Question: Using a four-factor model that is expanded from Fama-French three-factor model by adding a Momentum factor, please evaluate the performance of HFRI equity hedge total

Using a four-factor model that is expanded from Fama-French three-factor model by adding a Momentum factor, please evaluate the performance of HFRI equity hedge total return index and the DELTA strategy. Interpret your regression results. Do they outperform? What are their exposures to market, size, value and momentum factor

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