Southern Copper Correlations

SCCO Stock

USD 218.30 2.60 1.21%

The current 90-days correlation between Southern Copper and Rio Tinto ADR is 0.6 (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

Very poor diversification

The correlation between Southern Copper and DJI is 0.82 (i.e., Very poor 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.

Build AI portfolio with Southern Stock

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 unemployment.

To learn how to invest in Southern Stock, please use our How to Invest in Southern Copper guide.

Moving together with Southern Stock

0.81	B	Barrick Mining Symbol Change	Pair Corr
0.66	BP60	ALMA METALS LTD	Pair Corr
0.81	AA	Alcoa Corp	Pair Corr
0.93	AG	First Majestic Silver Aggressive Push	Pair Corr
0.92	AP	Ampco Pittsburgh	Pair Corr
0.93	AU	AngloGold Ashanti plc	Pair Corr
0.72	SRM	Seabridge Gold	Pair Corr
0.74	HL	Hecla Mining Aggressive Push	Pair Corr
0.92	MT	ArcelorMittal SA ADR	Pair Corr
0.91	OR	Osisko Gold Ro	Pair Corr
0.88	RS	Reliance Steel Aluminum	Pair Corr
0.74	SA	Seabridge Gold	Pair Corr
0.86	TG	Tredegar	Pair Corr
0.96	TX	Ternium SA ADR	Pair Corr
0.88	WS	Worthington Steel	Pair Corr
0.71	CUU	Copper Fox Metals	Pair Corr
0.98	VALE	Vale SA ADR Aggressive Push	Pair Corr
0.67	ARI	Arika Resources	Pair Corr
0.68	SRK	Strike Resources	Pair Corr
0.8	LY1	Lion One Metals Earnings Call This Week	Pair Corr
0.85	UJ0	WEST RED LAKE	Pair Corr
0.94	H6F	ARIZONA SONORAN PER	Pair Corr
0.83	DHR	Discovery Harbour	Pair Corr
0.77	P4Q	Perseus Mining	Pair Corr
0.63	ELY	Ely Gold Royalties	Pair Corr
0.95	WPM	Wheaton Precious Metals	Pair Corr

Moving against Southern Stock

0.56	0GC0	RIDGELINE MINERALS	Pair Corr
0.39	WA1	WA1 Resources	Pair Corr
0.91	R8R	REGENER8 Resources	Pair Corr
0.43	FHS	Freehill Mining	Pair Corr

Related Correlations Analysis

	RIO	FCX	NEM	SHW	AEM	CRH	BHP	ECL	HBM	B
RIO		0.97	0.94	0.8	0.89	0.18	0.97	0.88	0.97	0.79	RIO
FCX	0.97		0.97	0.77	0.91	0.23	0.94	0.82	0.99	0.89	FCX
NEM	0.94	0.97		0.73	0.92	0.24	0.9	0.8	0.98	0.93	NEM
SHW	0.8	0.77	0.73		0.78	-0.1	0.76	0.88	0.77	0.56	SHW
AEM	0.89	0.91	0.92	0.78		0.01	0.92	0.9	0.92	0.83	AEM
CRH	0.18	0.23	0.24	-0.1	0.01		0.13	-0.1	0.19	0.29	CRH
BHP	0.97	0.94	0.9	0.76	0.92	0.13		0.89	0.95	0.76	BHP
ECL	0.88	0.82	0.8	0.88	0.9	-0.1	0.89		0.83	0.6	ECL
HBM	0.97	0.99	0.98	0.77	0.92	0.19	0.95	0.83		0.88	HBM
B	0.79	0.89	0.93	0.56	0.83	0.29	0.76	0.6	0.88		B
	RIO	FCX	NEM	SHW	AEM	CRH	BHP	ECL	HBM	B

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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

HBM	+ 0.99	FCX
HBM	+ 0.98	NEM
FCX	+ 0.97	RIO
BHP	+ 0.97	RIO
HBM	+ 0.97	RIO
NEM	+ 0.97	FCX

High negative correlations

ECL	- 0.1	CRH
CRH	- 0.1	SHW

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
RIO	1.39	0.48	0.20	0.69	1.52	(1.47)	3.59	(2.62)	9.72
FCX	1.96	0.75	0.26	0.76	2.14	(2.17)	4.25	(4.27)	12.29
NEM	2.20	0.63	0.18	0.65	2.87	(2.43)	5.48	(5.20)	17.21
SHW	0.98	0.05	0.02	0.15	1.15	(0.99)	2.58	(2.13)	6.63
AEM	2.13	0.67	0.17	1.03	2.77	(2.21)	5.36	(4.58)	17.48
CRH	1.63	0.02	0.03	0.09	1.93	(1.73)	3.35	(3.14)	10.55
BHP	1.46	0.61	0.29	1.00	1.41	(1.71)	3.84	(2.42)	9.15
ECL	0.84	0.17	0.15	0.37	0.66	(0.93)	2.03	(1.47)	4.92
HBM	2.49	0.97	0.27	1.35	2.83	(3.01)	5.97	(3.93)	21.74
B	1.95	0.48	0.12	0.67	3.09	(1.95)	4.37	(4.74)	20.20

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