请问c怎么理解，涨多跌少的话return确实比benchmark高，是因为题目说的all market condition太绝对了吗？

问题如下：

4 Based on Exhibit 1, the capture ratios of the portfolio indicate:

选项：

a concave return profile.

positive asymmetry of returns.

that the portfolio generates higher returns than the benchmark during all market conditions.

解释：

B is correct.

The upside/downside capture, or simply the capture ratio (CR), is the upside capture ratio divided by the downside capture ratio.
(Upside capture)/(Downside capture) = 0.66/0.50 = 1.32.
A capture ratio greater than 1 indicates positive asymmetry of returns, or a convex return profile.