Historical Performance of Commodity and Stock Markets

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dc.creatorZapata, Hector O.
dc.creatorDetre, Joshua D.
dc.creatorHanabuchi, Tatsuya
dc.date2017-04-01T19:37:03Z
dc.date.accessioned2026-07-09T06:21:25Z
dc.descriptionThis paper examines two interrelated issues in commodity markets, namely, the cyclical relationship between stocks and commodities and the function of commodity and agribusiness indexes in portfolios. A high negative correlation has existed between stock and commodity prices over the past 140 years. Moreover, the two markets have alternated in price leadership with 29–32-year cycles. The recent price dominance in agricultural commodities started in 2000, a result supported by the empirical results of the portfolio allocation analysis. For a risk-averse investor, irrespective of the period analyzed, placing funds in agribusiness and/or agricultural commodity indexes was sound investing.
dc.identifierdoi:10.22004/ag.econ.130273
dc.identifierhttps://ageconsearch.umn.edu/record/130273/files/jaae443ip6.pdf
dc.identifierhttp://ageconsearch.umn.edu/record/130273
dc.identifier.urihttp://hdl.handle.net/123456789/575547
dc.languageeng
dc.publisher
dc.sourcehttp://ageconsearch.umn.edu/record/130273
dc.titleHistorical Performance of Commodity and Stock Markets
dc.typeText

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