讲义中Market-neutral strategies have a limited upside in a bull mar

NO.PZ2019012201000078 问题如下 Whiof following two statements are correregarng on inherent limitations of Market-neutrstrategies?Statement 1: Practically speaking, it is no easy task to maintain a beta of zero. Statement 2:Market-neutrstrategies have a limiteupsi in a bull market unless they are “equitize” A.Statement 1 B.Statement 2 C.Both Market-neutrstrategies have two inherent limitations:1 Practically speaking, it is no easy task to maintain a beta of zero. Not all risks cefficiently hee ancorrelations between exposures are continually shifting.2 Market-neutrstrategies have a limiteupsi in a bull market unless they are “equitize” Some investors, therefore, choose to inx their equity exposure anoverllong/short strategies. In this case, the investor is not abanning equity-like returns anis using the market-neutrportfolio overlay.Therefore, both of the statements are correct. 老师，请问equitize是什么意思？上课的时候好像没有听到老师提起。要么我miss了。牛市的时候，market-neutral会带来有限的收益，这个我是明白的，因为风险对冲，β=0，不受市场涨幅的影响，所以牛市也和这个策略没关系。是这样理解吧？麻烦下unless they are equitize，谢谢。

NO.PZ2019012201000078 问题如下 Whiof following two statements are correregarng on inherent limitations of Market-neutrstrategies?Statement 1: Practically speaking, it is no easy task to maintain a beta of zero. Statement 2:Market-neutrstrategies have a limiteupsi in a bull market unless they are “equitize” A.Statement 1 B.Statement 2 C.Both Market-neutrstrategies have two inherent limitations:1 Practically speaking, it is no easy task to maintain a beta of zero. Not all risks cefficiently hee ancorrelations between exposures are continually shifting.2 Market-neutrstrategies have a limiteupsi in a bull market unless they are “equitize” Some investors, therefore, choose to inx their equity exposure anoverllong/short strategies. In this case, the investor is not abanning equity-like returns anis using the market-neutrportfolio overlay.Therefore, both of the statements are correct. No.PZ2019012201000078 (选择题)第2点陈述，市场中性策略在牛市中是limiteupsi potential。按照市场中性策略的特点，系统性风险β=0，也即不随市场涨跌。那么limiteupsi potential的说法其实是不对的或者不准确的，应该是没有upsi的能力。为什么这个理解不对呢？

NO.PZ2019012201000078 问题如下 Whiof following two statements are correregarng on inherent limitations of Market-neutrstrategies?Statement 1: Practically speaking, it is no easy task to maintain a beta of zero. Statement 2:Market-neutrstrategies have a limiteupsi in a bull market unless they are “equitize” A.Statement 1 B.Statement 2 C.Both Market-neutrstrategies have two inherent limitations:1 Practically speaking, it is no easy task to maintain a beta of zero. Not all risks cefficiently hee ancorrelations between exposures are continually shifting.2 Market-neutrstrategies have a limiteupsi in a bull market unless they are “equitize” Some investors, therefore, choose to inx their equity exposure anoverllong/short strategies. In this case, the investor is not abanning equity-like returns anis using the market-neutrportfolio overlay.Therefore, both of the statements are correct. 还是不是很理解为什么statement 2是对的

NO.PZ2019012201000078 问题如下 Whiof following two statements are correregarng on inherent limitations of Market-neutrstrategies?Statement 1: Practically speaking, it is no easy task to maintain a beta of zero. Statement 2:Market-neutrstrategies have a limiteupsi in a bull market unless they are “equitize” A.Statement 1 B.Statement 2 C.Both Market-neutrstrategies have two inherent limitations:1 Practically speaking, it is no easy task to maintain a beta of zero. Not all risks cefciently hee ancorrelations between exposures are continually shifting.2 Market-neutrstrategies have a limiteupsi in a bull market unless they are “equitize” Some investors, therefore, choose to inx their equity exposure anoverllong/short strategies. In this case, the investor is not abanning equity-like returns anis using the market-neutrportfolio overlay.Therefore, both of the statements are correct. 老师请问Statement 2如何理解呢？Statement 2:Market-neutrstrategies have a limiteupsi in a bull market unless they are “equitize”

NO.PZ2019012201000078 问题如下 Whiof following two statements are correregarng on inherent limitations of Market-neutrstrategies?Statement 1: Practically speaking, it is no easy task to maintain a beta of zero. Statement 2:Market-neutrstrategies have a limiteupsi in a bull market unless they are “equitize” A.Statement 1 B.Statement 2 C.Both Market-neutrstrategies have two inherent limitations:1 Practically speaking, it is no easy task to maintain a beta of zero. Not all risks cefciently hee ancorrelations between exposures are continually shifting.2 Market-neutrstrategies have a limiteupsi in a bull market unless they are “equitize” Some investors, therefore, choose to inx their equity exposure anoverllong/short strategies. In this case, the investor is not abanning equity-like returns anis using the market-neutrportfolio overlay.Therefore, both of the statements are correct. 如果用衍生去overlay，例如买股指期货，这种不会影响β导致β↑吗？为什么