pre_text: table of contents valero energy corporation and subsidiaries notes to consolidated financial statements ( continued ) cash flow hedges cash flow hedges are used to hedge price volatility in certain forecasted feedstock and refined product purchases , refined product sales , and natural gas purchases . the objective of our cash flow hedges is to lock in the price of forecasted feedstock , product or natural gas purchases or refined product sales at existing market prices that we deem favorable . as of december 31 , 2011 , we had the following outstanding commodity derivative instruments that were entered into to hedge forecasted purchases or sales of crude oil and refined products . the information presents the notional volume of outstanding contracts by type of instrument and year of maturity ( volumes in thousands of barrels ) . notional contract volumes by year of maturity derivative instrument 2012 .
post_text: .
table: Derivative Instrument Notional Contract Volumes by Year of Maturity 2012
table: Crude oil and refined products:
table: Swaps – long 5,961
table: Swaps – short 5,961
table: Futures – long 38,201
table: Futures – short 36,637
table: Physical contracts – short 1,564
question: Analyse this data from a financial earnings document. what is the ratio of short physical contracts to long futures notional contracts?