This result is not as clear when taking into consideration the three additional commodities incorporated in this chapter. If the futures market of a non-storable commodity performs poorly in its hedging function compared to the futures market of a storable commodity one would expect to see a negative trend when plotting portfolio variance reduction as a function of storability. This plot is found in Figure 10. Keep in mind that the storability measure in this case is ordinal not continuous thus one should not expect to see a linear, quadratic or other smooth function.