You have been hired as a researcher in a quantitative hedge fund that until now has only considered equity market strategies. The fund has expanded and intends to develop foreign exchange strategies. Explain at least three well-established strategies - carry, value and order flows and evaluate the performance of these strategies based on how they compare with each other. The exact definition of the strategies is up to you to determine (and explain), you may wish to consider other cross-sectional sort-based strategies and you may want to consider the strategies independently or in combination(s).Finally, how would you expect these strategies to perform in the Covid-crisis.