Table 1 Descriptive statistics of log returns from January 1995 till December 2015

Statistic

EU butter

Oceania butter

Crude palm oil

Crude oil Brent

Mean

−0.20 %

0.25 %

−0.32 %

0.93 %

Std

2.71 %

4.32 %

6.61 %

8.84 %

Skewness

0.42

1.21

−0.01

−0.20

Excess kurtosis

0.06

6.82

2.08

−0.08

Statistic

EU butter

Oceania butter

Crude palm oil

Crude oil Brent

Mean

0.00 %

0.18 %

0.10 %

−0.19 %

Std

3.78 %

4.18 %

4.33 %

5.48 %

Skewness

−0.09

0.04

−0.70

−0.61

Excess kurtosis

2.49

2.19

2.08

1.82

EU butter

Oceania butter

Crude palm oil

Crude oil Brent

EU butter

1

0.33*

0.27*

0.05

Oceania butter

1

0.10

0.11

Crude palm oil

1

−0.14

Crude oil Brent

1

EU butter

Oceania butter

Crude palm oil

Crude oil Brent

EU butter

1

0.39*

0.20*

0.31*

Oceania butter

1

0.19*

0.14**

Crude palm oil

1

0.39*

Crude oil Brent

1