南华商品指数：所有版块均下跌，有色板块领跌

Report Date - The report is dated January 8, 2026 [3] Core Viewpoint - According to the closing prices of adjacent trading days, the Nanhua Composite Index fell by -1.44% today. All sector indices and theme indices declined. The Nanhua Non-ferrous Metals Index had the largest decline of -3.06% among sector indices, while the Nanhua Agricultural Products Index had the smallest decline of -0.51%. The Black Raw Materials Index had the largest decline of -1.47% among theme indices, and the Energy Index had the smallest decline of -0.16%. Among single commodity futures indices, the Low-sulfur Fuel Oil index had the largest increase of 2.41%, and the Nickel index had the largest decline of -7.87% [1][3] Index Data Summary Comprehensive Index and Sector Indices - Nanhua Composite Index (NHCI): Closed at 2670.47, down 39.07 points or -1.44% from the previous day, with an annualized return of 7.37% and an annualized volatility of 11.82%, and a Sharpe ratio of 0.62 [3] - Precious Metals Index (NHPMI): Closed at 1923.55, down 35.23 points or -1.80%, with an annualized return of 88.42%, an annualized volatility of 20.31%, and a Sharpe ratio of 4.35 [3] - Industrial Products Index (NHII): Closed at 3603.79, down 53.43 points or -1.46%, with an annualized return of -4.03%, an annualized volatility of 14.05%, and a Sharpe ratio of -0.29 [3] - Metal Index (NHMI): Closed at 7138.95, down 172.64 points or -2.36%, with an annualized return of 13.49%, an annualized volatility of 12.58%, and a Sharpe ratio of 1.07 [3] - Energy and Chemical Index (NHECI): Closed at 1541.33, down 9.37 points or -0.60%, with an annualized return of -14.57%, an annualized volatility of 16.79%, and a Sharpe ratio of -0.87 [3] - Non-ferrous Metals Index (NHNF): Closed at 2014.27, down 63.62 points or -3.06%, with an annualized return of 23.42%, an annualized volatility of 13.95%, and a Sharpe ratio of 1.68 [3] - Black Index (NHFI): Closed at 2589.82, down 32.24 points or -1.23%, with an annualized return of -1.74%, an annualized volatility of 16.55%, and a Sharpe ratio of -0.11 [3] - Agricultural Products Index (NHAI): Closed at 1058.85, down 5.45 points or -0.51%, with an annualized return of 1.96%, an annualized volatility of 7.88%, and a Sharpe ratio of 0.25 [3] Theme Indices - Nanhua Composite Mini Index (NHCIMi): Closed at 1163.48, down 6.42 points or -0.55%, with an annualized return of -0.33%, an annualized volatility of 8.68%, and a Sharpe ratio of -0.04 [3] - Energy Index (NHEI): Closed at 948.90, down 1.51 points or -0.16%, with an annualized return of -3.40%, an annualized volatility of 16.47%, and a Sharpe ratio of -0.21 [3] - Petrochemical Index (NHPCI): Closed at 907.49, down 5.39 points or -0.59%, with an annualized return of 0.66%, an annualized volatility of 10.52%, and a Sharpe ratio of 0.06 [3] - Coal Chemical Index (NHCCI): Closed at 930.25, down 8.34 points or -0.89%, with an annualized return of -0.66%, an annualized volatility of 12.07%, and a Sharpe ratio of -0.05 [3] - Black Raw Materials Index (NHFM): Closed at 1093.09, down 16.34 points or -1.47%, with an annualized return of 0.05%, an annualized volatility of 17.46%, and a Sharpe ratio of 0.00 [3] - Building Materials Index (NHBMI): Closed at 709.62, down 2.84 points or -0.40%, with an annualized return of -0.20%, an annualized volatility of 12.50%, and a Sharpe ratio of -0.02 [3] - Oilseeds and Oils Index (NHOOl): Closed at 1220.66, down 8.08 points or -0.66%, with an annualized return of -0.23%, an annualized volatility of 8.30%, and a Sharpe ratio of -0.03 [3] - Economic Crops Index (NHAECI): Closed at 938.82, down 9.03 points or -0.95%, with an annualized return of 0.95%, an annualized volatility of 8.46%, and a Sharpe ratio of 0.11 [3] Single Commodity Futures Indices - The Low-sulfur Fuel Oil index had the largest increase of 2.41%, and the Nickel index had the largest decline of -7.87% [1][3] Industry Chain and Index Fluctuation - Energy and Chemical Sector: The Synthetic Ammonia index fell -1.35%, Coal - 0.03%, Naphtha - 0.30%, PTA -1.24%, Crude Oil - 0.17%, and Fuel Oil rose 0.86% [11] - Black Sector: Some品种产业链示意图 is provided, but specific data is not fully presented [12] - Agricultural Products Sector: The Rapeseed Oil index rose 0.58%, Peanut Oil - 0.39%, Soybean Oil - 1.53%, Rapeseed - 0.35%, Rapeseed Meal - 2.52%, and Live Pigs rose 0.80% [13]