The frequent occurrence of political events, the spread of the epidemic and changes in policies of various countries have made the market more volatile. Due to the instability of the overall economic environment, investors are increasingly focusing on using strategies to improve returns, so this article selects several hedge fund trading strategies, analyzes the same trading portfolio, and compares the performance of different trading portfolios. Different effects of the same combination give spirits to investors when making transactions. The market neutral trading strategy is effective for the trading combination of F and NVDA. Based on different data, the long-short equity trade strategies are not completely effective, and the credit arbitrage trade strategy is not suitable for this trading combination. Market neutral trading strategies and long-short equity trade strategies basically meet the combination of F and NVDA, but due to the possibility of credit rating fluctuations, credit arbitrage trade strategy does not meet this combination. These different effects reflect some of the underlying factors in the market, so the analysis in this article will improve investors' understanding of investment strategies and change their previous trading thoughts. Taking these effects into consideration can help investors effectively avoid potential risks, make better choices, or obtain more returns.