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 twelve pair trade opportunities across three markets and five 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 twelve pair trade opportunities across three markets and five 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 (24 Nov)

<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 ten 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 ten 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 (17 Nov)

<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 14 pair trade opportunities across four markets and five 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 14 pair trade opportunities across four markets and five 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 (10 Nov)

<ul>
<li>
Context: The <a href="https://www.smartkarma.com/entities/hdfc-bank-ltd-4b6b7a92-9087-468d-9dbe-ab169e77f014" target="_blank" data-smartkarma-citation="entities:558:1" rel="noopener">HDFC Bank (HDFCB IN)</a> vs. <a href="https://www.smartkarma.com/entities/union-bank-of-india" target="_blank" data-smartkarma-citation="entities:546:1" rel="noopener">Union Bank Of India (UNBK IN)</a> price-ratio has deviated more than two standard deviations from its average, presenting a potential relative value opportunity.</li>
<li>
Highlights: Going long HDFC Bank (HDFCB IN) and short Union Bank of India (UNBK IN) targets an 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 HDFC Bank (HDFCB IN) vs. Union Bank Of India (UNBK IN) price-ratio has deviated more than two standard deviations from its average, presenting a potential relative value opportunity.

Highlights: Going long HDFC Bank (HDFCB IN) and short Union Bank of India (UNBK IN) targets an 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.


HDFC Bank (HDFCB IN) Vs. Union Bank Of India (UNBK IN): Pair Trade in Indian Banks Targeting 8%

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul><li>Maruti Suzuki: Maruti Suzuki’s (MSIL) Q2FY26 EBITDA margin at 10.5% was in line with Bloomberg consensus estimate of 10.6%, but above our estimate of 10.2%</li><li>We expect margins to improve going forward as capacity utilization improves on the back of higher PV demand, ramp-up of the Victoris model, and increasing exports</li><li>We expect exports to continue to do well over the medium term, benefitting from the company’s efforts over the last few years to improve penetration across markets, including developed markets, and with a wider portfolio and improving mix</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Maruti Suzuki: Maruti Suzuki’s (MSIL) Q2FY26 EBITDA margin at 10.5% was in line with Bloomberg consensus estimate of 10.6%, but above our estimate of 10.2%We expect margins to improve going forward as capacity utilization improves on the back of higher PV demand, ramp-up of the Victoris model, and increasing exportsWe expect exports to continue to do well over the medium term, benefitting from the company’s efforts over the last few years to improve penetration across markets, including developed markets, and with a wider portfolio and improving mixContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HSIE Results Daily: Maruti Suzuki, Bank of Baroda, Union Bank of India, Phoenix Mills...

India

Union Bank of India Limited provides a full range of banking services throughout India. The Company's activities include retail banking, commercial and personal banking, investment management, treasury and NRI services, cash management and assorted ATM facilities. Union Bank has an online tele-banking facility for all its core banking customers.

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Union Bank Of India (UNBK IN)

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (24 Nov)

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

Gaudenz Schneider

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (17 Nov)

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

Gaudenz Schneider

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (10 Nov)

Statistical methodology identifies 15 pair trade opportunities across four markets and five sectors, offering unique insights into relative value.

Gaudenz Schneider

HDFC Bank (HDFCB IN) Vs. Union Bank Of India (UNBK IN): Pair Trade in Indian Banks Targeting 8%

Pair trade with an 8% target-return amid significant deviation of the price-ratio between HDFC Bank and Union Bank of India. Ideal for quantitative...

Gaudenz Schneider

HSIE Results Daily: Maruti Suzuki, Bank of Baroda, Union Bank of India, Phoenix Mills...

Maruti Suzuki: Maruti Suzuki’s (MSIL) Q2FY26 EBITDA margin at 10.5% was in line with Bloomberg consensus estimate of 10.6%, but above our estimate...

HDFC Securities

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (24 Nov)

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

Gaudenz Schneider

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (17 Nov)

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

Gaudenz Schneider

Relative Value Opportunities in Asia-Pac, Pair Trade Roundup (10 Nov)

​Statistical methodology identifies 15 pair trade opportunities across four markets and five sectors, offering unique insights into relative value.

Gaudenz Schneider

HDFC Bank (HDFCB IN) Vs. Union Bank Of India (UNBK IN): Pair Trade in Indian Banks Targeting 8%

Pair trade with an 8% target-return amid significant deviation of the price-ratio between HDFC Bank and Union Bank of India. Ideal for quantitative...

Gaudenz Schneider

HSIE Results Daily: Maruti Suzuki, Bank of Baroda, Union Bank of India, Phoenix Mills...

Maruti Suzuki: Maruti Suzuki’s (MSIL) Q2FY26 EBITDA margin at 10.5% was in line with Bloomberg consensus estimate of 10.6%, but above our estimate...

HDFC Securities

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

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

Statistical methodology identifies 15 pair trade opportunities across four markets and five sectors, offering unique insights into relative value.