There are Long and Short trading strategies, a type of pairs trade, that can be considered statistical arbitrage once there is as expectation of a quantitative model showing the existence of statistical mispricing between one or two of the pairs assets that are co-integrated in a mean reversal structure in the long run. This study intends to show this pairs trading model with co-integrated stocks and to infer if this model can be traded profitably in real market conditions, comparing its performance with the fixed income benchmark in Brazil.