Arbitrage strategies include convertible bond arbitrage, spot arbitrage of stock index futures, intertemporal arbitrage, ETF arbitrage and so on. , are the most traditional hedging strategies. Its essence is the application of the "one-price principle" in the pricing of financial products, that is, when there are pricing differences between different manifestations of the same product, buy relatively undervalued varieties and sell relatively overvalued varieties to obtain the intermediate price difference income. So the risk of arbitrage strategy is the smallest, and some strategies are called "risk-free arbitrage".

2. Annual Alpha Distribution of Index Enhanced Portfolio+Index Futures in Short-term Rolling

Statistical arbitrage performance based on 90 securities margin targets

3. Alpha strategy: Turn relative income into absolute income.

4. Neutral strategy: Starting from the dimension of eliminating β.

Market neutrality strategy can be simply divided into statistical arbitrage and fundamental neutrality, trying to build a long-short combination to avoid risk exposure while pursuing absolute returns. The establishment of bulls and bears is no longer isolated or even synchronized. The bulls and bears are strictly matched to build a market neutral combination. Therefore, the income comes from stock selection, regardless of the market direction-that is, pursuing absolute income (Alpha) without taking market risk (Beta).