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

• Energy

For this asset class, please develop a well-reasoned hypothesis regarding the relative performance of two assets within the asset class. A relative performance trade (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 two assets 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.