Publicação

Fundamental pairs trade of Adidas and Puma - macroeconomic and industry analyses

Detalhes bibliográficos
Resumo:	This thesis explores a fundamental pairs trade strategy of adidas and PUMA. Macroeconomic and industry analyses highlight regional economic trends, inflation, and demographic shifts impacting both companies. The expanding global sportswear market, driven by Emerging Markets, athleisure demand, and sustainability trends, faces external and sector specific challenges, requiring strategic adaptation to maintain competitiveness. The valuation emphasizes PUMA’s undervaluation and growth potential versus adidas’ overvaluation and higher risk. The long PUMA, short adidas strategy proves robust, offering investors a promising opportunity for risk reduction and relative returns.
Autores principais:	Kreitz, Laura
Assunto:	Fundamental Pairs Trade Adidas PUMA Global economy Macroeconomic indicators Global sporting goods industry Market drivers and trends Competition Product segmentation Athleisure Company valuation Discounted cash flow Scenario analysis Risk management Investment proposition
Ano:	2025
País:	Portugal
Tipo de documento:	dissertação de mestrado
Tipo de acesso:	acesso aberto
Instituição associada:	Universidade Nova de Lisboa
Idioma:	inglês
Origem:	Repositório Institucional da UNL

Descrição
Resumo:	This thesis explores a fundamental pairs trade strategy of adidas and PUMA. Macroeconomic and industry analyses highlight regional economic trends, inflation, and demographic shifts impacting both companies. The expanding global sportswear market, driven by Emerging Markets, athleisure demand, and sustainability trends, faces external and sector specific challenges, requiring strategic adaptation to maintain competitiveness. The valuation emphasizes PUMA’s undervaluation and growth potential versus adidas’ overvaluation and higher risk. The long PUMA, short adidas strategy proves robust, offering investors a promising opportunity for risk reduction and relative returns.