Current location - Trademark Inquiry Complete Network - Futures platform - When the portfolio is inconsistent with the 300 index, what are the risks of using the Shanghai and Shenzhen 300 stock index futures to hedge?
When the portfolio is inconsistent with the 300 index, what are the risks of using the Shanghai and Shenzhen 300 stock index futures to hedge?
If the stock portfolio you invest in is exactly the same as the 300 portfolio, it's just arbitrage. If you have confidence in the company's fundamentals and long-term development and the long-term trend of the company's stock price, then hedging stock index futures can remove the systemic risk of the market, that is, β, and only after you buy stocks can you get income, that is, α (this explanation is more popular).