Fundamentals and Risk Factors in Commodity Markets

A special issue of Risks (ISSN 2227-9091).

Deadline for manuscript submissions: 15 July 2026 | Viewed by 1431

Special Issue Editor


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Guest Editor
China Economics and Management Academy, School of Innovation and Development, Central University of Finance and Economics, Beijing 102206, China
Interests: empirical asset pricing; derivatives and option pricing; risk management and financial models; climate finance

Special Issue Information

Dear Colleagues,

We are pleased to announce a Special Issue titled “Fundamentals and Risk Factors in Commodity Markets”. It aims to delve into in-depth discussion on cutting-edge topics of commodity fundamentals and risks, considering the distinctive characteristics from the stock market and its vital role in the global economy.

We seek contributions that offer original insights, innovative methodologies, and effective solutions to the challenges faced by investors and financial professionals in these domains. Topics of interest for this Special Issue include, but are not limited to, the following:

  • Price volatility and risk management.
  • Climate change and sustainability.
  • Geopolitical risks and policy uncertainty.
  • Financialization and market structure.
  • Technological innovations and digitalization risks.
  • Macroeconomic and monetary policy risks.
  • Social and ethical risks.

We look forward to receiving your contributions, which can help advance our shared understanding of risk factors of commodity markets and their economic impacts through high-quality research and discourse.

Dr. Yahua Xu
Guest Editor

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Keywords

  • commodity markets
  • climate risks
  • financialization
  • geopolitical risks
  • price volatility
  • macroeconomic risks
  • technological innovations

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Published Papers (1 paper)

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Research

35 pages, 3963 KB  
Article
Systemic Risk Transmission in Commodity Markets
by Irina Georgescu
Risks 2026, 14(2), 27; https://doi.org/10.3390/risks14020027 - 1 Feb 2026
Viewed by 867
Abstract
This paper investigates tail-risk transmission and asymmetric dependence in commodity markets using an asymmetric fuzzy vine copula framework applied to gold, crude oil, natural gas, and silver from 1 January 2015 to 1 January 2025, extracted from Yahoo Finance. Bootstrap-based trapezoidal fuzzy numbers [...] Read more.
This paper investigates tail-risk transmission and asymmetric dependence in commodity markets using an asymmetric fuzzy vine copula framework applied to gold, crude oil, natural gas, and silver from 1 January 2015 to 1 January 2025, extracted from Yahoo Finance. Bootstrap-based trapezoidal fuzzy numbers are used to estimate fuzzy tail dependence, VaR, and CoVaR, capturing both sampling variability and parameter uncertainty. Results show generally weak and symmetric dependence among commodities, except for strong lower-tail dominance between crude oil and natural gas, indicating downside contagion within the energy sector. Adding the SKEW index as a market-implied tail-risk proxy has negligible effects on dependence and spillovers, revealing that equity-market tail-risk sentiment does not influence commodity markets. Systemic risk remains localized within energy and precious-metal linkages, underscoring the need for sector-specific monitoring. Full article
(This article belongs to the Special Issue Fundamentals and Risk Factors in Commodity Markets)
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