Привожу schedule pair trade Лонг Гапрома и Шорт Сбербанка. As seen on the right side of the curve (bell) распределения. Currently, Gazprom is located in an area of less than 5%, what is of interest, like a long against Sberbank.
It does not mean, that the trade will be successful at once, but throughout 3 months Gazprom can behave better, than Sberbank. If consider, that the market is so far unpredictable and neutral, then this trade can be called to some extent market neutral. Judging by the bottom graph below, potential profit can be substantial.
The schedule is also normalized, that is, it shows 2 parts of Sberbank against 1 parts of Gazprom.
