Kaffel, Rania Hentati; Peretti, Philippe De - HAL - 2014
relative returns of hedge funds. Runs tests are implemented on a universe of hedge extracted from HFR database over the period … spanning January 2000 to December 2012. Our findings suggest that i) For about 80% of the funds, we fail to reject the null of … randomness of returns, ii) A similar ...gure is found out when focusing on relative returns, iii) Hedge funds that do present …