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Fresnillo plc (FRES.L) Diversifiers

Equity · Currency in GBp · Last updated Jun 5, 2026

Fresnillo plc mines, develops, and produces non-ferrous minerals in Mexico. It operates through seven segments: Fresnillo, Saucito, Ciénega, Herradura, Noche Buena, San Julián, and Juanicipio. The company primarily explores for silver, gold, lead, and zinc concentrates. Its projects include the Fresnillo silver mine located in the state of Zacatecas; Saucito silver mine situated in the state of Zacatecas; Ciénega gold mine located in the state of Durango; Herradura gold mine situated in the state of Sonora; Noche Buena gold mine located in the state of Sonora; San Julián silver-gold mine situated on the border of Chihuahua/Durango states; and Juanicipio mine located in the state of Zacatecas. It also leases mining equipment; produces gold/silver doré bars; and provides administrative services. The company was founded in 1887 and is headquartered in Mexico City, Mexico. Fresnillo plc operates as a subsidiary of Industrias Peñoles S.A.B. de C.V.

Looking to balance out your exposure to FRES.L? The ETFs below have the lowest correlation with FRES.L — they tend to move on their own, which can help reduce risk when FRES.L drops. The stock ideas table highlights individual companies that behave independently from FRES.L.

Best Diversifiers for FRES.L

0 ETFs have low correlation with FRES.L (below 0.3), 0 of which are negatively correlated. The least correlated is Lyxor MSCI New Energy ESG Filtered (DR) UCITS ETF - Dist (NRJL.L) (Energy Equities) with a 1Y correlation of 0.31, roughly unchanged from 0.29 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
NRJL.L
Lyxor MSCI New Energy ESG Filtered (DR) UCITS ETF ...0.310.330.29
96
Energy EquitiesFRES.L vs NRJL.L
REGB.L
VanEck Rare Earth and Strategic Metals UCITS ETF A0.480.390.35
89
Precious MetalsFRES.L vs REGB.L
SSLN.L
iShares Physical Silver ETC0.700.640.60
56
Silver, Precious MetalsFRES.L vs SSLN.L
SILG.L
Global X Silver Miners UCITS ETF USD Accumulating0.810.74—
54
Silver, Commodity Producers Equities, Precious MetalsFRES.L vs SILG.L

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from FRES.L, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to FRES.L and solid risk/return profiles. The least correlated is Airtel Africa plc (AAF.L) (Communication Services) with a 1Y correlation of 0.12, roughly unchanged from 0.15 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
AAF.L
Airtel Africa plc0.120.220.15
88
Communication Services
GDWN.L
Goodwin plc0.170.090.05
76
Industrials
GLEN.L
Glencore plc0.430.440.37
96
Basic Materials
GGP.L
Greatland Gold plc0.450.280.21
87
Basic Materials
ATYM.L
Atalaya Mining Ltd0.500.410.30
82
Basic Materials
See all 9 low-correlation stocks for FRES.L

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Diversification Analysis

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