<t>As always, thanks a lot for your answer. Now, if we go back to the case of a tradable asset C (which is driven by V_t and S_t):[$]minVar_t(C(S_t,V_t) - hS_t) [$]we have variance and covariance terms:[$]Var_t(C(S_t,V_t) - hS_t) = Var_t(C) + Var(hS)+ 2Cov(C,hS) [$]I wonder under which measure one h...