Table 9.

Summary coefficients of time-varying hedging (segment B: December 1, 2019, to May 10, 2020).

	S&P500/GOLD	S&P500/Wheat	S&P500/Beverages
Minimum	−0.044073076	0.173193352	−1.264344925
Mean	0.338279368	1.398702434	−0.107042369
Maximum	4.716066214	15.5890666	0.182535245
	GOLD/S&P500	Wheat/S&P 500	Beverages/S&P500
Minimum	−0.001490486	0.003655792	−0.130678521
Mean	0.01603454	0.081718291	−0.014354809
Maximum	0.080940009	0.30889762	0.036688718

See notes to Table 8.