If the Minimum-Variance Hedge Ratio Is $- 1$ , Then Which of the Following Statements Is True?
A)

Multiple Choice

If the minimum-variance hedge ratio is $- 1$ , then which of the following statements is true?

A) Changes in spot and futures prices are perfectly negatively correlated.
B) The standard deviations of spot and futures price changes are the same.
C) The minimum-variance hedge for a long spot exposure is a short futures exposure of the same size.
D) All of the above.