Looking to balance out your exposure to FCX? The ETFs below have historically moved differently from FCX, which may reduce portfolio volatility when combined in a suitable allocation. The stock ideas table highlights individual companies with the same low-correlation characteristics. Correlation can change and does not guarantee that one asset will rise when another falls.
Best Diversifiers for FCX
8 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 -0.13, roughly unchanged from -0.04 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | -0.13 | -0.06 | -0.04 | 100 | Ultrashort Bond | FCX vs SGOV | |
| SPDR Bloomberg 1-3 Month T-Bill ETF | -0.08 | -0.04 | 0.02 | 100 | Government Bonds, Ultrashort Bond | FCX vs BIL | |
| Alerian MLP ETF | -0.06 | 0.20 | 0.37 | 66 | MLPs | FCX vs AMLP | |
| State Street Energy Select Sector SPDR ETF | -0.03 | 0.23 | 0.39 | 76 | Energy Equities | FCX vs XLE | |
| State Street Health Care Select Sector SPDR ETF | 0.13 | 0.22 | 0.28 | 72 | Health & Biotech Equities | FCX vs XLV |
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Low-Correlation Stock Ideas
The table shows companies with at least $1B in market capitalization, historical correlation data for FCX, and a Risk / Return Rank of 50 or higher. Treat them as research candidates rather than evidence that they will offset a future decline. The least correlated is Cheniere Energy, Inc. (LNG) (Energy) with a 1Y correlation of -0.18, down from 0.24 over 5 years.
How candidates are selected| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| Cheniere Energy, Inc. | -0.18 | 0.08 | 0.24 | 57 | Energy | |
| VeriSign, Inc. | -0.16 | 0.04 | 0.18 | 53 | Technology | |
| Duke Energy Corporation | -0.13 | 0.00 | 0.06 | 56 | Utilities | |
| The Coca-Cola Company | -0.09 | 0.00 | 0.09 | 90 | Consumer Defensive | |
| Apache Corporation | -0.09 | 0.19 | 0.36 | 90 | Energy |
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