问题如下：
Initially, Fund ABC held active positions in two realestate stocks—one was overweight by 1 %, and the other was underweight by 1%. Fund ABC traded back to benchmark weights on those two stocks. Then, ABC selected two different stocks that were held at benchmark weights, one automobile stock and one technology stock. ABC over-weighted the automobile stock by 1% and underweighted the technology stock by 1%. What was the effect of ABC’s two trades on its active risk? ABC’s active risk:
选项：
A. decreased.
B. remained unchanged.
C. increased.
解释：
C is correct.
考点：Active Share and Active Risk
解析：主动风险受股票之间相关性的影响。不同行业的两只股票的相关性低于同一行业两只股票的相关性。因此，新头寸（汽车/科技股）的相关性低于初始头寸(房地产/房地产)的相关性。两只股票的相关性较低，两只股票头寸对主动风险的贡献就越大。
没看懂这道题。 第一步把2只房地产的股票全部调回基准，是降低了active risk吧？ 第二部又买了两个不同行业的股票（跟基准一样权重），然后再调偏跟原来同样的偏移度，难道不是应该remain unchanged吗？？