ADIPOQ and obesity due to melanocortin 4 receptor deficiency: However, the effects of physical exercise on serum adiponectin levels are controversial, depending on the exercise type, the intensity of the training and the study population; some studies, performed on patients with obesity, diabetes and at high risk for myocardial infarction, showed a positive correlation between adiponectin levels and exercise [24], while others demonstrated that basal adiponectin concentrations do not change after long-term exercise [24,25,26].