Hedge fund alpha and beta??

What the hell is this??? Can some smart guy please explain.

“Hedge fund performance can be dynamic: Hedge fund performance is not static: beta exposures, volatility, and correlations change over time. Furthermore, most hedge fund styles have negative asymmetrical beta exposures, meaning that correlations increase during market downturn and decrease during upturns. Some hedge fund strategies such as dedicated short bias and managed futures have exhibited attractive (positive) asymmetrical beta exposures, wherein betas increase during market upturns and decrease during downturns.”

Schweser book 4