Freeport McMoRan Correlations

Stocks . UK . 
Stock . Freeport McMoRan
0R2O Stock   38.98  1.05  2.77%   
The current 90-days correlation between Freeport McMoRan and Uniper SE is 0.18 (i.e., Average 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 and DJI is 0.15 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Freeport McMoRan and DJI in the same portfolio, assuming nothing else is changed.
  
The ability to find closely correlated positions to Freeport McMoRan 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 McMoRan 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 McMoRan - 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 to buy it.

Moving together with Freeport Stock

  0.75TLOU Tlou EnergyPairCorr
  0.87FOG Falcon Oil GasPairCorr
  0.76CLA CAP LEASE AVIATIONPairCorr
  0.79RIO Rio Tinto PLCPairCorr

Moving against Freeport Stock

  0.89GST GSTechnologiesPairCorr
  0.84ALK Alkemy Capital InvesPairCorr
  0.830LAI Summit MaterialsPairCorr
  0.81DEC Diversified EnergyPairCorr
  0.78BGEO Bank of GeorgiaPairCorr
  0.770P5L Axway Software SAPairCorr
  0.750K2K Molson Coors BeveragePairCorr
  0.74SMDS DS Smith PLCPairCorr
  0.710HPW Broadridge FinancialPairCorr
  0.71III 3I Group PLCPairCorr
  0.680N7I Cairo Communication SpAPairCorr
  0.670HJI Automatic Data ProcessingPairCorr
  0.66QBT Quantum BlockchainPairCorr
  0.64ROCK Rockfire Resources plcPairCorr
  0.46GMET Golden Metal ResourcesPairCorr
  0.36OSB OneSavings Bank PLCPairCorr
  0.89WISE Wise plcPairCorr
  0.85HSBA HSBC Holdings PLCPairCorr
  0.82HSBK Halyk BankPairCorr
  0.820R1O Amazon IncPairCorr
  0.81MNKS Monks Investment TrustPairCorr
  0.76GAW Games Workshop GroupPairCorr
  0.74EZJ EasyJet PLCPairCorr
  0.740HOY Boston Scientific CorpPairCorr
  0.680HW4 Charter CommunicationsPairCorr
  0.680JSC Bath Body WorksPairCorr
  0.67BAR Eclectic Bar GroupPairCorr
  0.65SSON Smithson Investment TrustPairCorr
  0.640R15 SoftBank Group CorpPairCorr
  0.62RR Rolls Royce HoldingsPairCorr

Related Correlations Analysis

Click cells to compare fundamentals   Check Volatility   Backtest Portfolio

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   
HVT
+ 0.84
LSC
LSC
+ 0.79
MUL
HVT
+ 0.73
0RJ4
LSC
+ 0.68
0RJ4
HVT
+ 0.67
MUL
MUL
+ 0.65
0RJ4
  
High negative correlations   
HVT
- 0.66
STK
STK
- 0.57
LSC
STK
- 0.55
0RJ4
STK
- 0.4
MUL
TRD
- 0.4
0RJ4
STK
- 0.31
TRD

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.

Be your own money manager

Our tools can tell you how much better you can do entering a position in Freeport McMoRan 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.

Did you try this?

Run Insider Screener Now

   

Insider Screener

Find insiders across different sectors to evaluate their impact on performance
All  Next Launch Module

Freeport McMoRan Corporate Management

Elected by the shareholders, the Freeport McMoRan's board of directors comprises two types of representatives: Freeport McMoRan inside directors who are chosen from within the company, and outside directors, selected externally and held independent of Freeport. The board's role is to monitor Freeport McMoRan's management team and ensure that shareholders' interests are well served. Freeport McMoRan's inside directors are responsible for reviewing and approving budgets prepared by upper management to implement core corporate initiatives and projects. On the other hand, Freeport McMoRan's outside directors are responsible for providing unbiased perspectives on the board's policies.
Pamela MassonVP OfficerProfile
Ellie MikesVP OfficerProfile
David JointVice RelationsProfile
Stephen HigginsExecutive OfficerProfile
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
2024 Macroaxis LLC
COMMON DESTINATIONS
MAIN CATEGORIES
COMPANY