Prado, MelissaBiewald, David Benedikt2024-12-062024-12-062024-01-172023-12-20http://hdl.handle.net/10362/176274This 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.engInflationHedgeCommoditiesInflation betaPortfolio allocationCovid-19master thesis203680952