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/tokuyama-corp" target="_blank" data-smartkarma-citation="entities:14781:1" rel="noopener">Tokuyama Corp (4043 JP)</a> price ratio has deviated more than three 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/tokuyama-corp" target="_blank" data-smartkarma-citation="entities:14781:1" rel="noopener">Tokuyama Corp (4043 JP)</a> and short <a href="https://www.smartkarma.com/entities/inpex-corp" target="_blank" data-smartkarma-citation="entities:20665:1" rel="noopener">Inpex Corp (1605 JP)</a> targets a 12% 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 Corp (1605 JP) vs. Tokuyama Corp (4043 JP) price ratio has deviated more than three standard deviations from its one-year average, presenting a potential relative value opportunity.

Highlights: Going long Tokuyama Corp (4043 JP) and short Inpex Corp (1605 JP) targets a 12% 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.


Tokuyama (4043 JP) Vs. Inpex Corp (1605 JP): Statistical Arbitrage Targeting 12%

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>ARE Holdings recycle and sells precious metals including gold. It is part of the URBAN MINING story. </li>
<li>Besides that, it is also included in the Semiconductor supply chain as the latter are keen to have conflict-free materials and meet their ESG requirements through having more recycled material. </li>
<li>Gold price is the key driver for ARE Holdings business and if gold price continues going up, ARE Holdings share price should benefit. </li>
</ul>


ARE Holdings recycle and sells precious metals including gold. It is part of the URBAN MINING story. 
Besides that, it is also included in the Semiconductor supply chain as the latter are keen to have conflict-free materials and meet their ESG requirements through having more recycled material. 
Gold price is the key driver for ARE Holdings business and if gold price continues going up, ARE Holdings share price should benefit. 


ARE Holdings (5857): Green Gold and Urban Mine

<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%

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

SBI Shinsei Bank / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sbi-shinsei-bank-ltd" target="_blank" data-smartkarma-citation="entities:16897:1" rel="noopener">SBI Shinsei Bank (8303 JP)</a>, a Japanese financial institution, raised around US$2.1bn in its Japan listing.</li>
<li>SBI Shinsei Bank (SBISB) is a Japanese financial institution providing a range of financial products and services to both individual and institutional customers.</li>
<li>We looked at the company’s past performance in our earlier note. In this note, we talk about the trading dynamics.</li>
</ul>



SBI Shinsei Bank (8303 JP), a Japanese financial institution, raised around US$2.1bn in its Japan listing.
SBI Shinsei Bank (SBISB) is a Japanese financial institution providing a range of financial products and services to both individual and institutional customers.
We looked at the company’s past performance in our earlier note. In this note, we talk about the trading dynamics.


SBI Shinsei Bank IPO Trading - Strong Demand, Peers Mini-Rally Will Help

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
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Nomura ETF Topix (1306 JP)

Tokuyama (4043 JP) Vs. Inpex Corp (1605 JP): Statistical Arbitrage Targeting 12%

Pair trade with a 12% target-return amid significant dislocation of Inpex and Tokuyama. Essential for quantitative traders seeking mean-reversion...

Gaudenz Schneider

ARE Holdings (5857): Green Gold and Urban Mine

ARE Holdings specializes in recycling and selling precious metals like gold, playing a crucial role in the urban mining and semiconductor supply...

Henry Soediarko

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

Pair trade with an 8% target-return amid significant deviation of the price ratio between Inpex Corp and NGK Insulators. Opportunity for...

Gaudenz Schneider

Long Inpex (1605 JP) Vs. Short Nippon Electric Glass (5214 JP): Statistical Arbitrage Targeting 7%

Inpex vs. Nippon Electric Glass price ratio signals a ~7% relative value pair trade to the one-standard-deviation line, ideal for quant traders...

Gaudenz Schneider

SBI Shinsei Bank IPO Trading - Strong Demand, Peers Mini-Rally Will Help

SBI Shinsei Bank (8303 JP), a Japanese financial institution, raised around US$2.1bn in its Japan listing. In this note, we talk about the trading...

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Tokuyama (4043 JP) Vs. Inpex Corp (1605 JP): Statistical Arbitrage Targeting 12%

Pair trade with a 12% target-return amid significant dislocation of Inpex and Tokuyama. Essential for quantitative traders seeking mean-reversion...

Gaudenz Schneider

ARE Holdings (5857): Green Gold and Urban Mine

​ARE Holdings specializes in recycling and selling precious metals like gold, playing a crucial role in the urban mining and semiconductor supply...

Henry Soediarko

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

Pair trade with an 8% target-return amid significant deviation of the price ratio between Inpex Corp and NGK Insulators. Opportunity for...

Gaudenz Schneider

Long Inpex (1605 JP) Vs. Short Nippon Electric Glass (5214 JP): Statistical Arbitrage Targeting 7%

Inpex vs. Nippon Electric Glass price ratio signals a ~7% relative value pair trade to the one-standard-deviation line, ideal for quant traders...

Gaudenz Schneider

SBI Shinsei Bank IPO Trading - Strong Demand, Peers Mini-Rally Will Help

SBI Shinsei Bank (8303 JP), a Japanese financial institution, raised around US$2.1bn in its Japan listing. In this note, we talk about the trading...

Sumeet Singh

ARE Holdings specializes in recycling and selling precious metals like gold, playing a crucial role in the urban mining and semiconductor supply...