在active risk and active share的哪个章节，讲义里有一张图，横坐标是acitve risk，纵坐标是active share
请问 factor neutral and diversified stock picks 比 closet indexing的active share高是怎么解释呢？
按照前页ppt的说法，if the factor exposure is fully neutralized, the active risk will be entirely attributed to active share。老师说factor投的分散，那么相关系数带来的active risk就没有了，那么active risk 主要来自于 active share带来的权重的不同，所以就是选股有区别，所以active share会高于closet indexing?
