Comprised of three information-packed parts, Pairs Trading presents an in-depth look at the various aspects of these strategies and provides quantitative tools to assist in their analysis. The first part of this comprehensive resource sets the context for the rest of the book by introducing preliminary material on some key topics, including time series, factor models, and Kalman filtering.
After presenting the broad ideas and concepts of this trading method, Pairs Trading delves into two different versions of pairs trading in the equity markets--statistical arbitrage pairs trading and risk arbitrage. Part II of this book details statistical arbitrage pairs trading, which is a relative value arbitrage on two securities based on the premise that there is a long-run equilibrium between the prices of the stocks comprising the pair. Part III moves on to illustrate the trading techniques and strategies associated with risk arbitrage--the widely practiced arbitrage technique that involves pairs trading arising in the context of corporate events, especially mergers and acquisitions.

Written in a straightforward and accessible style, Pairs Trading provides a framework that will allow you to boost the bottom line of any portfolio.

Pairs Trading由三个信息打包的部分组成，深入研究了这些策略的各个方面，并提供了定量工具来帮助进行分析。本综合资源的第一部分通过介绍一些关键主题的初步材料，包括时间序列、因子模型和卡尔曼滤波，为本书的其余部分设置了背景。
在介绍了这种交易方法的基本思想和概念之后，Pairs trading深入研究了股票市场中Pairs交易的两个不同版本——统计套利Pairs trading和风险套利。本书的第二部分详细介绍了统计套利对交易，这是一种相对价值套利对两种证券的前提下，有一个长期均衡的价格之间的股票组成的对。第三部分接着阐述了与风险套利相关的交易技术和策略，这是一种广泛使用的套利技术，涉及在公司事件，特别是合并和收购的背景下产生的成对交易。
Pairs Trading以简单易懂的风格编写，它提供了一个框架，允许您提高任何投资组合的底线。