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Commodities as inflation hedge and their importance in portfolios
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This thesis assesses commodities as inflation hedges across regions and periods, focusing on
pre- and post-COVID periods. It examines inflation beta as a key indicator, encompassing
various commodities like energy, metals, grains, and soft commodities. The research reveals
that the effectiveness of commodities as inflation hedges in Europe decreased significantly
post-COVID, while they generally do not serve as hedges in emerging markets but remain
stable in the US. Given these fluctuations, the study recommends strategic portfolio
diversification and adaptation to dynamic market conditions for optimal results with 63.94%
bonds, 28.72% equities, and 7.34% commodities based on a created commodity basket.
Descrição
Palavras-chave
Inflation Hedge Commodities Inflation beta Portfolio allocation Covid-19