Freeport McMoran Correlations

FCX Stock

USD 45.80 0.61 1.35%

The current 90-days correlation between Freeport McMoran Copper and BHP Group Limited is -0.07 (i.e., Good 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

Average diversification

The correlation between Freeport McMoran Copper Gold and DJI is 0.13 (i.e., Average 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.

Build AI portfolio with Freeport Stock

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

0.86	AA	Alcoa Corp	Pair Corr
0.67	B	Barrick Mining Symbol Change	Pair Corr
0.8	CF	CF Industries Holdings	Pair Corr
0.89	DD	Dupont De Nemours Earnings Call This Week	Pair Corr
0.9	MT	ArcelorMittal SA ADR Earnings Call Next Week	Pair Corr
0.84	NX	Quanex Building Products	Pair Corr
0.94	TX	Ternium SA ADR Earnings Call This Week	Pair Corr
0.83	WS	Worthington Steel	Pair Corr
0.92	ECVT	Ecovyst Earnings Call This Week	Pair Corr

Moving against Freeport Stock

0.76	FEAM	5E Advanced Materials	Pair Corr
0.52	BAK	Braskem SA Class	Pair Corr
0.4	AMR	Alpha Metallurgical	Pair Corr
0.38	AVD	American Vanguard	Pair Corr
0.36	WLKP	Westlake Chemical	Pair Corr
0.32	HYMCL	Hycroft Mining Holding	Pair Corr

Related Correlations Analysis

	ARREF	BHP	CLF	ERO	HBM	NEM	RIO	SCCO	TGB	VALE
ARREF		0.54	0.64	0.58	0.85	0.84	-0.07	0.86	0.92	0.63	ARREF
BHP	0.54		0.67	-0.01	0.3	0.23	0.7	0.35	0.38	0.81	BHP
CLF	0.64	0.67		-0.02	0.27	0.52	0.33	0.42	0.55	0.66	CLF
ERO	0.58	-0.01	-0.02		0.85	0.61	-0.5	0.79	0.67	0.19	ERO
HBM	0.85	0.3	0.27	0.85		0.77	-0.32	0.9	0.89	0.46	HBM
NEM	0.84	0.23	0.52	0.61	0.77		-0.32	0.75	0.86	0.36	NEM
RIO	-0.07	0.7	0.33	-0.5	-0.32	-0.32		-0.18	-0.28	0.57	RIO
SCCO	0.86	0.35	0.42	0.79	0.9	0.75	-0.18		0.87	0.63	SCCO
TGB	0.92	0.38	0.55	0.67	0.89	0.86	-0.28	0.87		0.5	TGB
VALE	0.63	0.81	0.66	0.19	0.46	0.36	0.57	0.63	0.5		VALE
	ARREF	BHP	CLF	ERO	HBM	NEM	RIO	SCCO	TGB	VALE

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Please upgrade your account to get full access to Macroaxis premium features

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

TGB	+ 0.92	ARREF
SCCO	+ 0.9	HBM
TGB	+ 0.89	HBM
TGB	+ 0.87	SCCO
SCCO	+ 0.86	ARREF
TGB	+ 0.86	NEM

High negative correlations

RIO	- 0.5	ERO
RIO	- 0.32	NEM
RIO	- 0.32	HBM
TGB	- 0.28	RIO
SCCO	- 0.18	RIO
RIO	- 0.07	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
ARREF	1.43	0.51	0.23	17.91	0.92	(2.00)	3.73	(1.59)	11.89
BHP	1.25	0.07	(0.02)	0.34	1.32	(1.44)	3.42	(2.29)	7.22
CLF	3.83	0.43	0.11	0.53	4.23	(4.81)	7.88	(6.90)	31.26
ERO	2.21	0.27	0.03	6.73	2.65	(2.50)	5.52	(4.08)	20.72
HBM	1.74	0.42	0.17	1.07	1.29	(1.96)	3.89	(2.60)	12.35
NEM	1.76	0.30	(0.01)	(0.31)	2.39	(1.74)	3.07	(4.11)	11.13
RIO	1.16	0.00	(0.10)	0.19	1.24	(1.31)	2.49	(2.23)	5.60
SCCO	1.45	0.03	(0.05)	0.27	1.48	(1.62)	2.49	(2.43)	10.78
TGB	3.02	0.74	0.16	22.70	2.87	(3.71)	7.88	(4.46)	24.36
VALE	1.37	0.00	(0.05)	0.20	1.69	(1.49)	3.68	(2.74)	8.59

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC