Freeport McMoran Correlations

FCX Stock

USD 44.20 0.44 1.01%

The current 90-days correlation between Freeport McMoran Copper and Southern Copper is 0.92 (i.e., Almost no diversification). The correlation of Freeport McMoran is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Freeport McMoran Correlation With Market

Weak diversification

The correlation between Freeport McMoran Copper Gold and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Freeport McMoran Copper Gold and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Freeport McMoran Copper Gold. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in main economic indicators.

Moving together with Freeport Stock

0.71	VHI	Valhi Inc	Pair Corr
0.67	GROY	Gold Royalty Corp	Pair Corr
0.92	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.83	EU	enCore Energy Corp	Pair Corr
0.66	HL	Hecla Mining	Pair Corr
0.65	MT	ArcelorMittal SA ADR	Pair Corr

Moving against Freeport Stock

0.42	HLP	Hongli Group Ordinary	Pair Corr
0.48	MKDTY	Molecular Data	Pair Corr

Related Correlations Analysis

	ERO	ARREF	HBM	LUNMF	SCCO	CPPMF	CSCCF	FQVLF	NEVDF
ERO		0.43	-0.03	-0.75	0.46	0.83	0.45	0.08	0.36	ERO
ARREF	0.43		0.81	-0.31	0.92	0.58	0.89	0.71	-0.56	ARREF
HBM	-0.03	0.81		0.06	0.85	0.24	0.75	0.82	-0.86	HBM
LUNMF	-0.75	-0.31	0.06		-0.34	-0.68	-0.33	-0.12	-0.2	LUNMF
SCCO	0.46	0.92	0.85	-0.34		0.63	0.84	0.71	-0.6	SCCO
CPPMF	0.83	0.58	0.24	-0.68	0.63		0.48	0.16	0.04	CPPMF
CSCCF	0.45	0.89	0.75	-0.33	0.84	0.48		0.81	-0.5	CSCCF
FQVLF	0.08	0.71	0.82	-0.12	0.71	0.16	0.81		-0.64	FQVLF
NEVDF	0.36	-0.56	-0.86	-0.2	-0.6	0.04	-0.5	-0.64		NEVDF
	ERO	ARREF	HBM	LUNMF	SCCO	CPPMF	CSCCF	FQVLF	NEVDF

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

SCCO	+ 0.92	ARREF
CSCCF	+ 0.89	ARREF
SCCO	+ 0.85	HBM
CSCCF	+ 0.84	SCCO
CPPMF	+ 0.83	ERO
FQVLF	+ 0.82	HBM

High negative correlations

NEVDF	- 0.86	HBM
LUNMF	- 0.75	ERO
CPPMF	- 0.68	LUNMF
NEVDF	- 0.64	FQVLF
NEVDF	- 0.6	SCCO
NEVDF	- 0.56	ARREF

Risk-Adjusted Indicators

There is a big difference between Freeport Stock performing well and Freeport McMoran Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Freeport McMoran's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ERO	2.30	(0.54)	0.00	(0.74)	0.00	0.00	5.24	(4.44)	15.44
ARREF	1.77	(0.03)	(0.04)	0.08	1.77	(2.50)	3.94	(3.25)	11.29
HBM	2.27	0.12	0.03	0.27	2.95	(2.44)	4.23	(4.77)	15.90
LUNMF	2.12	0.43	0.05	(0.23)	2.46	(2.26)	4.41	(3.90)	12.05
SCCO	1.81	(0.05)	(0.04)	0.05	2.39	(1.80)	3.54	(3.80)	13.86
CPPMF	6.10	(0.09)	0.00	0.07	6.78	(10.73)	16.67	(13.33)	57.50
CSCCF	2.60	(0.11)	(0.03)	0.03	3.12	(2.99)	6.17	(4.49)	15.71
FQVLF	2.46	0.04	0.02	0.16	3.37	(2.74)	5.99	(4.22)	17.44
NEVDF	3.32	(1.45)	0.00	4.01	0.00	0.00	0.00	(12.50)	82.02

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