Southern Copper Correlations

SCCO Stock

USD 99.74 0.94 0.93%

The current 90-days correlation between Southern Copper and First Quantum Minerals is 0.73 (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

Modest diversification

The correlation between Southern Copper and DJI is 0.23 (i.e., Modest 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

0.68	MT	ArcelorMittal SA ADR	Pair Corr
0.85	TX	Ternium SA ADR	Pair Corr
0.66	BTG	B2Gold Corp Aggressive Push	Pair Corr
0.64	CLF	Cleveland Cliffs Aggressive Push	Pair Corr
0.77	GFI	Gold Fields	Pair Corr
0.63	HMY	Harmony Gold Mining	Pair Corr
0.68	OLN	Olin Fiscal Year End 23rd of January 2025	Pair Corr
0.62	PAAS	Pan American Silver	Pair Corr
0.67	AG	First Majestic Silver	Pair Corr
0.85	DD	Dupont De Nemours Fiscal Year End 4th of February 2025	Pair Corr
0.81	EU	enCore Energy Corp	Pair Corr
0.66	HL	Hecla Mining	Pair Corr

Related Correlations Analysis

	ERO	HBM	TGB	ARREF	CPPMF	CSCCF	LUNMF	NEVDF	CPPKF
ERO		-0.04	0.59	0.42	0.62	0.42	-0.6	0.25	-0.31	ERO
HBM	-0.04		0.73	0.81	0.32	0.76	0.46	-0.86	0.86	HBM
TGB	0.59	0.73		0.88	0.63	0.9	-0.07	-0.52	0.5	TGB
ARREF	0.42	0.81	0.88		0.53	0.89	0.11	-0.65	0.6	ARREF
CPPMF	0.62	0.32	0.63	0.53		0.43	-0.54	-0.26	0.08	CPPMF
CSCCF	0.42	0.76	0.9	0.89	0.43		0.09	-0.59	0.58	CSCCF
LUNMF	-0.6	0.46	-0.07	0.11	-0.54	0.09		-0.41	0.56	LUNMF
NEVDF	0.25	-0.86	-0.52	-0.65	-0.26	-0.59	-0.41		-0.83	NEVDF
CPPKF	-0.31	0.86	0.5	0.6	0.08	0.58	0.56	-0.83		CPPKF
	ERO	HBM	TGB	ARREF	CPPMF	CSCCF	LUNMF	NEVDF	CPPKF

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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

CSCCF	+ 0.9	TGB
CSCCF	+ 0.89	ARREF
ARREF	+ 0.88	TGB
CPPKF	+ 0.86	HBM
ARREF	+ 0.81	HBM
CSCCF	+ 0.76	HBM

High negative correlations

NEVDF	- 0.86	HBM
CPPKF	- 0.83	NEVDF
NEVDF	- 0.65	ARREF
LUNMF	- 0.6	ERO
NEVDF	- 0.59	CSCCF
LUNMF	- 0.54	CPPMF

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.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
ERO	2.35	(0.48)	0.00	(0.51)	0.00	0.00	5.24	(4.44)	15.44
HBM	2.29	0.14	0.04	0.25	2.95	(2.49)	4.23	(4.77)	15.90
TGB	2.73	(0.17)	0.00	(0.02)	0.00	0.00	5.66	(5.28)	22.48
ARREF	1.79	(0.08)	(0.04)	0.03	1.94	(2.50)	3.94	(3.36)	11.29
CPPMF	6.33	0.39	0.05	0.34	6.81	(10.13)	16.67	(13.33)	57.50
CSCCF	2.65	(0.05)	(0.01)	0.08	3.20	(3.02)	6.17	(4.49)	15.71
LUNMF	2.14	0.41	0.11	2.07	2.33	(2.39)	4.41	(3.81)	14.28
NEVDF	3.32	(1.52)	0.00	(7.94)	0.00	0.00	0.00	(12.50)	82.02
CPPKF	1.98	0.12	0.00	1.63	2.43	(2.55)	3.70	(4.55)	12.05

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