NO.PZ2023040401000062
问题如下：
Which of the following statements is least accurate concerning differences in the pricing of forwards and futures?
选项：
A.Differences in the pattern of cash flows of forwards and futures can explain pricing differences.
Pricing differences can arise if futures prices and interest rates are uncorrelated.
Interest rate volatility can explain pricing differences
解释：
If futures prices and interest rates are uncorrelated, the prices of forwards and futures will be identical.
负相关的时候，
理论上，再投资收益低，所以倾向于foward
但是实际上，再投资收益低，投资者也会选择不去再投资，因此就和foward没啥差了是吗
所以价格difference主要是因为correlated，再投资收益高，产生的价格区别大
可以这样理解不
