An $80 billion portfolio managed by hedge fund titan Ray Dalio's Bridgewater Associates and widely held by many pension funds slumped in August and some investors blame the strategy of such funds for the eruption in volatility that slammed stocks and commodities.
Analyze the relationship between 'Bridgewater Associates' and 'hedge fund' within the context of the input sentence.
Options: chief executive officer, parent organization, industry, location of formation