Here Are The Asset Classes Hedge Funds Are Loving And Hating Right Now

Business Insider/Matthew Boesler (data from Bloomberg)Standard deviation of latest speculative positioning from the average over the last two years.

The CFTC just released weekly Commitments of Traders data, which break down positioning in the futures markets for various asset classes as of February 18.

The chart shows how hedge funds are positioned in these various markets. For each asset class, it measures how many standard deviations away hedge funds are from the average position size over the last two years.

Speculative positioning in coffee futures is 4.31 standard deviations above the two-year average, whereas speculative positioning in E-mini Dow Jones Industrial Average futures is 1.99 standard deviations below the two-year average.

By this measure, hedge funds are also particularly long cattle, crude oil, milk, and natural gas.

On the flip side, they are also particularly short eurodollars, the Mexican peso, the Canadian dollar, and E-mini S&P 500 futures.