1. Figure 6.1. Plot of the Swiss franc exchange rate

2. Figure 6.2. Relation between cash position and futures price when there is a deterministic relation between the futures price and the spot price.

3. Figure 6.3. Change in value of the hedged position as a function of the exchange rate change and the size of the hedge h

4. Figure 6.3. Change in value of the hedged position as a function of the exchange rate change and the size of the hedge h

5. Figure 6.4. Relation between cash position and futures price changes when the futures price changes are imperfectly correlated with the cash position changes

6. Figure 6.5. Regression line obtained using data from Figure 6.4