Table 4 Static connectedness results...

Table 4

Static connectedness results (long-term)

	BTM	MKR	POLY	PRO	SNX	ENERGY	AGRICULTURE	LIVESTOCK	METAL	SOFTS	FROM
BTM	28.75	13.56	7.36	8.11	10.33	8.97	6.25	3.13	7.1	6.44	71.25
MKR	11.91	24.34	11.48	7.88	10.79	6.82	9.55	3.36	4.84	9.03	75.66
POLY	7.64	12.54	29.27	11.4	9.63	5.28	7.74	3.69	5.55	7.26	70.73
PRO	7.44	8.34	11.41	30.93	7.35	8.44	5.86	5.99	6.76	7.48	69.07
SNX	10.61	11.81	9.69	7.16	30.05	5.2	8.03	2.73	6.25	8.47	69.95
ENERGY	10.31	8.41	5.45	9.13	6.17	31.7	5.21	6.19	11.1	6.33	68.3
AGRICULTURE	6.22	10.42	8.33	6.34	8.12	5.1	31.01	7.75	7.84	8.89	68.99
LIVESTOCK	3.7	4.71	4.92	7.08	3.78	7.41	8.47	43.38	6.67	9.87	56.62
METAL	7.9	6.39	6.02	6.76	6.45	11.73	8.37	5.77	31.84	8.77	68.16
SOFTS	6.74	9.48	7.36	7.11	9.18	5.51	9.36	8.21	7.7	29.34	70.66
TO	72.47	85.65	72.03	70.96	71.8	64.45	68.83	46.82	63.81	72.56	689.39
Inc.Own	101.22	109.99	101.3	101.89	101.86	96.15	99.84	90.2	95.64	101.9	TCI
NET	1.22	9.99	1.3	1.89	1.86	−3.85	−0.16	−9.8	−4.36	1.9	68.94

	BTM	MKR	POLY	PRO	SNX	ENERGY	AGRICULTURE	LIVESTOCK	METAL	SOFTS	FROM
BTM	28.75	13.56	7.36	8.11	10.33	8.97	6.25	3.13	7.1	6.44	71.25
MKR	11.91	24.34	11.48	7.88	10.79	6.82	9.55	3.36	4.84	9.03	75.66
POLY	7.64	12.54	29.27	11.4	9.63	5.28	7.74	3.69	5.55	7.26	70.73
PRO	7.44	8.34	11.41	30.93	7.35	8.44	5.86	5.99	6.76	7.48	69.07
SNX	10.61	11.81	9.69	7.16	30.05	5.2	8.03	2.73	6.25	8.47	69.95
ENERGY	10.31	8.41	5.45	9.13	6.17	31.7	5.21	6.19	11.1	6.33	68.3
AGRICULTURE	6.22	10.42	8.33	6.34	8.12	5.1	31.01	7.75	7.84	8.89	68.99
LIVESTOCK	3.7	4.71	4.92	7.08	3.78	7.41	8.47	43.38	6.67	9.87	56.62
METAL	7.9	6.39	6.02	6.76	6.45	11.73	8.37	5.77	31.84	8.77	68.16
SOFTS	6.74	9.48	7.36	7.11	9.18	5.51	9.36	8.21	7.7	29.34	70.66
TO	72.47	85.65	72.03	70.96	71.8	64.45	68.83	46.82	63.81	72.56	689.39
Inc.Own	101.22	109.99	101.3	101.89	101.86	96.15	99.84	90.2	95.64	101.9	TCI
NET	1.22	9.99	1.3	1.89	1.86	−3.85	−0.16	−9.8	−4.36	1.9	68.94

Note(s): Results are based on $R^{2}$ model. FROM = spillover from other asset, TO = spillover to other asset, NET = net directional spillover, TCI = total connectedness index

Source(s): Table by authors

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