We examine whether hedging effectiveness is affected by asymmetry in the return distribution by applying tail specific … metrics to compare the hedging effectiveness of short and long hedgers using Oil futures contracts. The metrics used include … of hedging strategies including OLS and both Symmetric and Asymmetric GARCH models. Our findings show that asymmetry …

Mixed results have been documented for the performance of hedging strategies using futures. This paper reinvestigates … hedging performance of short and long hedgers using traditional variance based approaches together with modern risk management … using these metrics to evaluate hedging performance, yields differences in terms of best hedging strategy as compared with …