Deputy Chief Economist

Sharmila Whelan

Independent and original Asian investment research

Aletheia Capital

Aletheia Capital (HK) Ltd. (previously known as Asianomics) combines the extensive knowledge of its experienced team with technology and regulatory changes to disrupt Global Markets business in Asia. The firm is completely independent with no conflicts of interest either on Investment Banking advisory or Capital Markets execution.

Macroeconomics

We have been losing confidence in the Japanese growth story for some time, arguing that the best is behind. The reason for staying long Japanese equities is the underlying strength of corporate balance sheets. We prefer Japanese companies that are globally diversified especially those invested in the regional growth story and those increasing exposure to China’s Belt and Road Initiative.

We have been losing confidence in the Japanese growth story for some time, arguing that the best is behind. The reason for staying long Japanese equities is the underlying strength of corporate balance sheets. We prefer Japanese companies that are globally diversified especially those invested in the regional growth story and those increasing exposure to China’s Belt and Road Initiative.

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: In Japan, currently five pair trade opportunities persist across two 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: In Japan, currently five pair trade opportunities persist across two 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 Japan (8 June 2026)

<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 18 pair trade opportunities persist across five markets and eight 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 18 pair trade opportunities persist across five markets and eight 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 (8 June 2026)

<ul>
<li>
Context: The <a href="https://www.smartkarma.com/entities/fuji-heavy-industries-ltd" target="_blank" data-smartkarma-citation="entities:5439:1" rel="noopener">Subaru (7270 JP)</a> vs. <a href="https://www.smartkarma.com/entities/honda-motor-co-ltd" target="_blank" data-smartkarma-citation="entities:154:1" rel="noopener">Honda Motor (7267 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/fuji-heavy-industries-ltd" target="_blank" data-smartkarma-citation="entities:5439:1" rel="noopener">Subaru (7270 JP)</a> and short <a href="https://www.smartkarma.com/entities/honda-motor-co-ltd" target="_blank" data-smartkarma-citation="entities:154:1" rel="noopener">Honda Motor (7267 JP)</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 Subaru (7270 JP) vs. Honda Motor (7267 JP) price ratio has deviated more than two standard deviations from its one-year average, presenting a potential relative value opportunity.

 Highlight: Going long Subaru (7270 JP) and short Honda Motor (7267 JP)  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.


Subaru (7270 JP) Vs Honda (7267 JP): Auto Peers Drift Apart

<ul>
<li>
Context: The <a href="https://www.smartkarma.com/entities/sojitz-corp" target="_blank" data-smartkarma-citation="entities:14437:1" rel="noopener">Sojitz Corp (2768 JP)</a> vs. <a href="https://www.smartkarma.com/entities/eneos-holdings-inc" target="_blank" data-smartkarma-citation="entities:638:1" rel="noopener">ENEOS Holdings (5020 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/eneos-holdings-inc" target="_blank" data-smartkarma-citation="entities:638:1" rel="noopener">ENEOS (5020 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 Corp (2768 JP) vs. ENEOS Holdings (5020 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 ENEOS (5020 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 ENEOS (5020 JP): Trading Japan's Energy–Industry Divide

Japan

TOPIX ETF is an Exchange-traded fund which holds a portfolio representing all stocks in the Tokyo Price Index (TOPIX).  The objective of the trust is to provide investment results that corresponds to the price and yield performance of the component securities of the Tokyo Price Index.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Nomura ETF Topix (1306 JP)

Japan: Don't Hold Your Breath

We have been losing confidence in the Japanese growth story for some time, arguing that the best is behind. The reason for staying long Japanese...

Sharmila Whelan

Relative Value Opportunities in Japan (8 June 2026)

Discover five pair trade opportunities across two sectors using statistical mean-reversion methodology for actionable insights.

Gaudenz Schneider

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (8 June 2026)

Discover 18 pair trade opportunities across five markets and eight sectors using statistical mean-reversion methodology for actionable insights.

Gaudenz Schneider

Subaru (7270 JP) Vs Honda (7267 JP): Auto Peers Drift Apart

8% target return in a pair trade as divergence between two Japanese automakers creates a potential mean-reversion opportunity. Essential for...

Gaudenz Schneider

Sojitz (2768 JP) Vs ENEOS (5020 JP): Trading Japan's Energy–Industry Divide

9% target return in a pair trade as divergence between a Japanese trading house and energy group creates a potential mean-reversion opportunity.

Gaudenz Schneider

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan: Don't Hold Your Breath

We have been losing confidence in the Japanese growth story for some time, arguing that the best is behind. The reason for staying long Japanese...

Sharmila Whelan

Relative Value Opportunities in Japan (8 June 2026)

​Discover five pair trade opportunities across two sectors using statistical mean-reversion methodology for actionable insights.

Gaudenz Schneider

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (8 June 2026)

​Discover 18 pair trade opportunities across five markets and eight sectors using statistical mean-reversion methodology for actionable insights.

Gaudenz Schneider

Subaru (7270 JP) Vs Honda (7267 JP): Auto Peers Drift Apart

8% target return in a pair trade as divergence between two Japanese automakers creates a potential mean-reversion opportunity. Essential for...

Gaudenz Schneider

Sojitz (2768 JP) Vs ENEOS (5020 JP): Trading Japan's Energy–Industry Divide

9% target return in a pair trade as divergence between a Japanese trading house and energy group creates a potential mean-reversion opportunity.

Gaudenz Schneider

Discover five pair trade opportunities across two sectors using statistical mean-reversion methodology for actionable insights.

Discover 18 pair trade opportunities across five markets and eight sectors using statistical mean-reversion methodology for actionable insights.