Freeport McMoran Correlations
| FCX Stock | USD 51.59 0.51 1.00% |
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 perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Freeport McMoran moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Freeport McMoran Copper Gold moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Very weak diversification
The correlation between Freeport McMoran Copper Gold and NYA is 0.41 (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 NYA in the same portfolio, assuming nothing else is changed.
Freeport |
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 Copper Gold to buy it.
Moving together with Freeport Stock
| 0.98 | AA | Alcoa Corp Financial Report 17th of July 2024 | PairCorr |
| 0.74 | DOW | Dow Inc Earnings Call This Week | PairCorr |
| 0.68 | VHI | Valhi Inc | PairCorr |
| 0.9 | WPM | Wheaton Precious Metals | PairCorr |
| 0.9 | GOLD | Barrick Gold Corp Aggressive Push | PairCorr |
| 0.93 | AG | First Majestic Silver | PairCorr |
| 0.87 | AU | AngloGold Ashanti plc Financial Report 28th of June 2024 | PairCorr |
| 0.88 | DC | Dakota Gold Corp | PairCorr |
| 0.86 | DD | Dupont De Nemours Sell-off Trend | PairCorr |
Moving against Freeport Stock
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
| High negative correlations
|
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 | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ERO | 2.45 | 0.38 | 0.15 | 0.25 | 2.60 | 6.06 | 12.98 | |||
| HBM | 1.94 | 0.66 | 0.45 | 0.47 | 1.05 | 4.91 | 11.42 | |||
| TGB | 2.87 | 0.87 | 0.33 | 0.48 | 2.36 | 7.19 | 18.57 | |||
| MTAL | 1.57 | 0.04 | (0.02) | (0.14) | 1.89 | 3.52 | 8.25 | |||
| FMST | 3.07 | (0.09) | 0.00 | (0.14) | 0.00 | 8.85 | 22.74 | |||
| CCJ | 2.17 | 0.01 | 0.01 | 0.08 | 2.97 | 4.57 | 15.59 | |||
| CLF | 1.69 | (0.27) | 0.00 | (0.15) | 0.00 | 2.85 | 15.47 |
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 Alpha Finder Now
Alpha FinderUse alpha and beta coefficients to find investment opportunities after accounting for the risk |
| All Next | Launch Module |
Freeport McMoran Corporate Directors
Freeport McMoran corporate directors refer to members of a Freeport McMoran board of directors. The board of directors generally takes responsibility for the Freeport McMoran's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Freeport McMoran's board members must vote for the resolution. The Freeport McMoran board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Dustan McCoy | Lead Independent Director | Profile | |
| Frances Townsend | Independent Director | Profile | |
| David Joint | Director - Investor Relations | Profile | |
| Lydia Kennard | Independent Director | Profile |
Already Invested in Freeport McMoran Copper Gold?
The danger of trading Freeport McMoran Copper Gold is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Freeport McMoran is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Freeport McMoran. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Freeport McMoran Copper is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Freeport McMoran Copper offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Freeport McMoran's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Freeport Mcmoran Copper Gold Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Freeport Mcmoran Copper Gold 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 tightly coupled with the direction of predictive economic indicators such as signals in main economic indicators. Note that the Freeport McMoran Copper information on this page should be used as a complementary analysis to other Freeport McMoran's statistical models used to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Idea Analyzer module to analyze all characteristics, volatility and risk-adjusted return of Macroaxis ideas.
Complementary Tools for Freeport Stock analysis
When running Freeport McMoran's price analysis, check to measure Freeport McMoran's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Freeport McMoran is operating at the current time. Most of Freeport McMoran's value examination focuses on studying past and present price action to predict the probability of Freeport McMoran's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Freeport McMoran's price. Additionally, you may evaluate how the addition of Freeport McMoran to your portfolios can decrease your overall portfolio volatility.
| Global Correlations Find global opportunities by holding instruments from different markets | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Commodity Channel Use Commodity Channel Index to analyze current equity momentum | |
| Odds Of Bankruptcy Get analysis of equity chance of financial distress in the next 2 years | |
| Performance Analysis Check effects of mean-variance optimization against your current asset allocation | |
| Portfolio Diagnostics Use generated alerts and portfolio events aggregator to diagnose current holdings | |
| Earnings Calls Check upcoming earnings announcements updated hourly across public exchanges |
Is Freeport McMoran's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Freeport McMoran. If investors know Freeport will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Freeport McMoran listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth (0.30) | Dividend Share 0.6 | Earnings Share 1.14 | Revenue Per Share 16.579 | Quarterly Revenue Growth 0.173 |
The market value of Freeport McMoran Copper is measured differently than its book value, which is the value of Freeport that is recorded on the company's balance sheet. Investors also form their own opinion of Freeport McMoran's value that differs from its market value or its book value, called intrinsic value, which is Freeport McMoran's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Freeport McMoran's market value can be influenced by many factors that don't directly affect Freeport McMoran's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Freeport McMoran's value and its price as these two are different measures arrived at by different means. Investors typically determine if Freeport McMoran is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Freeport McMoran's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.