What is cash neutral alphas? Means the cash holding percentage equal to benchmark ? Or means the cash holding is zero?

What is pairs trading?

Why is it mostly impact to out of the money option?

老师，这个175题不太明白，求解

What is mean by “ the percentage change in correlation volatility prior to recession was negative”? Does it mean the 相關性是負相關?

When market is in recession, why is the spread in mezzanine will decrease and correlation will decrease also? And why is the spread in equity will increase? If the spread increase and the price of equity will also reduce, and when we short the equity we should have gain instead of loss right during the recession time? Could you explain all these in Chinese?

请问在讲义的哪一章节，没印象有讲过

Yellow highlights part - why increase in correlation will increase the variance ?

Conditional coverage and unconditional coverage 差別在那裏?

救救孩子吧，这道题不会做，能讲讲思路和解题过程吗，谢谢ε٩(๑⌓̈๑)۶з