Course · Intermediate - Relative Value Research

Learning outcomes

• Define an economically coherent relative value question
• Align series, corporate actions and trading calendars correctly
• Test relationship stability before drawing conclusions
• Document costs and failure modes of a relative value idea

Relationships between assets can be useful research inputs, but they are not automatic trading rules. This course centers on the analysis that comes first.

What the module covers

• Economic links, spreads and normalization choices
• Data alignment and corporate-action adjustments
• Stability tests, transaction assumptions and diagnostics
• Writing a balanced research conclusion