The equity REIT return index is from the REIT Handbook (NAREIT, 1994). The real
estate return index and the apartment return index are the Russell-NCREIF total return
index and its apartment subindex, respectively. The S&P 500 return index, the bond
return index (long-term government), and the one-month T-bill return index are from
Ibbotson Associates (1994). Indices for the S&P 500, bond, real estate, apartment real
estate, equity REITs, and apartment REITs represent total returns.
    Three hedged REIT indices are constructed from the monthly equity REIT and
apartment REIT indices. The hedged equity REIT index (HEREIT) is the equity REIT
index hedged against the S&P 500 index. The hedged apartment REIT index (HAREIT)
is the apartment REIT index hedged against the S&P 500 index. The double-hedged
apartment REIT index (HHAREIT) is the apartment REIT index hedged against both
the S&P 500 index and the equity REIT index.

请高人帮忙翻译一下，特别是红字标出的这么多指数，到底有什么区别啊，有些指数前面加return，有些不加，区别大伐？我是学财务的，所以对金融中的reits不太了解，忘高手帮忙。谢谢。

还有这句是什么意思。A rolling regression with a forty-eight-month window
is used to compute one-month-ahead hedge ratios.是关于计量的。

[此贴子已经被作者于2008-11-3 22:41:00编辑过]