Managing Director

Elan Gore

TMI Data Science

TMI Data Science utilizes Natural Language Processing to build custom leading indicators using unstructured data sourced from the global financial, trade & traditional media.  Our proprietary software, TMI Machine, is a text-mining platform designed with the buy-side & capital markets professional in mind, text-mining the global media to discern and quantify nuanced qualitative shifts in press coverage as they apply to macroeconomics, equity indexes/ETFs, commodities, currencies, fixed income & individual equities.  TMI provides custom leading indicators and systematic trading strategies, operating at the nexus of linguistics & statistics drawing on vast experience in investment banking and hedge fund settings in senior quantitative and fundamental roles.  

TMI Data Science was founded by Elan Gore, an award-winning Senior Global Basic Materials Equity Analyst & China Economist with 15 years of experience in North American hedge funds & institutional managers; and Alessandro Porrino, Ph.D., an Algorithmic Trading Analyst and Programmer with 10 years of front-office experience ranging from complex FX option pricing to auto-hedging strategies at Bank of America Merrill Lynch and Standard Chartered.  Mr. Gore holds an MBA in Finance from New York University Stern School of Business, and Mr. Porrino holds a Ph.D. in Systems Engineering from Brunel University London.

Cross Asset Strategy

<ul>
<li>After a short period of optimism following the US elections, China-Taiwan tensions are escalating sharply again; we disaggregate the theme into multiple sub-components and geographic sources to find a spike in US coverage of Taiwan tensions at +2x STDEVs, a level last seen over a year ago</li>
<li>The spike in Taiwan coverage has been driven by multiple breaches of Taiwan's Air Defense Identification Zone by Chinese warplanes; a recent warning by US Asia Pacific Commander Philip Davidson that China could invade Taiwan "in the next 6 years"; recent developments in the Quadrilateral Security Dialogue; elevated US-Japan cooperation on "Taiwan emergency"; and a barrage of high-profile op-eds in recent weeks highlighting tensions over Taiwan</li>
<li>While 2020 did not see geopolitical risks factor into the performance of MSCI Taiwan or USD/TWD, the China-Taiwan tensions theme was strongly correlated with performance in 2018-2019</li>
</ul>


After a short period of optimism following the US elections, China-Taiwan tensions are escalating sharply again; we disaggregate the theme into multiple sub-components and geographic sources to find a spike in US coverage of Taiwan tensions at +2x STDEVs, a level last seen over a year ago
The spike in Taiwan coverage has been driven by multiple breaches of Taiwan's Air Defense Identification Zone by Chinese warplanes; a recent warning by US Asia Pacific Commander Philip Davidson that China could invade Taiwan "in the next 6 years"; recent developments in the Quadrilateral Security Dialogue; elevated US-Japan cooperation on "Taiwan emergency"; and a barrage of high-profile op-eds in recent weeks highlighting tensions over Taiwan
While 2020 did not see geopolitical risks factor into the performance of MSCI Taiwan or USD/TWD, the China-Taiwan tensions theme was strongly correlated with performance in 2018-2019


TMI Snapshots:  Taiwan Tensions Rising, Will Geopolitics Return to the Forefront in 2021?

Fixed Income and Currency Strategist

Gautam Jain, PhD, CFA

FX & Rates

In this note, we look at how the intra-regional correlations among EM currencies have evolved and their implications.The attached file is a snapshot of EM currency market, which we produce daily, and where we seek to identify the leaders and laggards among currencies by comparing the performance of each to its history as well as to other currencies based on their respective betas to the broad market. The analysis, therefore, is not a forecasting tool but to be used for identifying dislocations, which we loosely define as price moves that cannot be justified by fundamentals.

In this note, we look at how the intra-regional correlations among EM currencies have evolved and their implications.The attached file is a snapshot of EM currency market, which we produce daily, and where we seek to identify the leaders and laggards among currencies by comparing the performance of each to its history as well as to other currencies based on their respective betas to the broad market. The analysis, therefore, is not a forecasting tool but to be used for identifying dislocations, which we loosely define as price moves that cannot be justified by fundamentals.

