While various direct commodity investment vehicles have existed for decades, only recently has direct commodity investment been seen as an alternative to indirect equity-based investment. With the increasing global demand for commodities, direct commodity investment is now regarded as an essential part of an overall asset allocation decision. In this course, the return and risk characteristics of various commodity indices are reviewed. Most of these commodity indices are directly available in a range of investible products. Results show that traditional market factors have little correlation with a wide variety of commodity sectors (energy, metals and agriculture) and commodities may provide unique stand alone risk and return opportunities as well as additions to portfolios consisting primarily of traditional stock and bond investments. The benefits of commodities as an inflation hedge as well as additional issues in commodity investment are also analyzed.

All materials are included within this online course: the INGARM publication with downloadable charts and graphs as well as links to additional resources. There are no prerequisites: however a basic of understanding of elementary statistics is beneficial. This two hour self-study course will be open for enrollment on a continuous basis, but must be completed before the ending date of the course section chosen to best meet your needs.

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