Freeport Correlations

35671DBC8

91.39 4.00 4.19%

The current 90-days correlation between Freeport McMoRan 545 and PepsiCo is -0.13 (i.e., Good diversification). The correlation of Freeport 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.

Freeport Correlation With Market

Average diversification

The correlation between Freeport McMoRan 545 percent and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Freeport McMoRan 545 percent and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Freeport could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Freeport when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Freeport - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Freeport McMoRan 545 percent to buy it.

Moving together with Freeport Bond

0.74	MRK	Merck Company Fiscal Year End 6th of February 2025	Pair Corr
0.65	PFE	Pfizer Inc Buyout Trend	Pair Corr
0.61	VZ	Verizon Communications Fiscal Year End 28th of January 2025	Pair Corr
0.61	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.69	GE	GE Aerospace Fiscal Year End 28th of January 2025	Pair Corr
0.72	KO	Coca Cola Fiscal Year End 11th of February 2025	Pair Corr

Moving against Freeport Bond

0.76	GOOG	Alphabet Class C Aggressive Push	Pair Corr
0.69	PYPL	PayPal Holdings Aggressive Push	Pair Corr
0.65	JPM	JPMorgan Chase Fiscal Year End 10th of January 2025	Pair Corr
0.63	BAC	Bank of America Fiscal Year End 10th of January 2025	Pair Corr
0.62	AVTE	Aerovate Therapeutics	Pair Corr
0.62	ELFNX	Elfun Trusts Elfun	Pair Corr
0.59	T	ATT Inc Sell-off Trend	Pair Corr
0.56	AXP	American Express Fiscal Year End 24th of January 2025	Pair Corr
0.49	CVX	Chevron Corp Fiscal Year End 7th of February 2025	Pair Corr
0.34	AA	Alcoa Corp Sell-off Trend	Pair Corr

Related Correlations Analysis

	PEP	CATWF	VSCO	KDP	SBFFY	ZUMZ	FIZZ	VNCE
PEP		0.0	-0.85	0.85	0.06	0.31	-0.57	0.81	PEP
CATWF	0.0		0.0	0.0	0.0	0.0	0.0	0.0	CATWF
VSCO	-0.85	0.0		-0.75	-0.27	-0.19	0.61	-0.8	VSCO
KDP	0.85	0.0	-0.75		-0.2	0.22	-0.62	0.69	KDP
SBFFY	0.06	0.0	-0.27	-0.2		0.22	0.23	0.04	SBFFY
ZUMZ	0.31	0.0	-0.19	0.22	0.22		0.2	0.22	ZUMZ
FIZZ	-0.57	0.0	0.61	-0.62	0.23	0.2		-0.52	FIZZ
VNCE	0.81	0.0	-0.8	0.69	0.04	0.22	-0.52		VNCE
	PEP	CATWF	VSCO	KDP	SBFFY	ZUMZ	FIZZ	VNCE

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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

KDP	+ 0.85	PEP
VNCE	+ 0.81	PEP
VNCE	+ 0.69	KDP
FIZZ	+ 0.61	VSCO
ZUMZ	+ 0.31	PEP
FIZZ	+ 0.23	SBFFY

High negative correlations

VSCO	- 0.85	PEP
VNCE	- 0.8	VSCO
KDP	- 0.75	VSCO
FIZZ	- 0.62	KDP
FIZZ	- 0.57	PEP
VNCE	- 0.52	FIZZ

Risk-Adjusted Indicators

There is a big difference between Freeport Bond performing well and Freeport Corporate Bond 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'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
PEP	0.70	(0.19)	0.00	(1.87)	0.00	0.00	1.24	(1.87)	5.88
CATWF	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
VSCO	2.39	0.97	0.41	1.37	1.72	(2.99)	6.62	(3.13)	17.41
KDP	0.79	(0.20)	0.00	(0.46)	0.00	0.00	1.48	(2.08)	6.63
SBFFY	0.54	(0.02)	0.00	0.40	0.00	0.00	2.72	0.00	16.59
ZUMZ	2.43	(0.20)	0.00	(0.05)	0.00	0.00	5.80	(5.10)	18.78
FIZZ	1.10	0.04	0.01	0.12	1.58	(1.11)	2.56	(1.89)	10.75
VNCE	3.35	(0.50)	0.00	(4.24)	0.00	0.00	8.11	(10.00)	22.58

Be your own money manager

Our tools can tell you how much better you can do entering a position in Freeport without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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