问题如下图：
选项：
A. 
B. 
C. 
企鹅_品职助教 · 2019年03月11日
两只变动的股票相反的方向变化，如果这两只股票之间的correlation很大，那么整个portfolio并没有实质上的变化。如果这两只股票correlation很低，说明是两只方向完全不同的股票，那么他们向相反的方向变化，对整个portfolio的volatility的影响就是significant的，因此active risk 变大。
Tareina · 2019年03月11日
呵呵 你说的不是很理解 不过我自己想通了。这里correl越低，那么对于energy/fianancial的组合来说，方向相反造成的risk diversification越低。correl越大的组合，当头寸相反时，这个效应越大。
蜗牛果果 · 2019年03月19日
那两只automobile股票一增一减对active risk的影响是抵消的吗？
lman · 2021年04月17日
说错了吧？
NO.PZ201809170400000506 问题如下 a result of Fun3’s two tras, the portfolio’s active risk most likely: crease remaineunchange increase C is correct. Active risk is affectethe gree of cross-correlation. The correlation of two stocks in fferent sectors is most likely lower ththe correlation of two stocks in the same sector. Therefore, the correlation of the energy/financipair is most likely lower ththof the automobile/automobile pair. Because both positions were implementeoverweight anunrweight, the lower correlation of the two stocks in the new position shoulcontribute more to active risk ththe two-stoposition thit replace 关于tra 1相同行业的两支股票，一个多买1%，另一个少买1%。如果portfolio 和benmarket 只点不同。那么active risk 应该是很小的，而active share应是 1%？这么理解对吗
NO.PZ201809170400000506 问题如下 a result of Fun3’s two tras, the portfolio’s active risk most likely: crease remaineunchange increase C is correct. Active risk is affectethe gree of cross-correlation. The correlation of two stocks in fferent sectors is most likely lower ththe correlation of two stocks in the same sector. Therefore, the correlation of the energy/financipair is most likely lower ththof the automobile/automobile pair. Because both positions were implementeoverweight anunrweight, the lower correlation of the two stocks in the new position shoulcontribute more to active risk ththe two-stoposition thit replace reviews quarterly holngs reports for Fun3. In comparing the two most recent quarterly reports, he notices fferences in holngs thincate thFun3 executetwo tras, with eatra involving pairs of stocks. Initially, Fun3 helactive positions in two automobile stocks—one woverweight 1 percentage point (pp), anthe other wunrweight 1pp. Fun3 trabato benchmark weights on those two stocks. In the secontra, Fun3 selectetwo fferent stocks thwere helbenchmark weights, one energy stoanone financistock. Fun3 overweightethe energy sto1pp anunrweightethe financisto1pp.我看老师说行业集中度的解答是理解的，但是这一段怎么体现通过主动调仓来实现行业集中度的变化？
NO.PZ201809170400000506