Statistical time series analysis is a powerful method in characterizing the dynamics of variables in forward contract markets. Modeling univariate and multivariate time series variables will enable the modeler to build forecasting models. Variables in a given forward contract market (for example: basis, volume and weeks-to-expiration) can have causal relationship with each other and with their own lagged values. Variables with significant Granger causality are modeled using vector autoregressive processes, while variables with insignificant Granger causality are modeled using autoregressive...