建议风险奇偶校验是造成股市的抛售，本周是根据AQR资本管理公司联合创始人克里夫·阿斯内斯“胡说”。
“是的，这是来此;他们已经驱使我发誓像窈窕奶爸“，Asness中写道：博客文章2月7日他在回应一个谁声称最近的波动“评论家军团”是像以下风险奇偶校验和趋势系统策略的结果 - 该类型的用于该AQR是已知的策略。
While Asness admitted that it’s “not unreasonable” to conclude that a strategy designed to target volatility or follow trends is likely to sell off during market losses, he argued that there were not enough assets invested in risk-parity and trend-following funds for them to be the cause of market turbulence. In short, the machines aren't to blame.
“If they just want to make accusations with nothing to support them, then they’re just irresponsible yentas throwing shade they can’t back up,” Asness said of market commentators.
要备份自己的看法，Asness指出，研究从他的“远不如好战和尖刻”的同事迈克尔门德尔松，谁是AQR的风险平价策略的投资组合经理。
[II Deep Dive:AQR的Asness呼吁纽约州州长一“说谎神偷”]
据门德尔松，风险奇偶资金只占约十亿$全球70股票，大多是在指数期货的形式。
“It is very unlikely that more than a small fraction of that would be sold, even if very high volatility continues for a while,” he wrote in his own博客文章February 7. “With their total equity holdings summing to only about 10 percent of one day’s global market volume, it would be very difficult to imagine risk parity managers ever selling more than a low single-digit percentage of a day’s volume even if they went mad; they just don’t hold enough stock.”
As for trend-following strategies, which Mendelson estimated also held about $70 billion, the AQR partner said that these trades, while “very likely to be larger than risk parity trades,” would still be too small to represent more than a single-digit percentage of any day’s market volume.
“这需要非常多的移动大全球股市和大小和风险均等和趋势跟踪策略，只是不明白你在那里的交易速度，”他说。“我们不知道是什么原因造成市场抛售，但我们知道，再次，它是不是‘机器’。”