Futures and exchange-traded options are widely available for the following asset classes:

• Equities
• Agriculture

For each of these asset classes, please develop a well-reasoned hypothesis regarding therelativeperformance of two assets within the asset class. A relative performancetrade (otherwise known as a pairs trade) does not require you to identify whether a given security will increase or decrease or value. Instead,it requires the following:

1. Identify twoassets within the asset class.

2. Identify which of the two assets you believe will outperform the other asset.

3. Long the asset that you believe will outperform and short the asset that you believe will underperform.