The basis is the amount by which the spot price of the underlying asset exceeds the futures price (S-F). Which of the following statements is correct? When the basis decreases unexpectedly, the position of a long hedger sometimes worsens and sometimes improves. The greater the difference in the futures price and the underlying asset price when the hedge is initiated, the lower the basis risk. Dissimilarity between the expiration of the futures contract and the date of the hedger's underfying exposure, increases basis risk. When the basis decreases unexpectedly, the position of a short hedger stays the same