FX Dashboard: Digging Deeper into Intra-Regional Correlations

In this note, we examine the rise in cross-correlations among EM currencies and its implications for the asset class.The attached file is a snapshot of EM currency market, which we produce daily, and where we seek to identify the leaders and laggards among currencies by comparing the performance of each to its history as well as to other currencies based on their respective betas to the broad market. The analysis, therefore, is not a forecasting tool but to be used for identifying dislocations, which we loosely define as price moves that cannot be justified by fundamentals.

In this note, we examine the rise in cross-correlations among EM currencies and its implications for the asset class.The attached file is a snapshot of EM currency market, which we produce daily, and where we seek to identify the leaders and laggards among currencies by comparing the performance of each to its history as well as to other currencies based on their respective betas to the broad market. The analysis, therefore, is not a forecasting tool but to be used for identifying dislocations, which we loosely define as price moves that cannot be justified by fundamentals.

FX Dashboard: Rising Correlations Add to Overall Volatility

In this note, we reiterate our recommendation to be long the Polish zloty (PLN) against the Czech koruna (CZK), as the former has underperformed.The attached file is a snapshot of EM currency market, which we produce daily, and where we seek to identify the leaders and laggards among currencies by comparing the performance of each to its history as well as to other currencies based on their respective betas to the broad market. The analysis, therefore, is not a forecasting tool but to be used for identifying dislocations, which we loosely define as price moves that cannot be justified by fundamentals.

In this note, we reiterate our recommendation to be long the Polish zloty (PLN) against the Czech koruna (CZK), as the former has underperformed.The attached file is a snapshot of EM currency market, which we produce daily, and where we seek to identify the leaders and laggards among currencies by comparing the performance of each to its history as well as to other currencies based on their respective betas to the broad market. The analysis, therefore, is not a forecasting tool but to be used for identifying dislocations, which we loosely define as price moves that cannot be justified by fundamentals.

FX Dashboard: Polish Zloty Underperformance Looks Overdone

In this note, we compare and contrast the correction in EM currencies in the current reflationary scare with a similar episode in 2013.The attached file is a snapshot of EM currency market, which we produce daily, and where we seek to identify the leaders and laggards among currencies by comparing the performance of each to its history as well as to other currencies based on their respective betas to the broad market. The analysis, therefore, is not a forecasting tool but to be used for identifying dislocations, which we loosely define as price moves that cannot be justified by fundamentals.

In this note, we compare and contrast the correction in EM currencies in the current reflationary scare with a similar episode in 2013.The attached file is a snapshot of EM currency market, which we produce daily, and where we seek to identify the leaders and laggards among currencies by comparing the performance of each to its history as well as to other currencies based on their respective betas to the broad market. The analysis, therefore, is not a forecasting tool but to be used for identifying dislocations, which we loosely define as price moves that cannot be justified by fundamentals.

FX Dashboard: Taper Tantrum Vs Current Reflationary Scare – Part 1

Taiwan

The New Taiwan dollar is the official currency of Taiwan

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

TWD (USDTWD CURNCY)

TMI Snapshots: Taiwan Tensions Rising, Will Geopolitics Return to the Forefront in 2021?

Quantifying the magnitude of news flow on China-Taiwan tensions, we see a +2x STDEV spike in coverage of the topic. Markets may reassess risks as...

Elan Gore

FX Dashboard: Digging Deeper into Intra-Regional Correlations

Attached is our daily FX Dashboard that helps identify dislocations among EM currencies. In this note, we look at the evolution of intra-regional...

Gautam Jain, PhD, CFA

FX Dashboard: Rising Correlations Add to Overall Volatility

Attached is our daily FX Dashboard that helps identify dislocations among EM currencies. In this note, we discuss the implications of the rise in...

Gautam Jain, PhD, CFA

FX Dashboard: Polish Zloty Underperformance Looks Overdone

Attached is our daily FX Dashboard that helps identify dislocations among EM currencies. In this note, we reiterate our recommendation to be long...

Gautam Jain, PhD, CFA

FX Dashboard: Taper Tantrum Vs Current Reflationary Scare – Part 1

Attached is our daily FX Dashboard that helps identify dislocations among EM currencies. In this note, we compare the correction this year in EM...

Gautam Jain, PhD, CFA

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)