Identifying Relative Value Hedge Fund Strategy

Relative value strategies are a crucial component of hedge fund investing, aiming to exploit pricing inefficiencies between related financial instruments. Investors using relative value strategies seek to profit from the price differential of correlated assets while minimizing market risk. An example of a relative value strategy is the long/short equity approach, where an investor takes long positions in undervalued stocks and short positions in overvalued ones.

Which of the following strategies specifically falls under the category of relative value?