Atlas / Glossary / Contango / Backwardation Contango / Backwardation A futures curve above the spot price (contango) or below it (backwardation). Decides whether rolling a futures position costs or earns money — the silent driver of commodity fund returns.
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Where Contango / Backwardation is explained in depth The definition above is the short version. These pages put it to work, in the order they use it most:
Calculators that compute it Terms this definition uses The whole glossary
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