Freeport McMoran Correlations

FCX Stock

USD 47.38 0.73 1.52%

The current 90-days correlation between Freeport McMoran Copper and Barrick Mining is 0.32 (i.e., Weak 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

Very weak diversification

The correlation between Freeport McMoran Copper Gold and DJI is 0.48 (i.e., Very 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.

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 world development indicators.

Moving together with Freeport Stock

0.74

Worthington Steel Earnings Call This Week

Pair Corr

Moving against Freeport Stock

0.39	REC	Recharge Metals	Pair Corr
0.31	MARI	Marimaca Copper Corp	Pair Corr
0.56	ZKIN	ZK International	Pair Corr
0.37	FAIR	Fairchild Gold Corp Earnings Call This Week	Pair Corr
0.35	AZ9	Asian Battery Metals	Pair Corr
0.32	BTU	BTU Metals Corp Earnings Call This Week	Pair Corr
0.31	600231	Lingyuan Iron Steel	Pair Corr

Related Correlations Analysis

	B	APD	VALE	CTVA	BHP	ECL	CRH	VMC	AEM
B		-0.47	0.82	-0.06	0.44	-0.23	0.41	-0.15	0.56	B
APD	-0.47		-0.65	0.69	-0.56	0.39	-0.42	0.35	-0.29	APD
VALE	0.82	-0.65		-0.14	0.6	-0.54	0.44	-0.41	0.27	VALE
CTVA	-0.06	0.69	-0.14		-0.34	-0.02	-0.28	0.05	-0.43	CTVA
BHP	0.44	-0.56	0.6	-0.34		-0.18	0.77	0.16	0.35	BHP
ECL	-0.23	0.39	-0.54	-0.02	-0.18		0.15	0.59	0.24	ECL
CRH	0.41	-0.42	0.44	-0.28	0.77	0.15		0.44	0.33	CRH
VMC	-0.15	0.35	-0.41	0.05	0.16	0.59	0.44		0.24	VMC
AEM	0.56	-0.29	0.27	-0.43	0.35	0.24	0.33	0.24		AEM
	B	APD	VALE	CTVA	BHP	ECL	CRH	VMC	AEM

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

VALE	+ 0.82	B
CRH	+ 0.77	BHP
CTVA	+ 0.69	APD
BHP	+ 0.6	VALE
VMC	+ 0.59	ECL
AEM	+ 0.56	B

High negative correlations

VALE	- 0.65	APD
BHP	- 0.56	APD
ECL	- 0.54	VALE
APD	- 0.47	B
AEM	- 0.43	CTVA
CRH	- 0.42	APD

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
B	2.32	0.55	0.18	0.56	2.63	(2.61)	5.16	(4.22)	19.00
APD	1.28	(0.33)	0.00	(0.28)	0.00	0.00	2.50	(2.39)	18.39
VALE	1.22	0.30	0.16	0.42	1.41	(1.44)	2.68	(2.24)	8.08
CTVA	1.25	(0.18)	0.00	(0.21)	0.00	0.00	1.88	(3.63)	10.88
BHP	1.27	0.07	0.06	0.13	1.31	(1.56)	2.70	(1.86)	8.41
ECL	1.02	(0.11)	0.00	(0.09)	0.00	0.00	1.73	(2.42)	6.35
CRH	1.26	0.09	0.08	0.15	1.02	(1.66)	2.92	(1.56)	8.15
VMC	0.93	(0.09)	0.00	(0.03)	0.00	0.00	1.97	(2.22)	5.89
AEM	1.92	0.11	0.03	0.19	2.87	(1.94)	4.31	(5.01)	13.27

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