问题
单项选择题
An analyst does research about hedge funds. The returns from hedge funds that contain infrequently traded assets most likely exhibit a downward bias with respect to correlations with:
A. both conventional equity returns and conventional fixed income returns.
B. conventional equity returns but not with conventional fixed income retums.
C. conventional fixed income returns but not with conventional equity returns.
答案
参考答案：A
解析： 由于对冲基金对业绩披露的要求并不严格，而对冲基金持有交易并不活跃的资产，此时无法得到该资产真实的市场价格，往往需要通过估计得到，而估计会使得资产价格有平滑的趋势，并不能真实反映出最新最真实的市场价格，因此所得出的对冲基金收益率与传统的股票和固定收益产品收益率的相关性降低。
