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[CFA Level 3] 三级第五卷133页请教一些问题

Indices are value weighted may take on the return characteristics of the best performing hedge fund.为什么?

Unstable standard deviation may result in measured correlation being lower than expected. Why?

the first one you can find the explanation in the book.

2 the correlation conditioned on high volatility may produce an under- or over-estimation.

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