Question: Which statement about active risk is correct: 1;active risk is the standard deviation of the excess return of a portfolio over a benchmark 2;active risk

Which statement about active risk is correct:

1;active risk is the standard deviation of the excess return of a portfolio over a benchmark

2;active risk is relevant for passive fund

3;active risk is the numerator in the information ratio

4;active risk is not relevant for an active fund

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