Southern Copper Correlations

SCCO Stock  USD 92.91  4.91  5.02%   
The current 90-days correlation between Southern Copper and First Quantum Minerals is 0.67 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Southern Copper moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Southern Copper moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Southern Copper Correlation With Market

SouthernDowDiversified AwaySouthernDowDiversified Away100%

Average diversification

The correlation between Southern Copper and DJI is 0.17 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Southern Copper and DJI in the same portfolio, assuming nothing else is changed.
  
Check out World Market Map to better understand how to build diversified portfolios, which includes a position in Southern Copper. 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.
To learn how to invest in Southern Stock, please use our How to Invest in Southern Copper guide.

Moving together with Southern Stock

  0.74AA Alcoa CorpPairCorr
  0.72AG First Majestic SilverPairCorr
  0.64IE Ivanhoe ElectricPairCorr
  0.68NG NovaGold ResourcesPairCorr
  0.62OR Osisko Gold RoPairCorr
  0.76RS Reliance Steel AluminumPairCorr
  0.75SA Seabridge GoldPairCorr
  0.74TX Ternium SA ADRPairCorr
  0.74WS Worthington SteelPairCorr
  0.63BAK Braskem SA ClassPairCorr
  0.71BTG B2Gold Corp Aggressive PushPairCorr
  0.77CLF Cleveland Cliffs Downward RallyPairCorr
  0.84CMC Commercial MetalsPairCorr
  0.67DOW Dow Inc Sell-off TrendPairCorr
  0.76ERO Ero Copper CorpPairCorr
  0.89FCX Freeport McMoran Copper Downward RallyPairCorr
  0.66GAU Galiano GoldPairCorr
  0.76GGB Gerdau SA ADRPairCorr
  0.74HUN HuntsmanPairCorr

Moving against Southern Stock

  0.36MSB Mesabi TrustPairCorr

Related Correlations Analysis

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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   
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High negative correlations   
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Risk-Adjusted Indicators

There is a big difference between Southern Stock performing well and Southern Copper 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 Southern Copper'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.

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