Long-short relative trade

Long-Short equity investment strategy where long position is taken for an UPside expected instrument where as SHORT instument is used as to hedge down side risk.
examples:
LONG CNQ/short ES
in example we expect short-term( few hours) bias is CNQ will go up relative to ES,
- in most cases we expect CNQ goes up by say 1% where as OIL down by only 0.2%
- even if CNQ drops it drops much smaller than ES coz CNQ already dropped much relative to S&P ES

ralative position size:

1% value of side 1 = 1% value of side 2
.01 x #of shares x price-of-stock = 1% values of S&P future ES
.01 x N x $25 = say S&P ES is at 1050 , so 1% is 10.5
.01 x N x $25 = 10.5 ES contract points
.01 x N x $25 = 10.5 x $50 ( each point is $50 )
N x 25 = $525 /.01
N = $50000
N = $50,000 / stock-price
N = %50,000 /$25 = 2000
so we need to buy 2000 stocks of $25 stock to make it equal to 1% gain of S&P ES
- if a given stock price is $50 ( like CNQ )then we need only 1000 stocks.
- with 4x margin you need 50 x 1000/4 = $12,500 in account ..

- so for CNQ to do relative trade with S&P ES , you need $15k + $5k(for ES) = 20k account
- then there is pattern day trader rule allows only 3 days/week?