities across three markets and seven sectors, offering unique insights into relative...

Gaudenz Schneider

Long F&P Health (FPH AU) Vs. Short ResMed (RMD AU): Pair Trade with 7% Upside Potential

The price-ratio between Fisher & Paykel Health and ResMed has diverged by 2 standard deviations, offering a potential relative value opportunity...

Gaudenz Schneider

BHP (BHP AU/US) And Woodside (WDS AU/US) Slide as U.S. Sell-Off Spills Into Australian Stocks

Friday’s U.S. market rout pushed dual-listed Australian stocks lower, with BHP and Woodside among the biggest movers. US-traded ADRs and futures...

Gaudenz Schneider

Cochlear Ltd (COH AU): Earnings Recovery to Continue on Nucleus Nexa Implant Launch

​Cochlear anticipates strong revenue growth in FY26 driven by new Nucleus Nexa System launch, with expected 11-17% increase in underlying net...

Tina Banerjee

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

Statistical methodology identifies eleven pair trade opportunities across three markets and seven sectors, offering unique insights into relative...

Cochlear anticipates strong revenue growth in FY26 driven by new Nucleus Nexa System launch, with expected 11-17% increase in underlying net...