NO.PZ201809170400000506
问题如下：
As a result of Fund 3’s two trades, the portfolio’s active risk most likely:
选项：
A.decreased.
B.remained unchanged.
C.increased.
解释：
C is correct. Active risk is affected by the degree of cross-correlation. The correlation of two stocks in different sectors is most likely lower than the correlation of two stocks in the same sector. Therefore, the correlation of the energy/financial pair is most likely lower than that of the automobile/automobile pair. Because both positions were implemented as an overweight and underweight, the lower correlation of the two stocks in the new position should contribute more to active risk than the two-stock position that it replaced.
关于trade 1
相同行业的两支股票，一个多买1%，另一个少买1%。如果portfolio 和bench market 只点不同。那么active risk 应该是很小的，而active share应是 1%？
这么理解对吗
