Looking to balance out your exposure to FCX? The ETFs below have the lowest correlation with FCX — they tend to move on their own, which can help reduce risk when FCX drops. The stock ideas table highlights individual companies that behave independently from FCX.
Best Diversifiers for FCX
6 ETFs have low correlation with FCX (below 0.3), 4 of which are negatively correlated. The least correlated is iShares 0-3 Month Treasury Bond ETF (SGOV) (Ultrashort Bond) with a 1Y correlation of -0.10, roughly unchanged from -0.03 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.10 | -0.04 | -0.03 | 100 | Ultrashort Bond | FCX vs SGOV | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.07 | -0.04 | 0.02 | 100 | Government Bonds, Ultrashort Bond | FCX vs BIL | |
| Alerian MLP ETF | -0.04 | 0.22 | 0.38 | 54 | MLPs | FCX vs AMLP | |
| State Street Energy Select Sector SPDR ETF | -0.02 | 0.24 | 0.41 | 50 | Energy Equities | FCX vs XLE | |
| Schwab U.S. Dividend Equity ETF | 0.27 | 0.36 | 0.46 | 86 | Dividend | FCX vs SCHD |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from FCX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FCX and solid risk/return profiles. The least correlated is Cheniere Energy, Inc. (LNG) (Energy) with a 1Y correlation of -0.19, down from 0.25 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cheniere Energy, Inc. | -0.19 | 0.09 | 0.25 | 58 | Energy | |
| Waste Management, Inc. | -0.16 | -0.05 | 0.09 | 53 | Industrials | |
| Duke Energy Corporation | -0.08 | 0.03 | 0.07 | 66 | Utilities | |
| EOG Resources, Inc. | -0.07 | 0.18 | 0.33 | 63 | Energy | |
| Phillips 66 | -0.06 | 0.17 | 0.31 | 88 | Energy |
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