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Sortino Ratio

A risk-adjusted return measure that quantifies the return generated by a hedge fund for each unit of risk it takes....

Directional Hedge Fund

A hedge fund that doesn't hedge, whether partially or fully. A directional fund maintains some exposure to the market without...

Sharpe Ratio

A risk-adjusted return measure that quantifies the return generated by a hedge fund for each unit of risk it takes....

Pure Alpha Fund

A hedge fund that aims to generate a stable return regardless of market performance. In other words, it is designed...

Zero-Cost Option

An options trading strategy which is arranged such that the premium received from an option sold (short option) compensates for...

Xerxes

A tool that measures the sensitivity of convexity of duration or modified duration to a change in yield. It could...

TAR Swap

It stands for target redemption swap: a swap- or virtually a series of forward contracts- whereby the agreement terminates when...

Target Redemption Swap

A swap- or virtually a series of forward contracts- whereby the agreement terminates when the total sum of the positive...

Cross Hedge

The hedge that involves using a cash (spot) commodity or security with a futures contract where the underlying commodity is...

Direct Hedge

A hedge transaction that, as opposed to a indirect hedge (dirty hedge or proxy hedge), involves establishing two directionally opposite...