• 1 Introduction
  • 2 Investments in Commodities
  • 2.1 Commodity Definition
  • 2.2 Energy
  • 2.3 Precious Metals
  • 2.4 Industrial Metals
  • 2.5 Agriculture
  • 2.6 Livestock
  • 2.7 Other Commodities
  • 3 Commodities as an Asset Class
  • 3.1 Benefits of Commodity Investments
  • 3.2 Commodity-Related Investments
  • 4 Investments in Commodity Futures Indices
  • 4.1 Comparative Analysis and Choice of Future-Based Index
  • 4.2 Backwardation and Contango
  • 4.3 Return Sources of Commodity Futures-Based Indices
  • 5 Portfolio Selection Model in Consideration of Commodity-Related Investments
  • 5.1 Idea and Assumptions of Markowitz’s Portfolio Selection Model
  • 5.2 Other Asset Classes and Proxies Used for Modelling
  • 5.3 Empirical Results Risk and Return
  • 5.4 Empirical Correlation Results
  • 5.5 Added Value in μ-s-Framework: Efficient Line and Efficient Portfolios
  • 5.6 Criticism of Standard Deviation as Risk Measure
  • 6 Summary and Outlook
  • REFERENCES