Boyson, Nicole M.; Stahel, Christof W.; Stulz, Rene M. - Charles A. Dice Center for Research in Financial … - 2006
financial markets and within the hedge fund sector.
Studies have shown that hedge fund returns do not follow a normal … hedge funds to risk factors.
A number of studies, including Fung and Hsieh (1997, 1999, 2001), Brown, Goetzmann and … the relationship between hedge fund returns and broad market returns. The studies
that focus on linear measures of …