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A negative information ratio implies the standard deviation of the index is less than the standard deviation of the benchmark. the return of the portfolio

A negative information ratio implies

the standard deviation of the index is less than the standard deviation of the benchmark.

the return of the portfolio is less than the return of the benchmark.

the standard deviation of the benchmark is less than the standard deviation of the portfolio.

the information ratio cannot have a negative value.

the return of the benchmark is less than the return of the portfolio.

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