GHT 是fairly valued

问题如下：

Gary uses a hypothetical example of a pairs trade to demonstrate how an investor could create a market-neutral strategy. Gary bases his example on two stocks: DTY and GHT. These stocks are peers in a competitive industry, and have a high historical correlation and similar historical betas. Recently, the performance of these two stocks has deviated considerably. Share prices of DTY have risen sharply and are considered by most analysts to be overvalued. Share prices of GHT have also risen, but are considered fairly valued.Which of the following strategy combining these two stocks could be protected from general market movement.

选项：

A.Long DTY and short GHT

B.Short DTY and long GHT

C.Short DTY and short GHT

解释：

The pairs trade would include shorting the overvalued company, DTY, and purchasing an equal amount of the fairly valued company, GHT. Based on historical trends, these two stocks should converge in the future, at which time the profit of the strategy would be based on the amount of convergence.

题目中是希望通过paris trade得方式来构建一个market-neutral策略，DTY和GHT是同一行业得对标公司，当前市场中，DTY被高估，GHT被低估，未来两个公司的股价还是会趋同的，所以就要short高估的DTY，long低估的GHT。