Fight Finance

(a) Have Sharpe ratios equal to the market’s.

(b) Have Treynor ratios equal to the market's.

(c) Have Jensen’s alphas that are zero.

(d) Not necessarily be bought or sold since there's no gain either way.

(e) Plot on the Security Market Line (SML).

(a) Have Sharpe ratios less than the market’s.

(b) Have Treynor ratios that are negative.

(c) Have Jensen’s alphas that are negative.

(d) Be sold.

(e) Plot below the Security Market Line (SML).