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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Copper, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
Copper (HG=F) has returned 0.39% so far this year and 12.28% over the past 12 months. Over the last ten years, HG=F has returned 10.05% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.
Copper
- 1D
- 3.21%
- 1M
- -5.87%
- YTD
- 0.39%
- 6M
- 17.63%
- 1Y
- 12.28%
- 3Y*
- 11.31%
- 5Y*
- 7.19%
- 10Y*
- 10.05%
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Aug 1, 1988, HG=F's average daily return is +4.14%, while the average monthly return is +20.72%. At this rate, your investment would double in approximately 0.3 years.
Historically, 52% of months were positive and 48% were negative. The best month was Oct 1989 with a return of +9,152.0%, while the worst month was Sep 1989 at -99.1%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 7 months.
On a daily basis, HG=F closed higher 50% of trading days. The best single day was Oct 2, 1989 with a return of +10,212.0%, while the worst single day was Oct 26, 1989 at -99.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 4.74% | 1.82% | -5.87% | 0.39% | |||||||||
| 2025 | 6.27% | 6.29% | 10.69% | -8.44% | 1.49% | 8.66% | -14.32% | 5.30% | 4.79% | 5.91% | 4.40% | 5.97% | 39.82% |
| 2024 | 0.68% | -1.79% | 4.28% | 13.79% | 0.85% | -4.61% | -4.65% | 0.04% | 8.69% | -4.43% | -5.26% | -2.33% | 3.50% |
| 2023 | 11.00% | -3.31% | 0.22% | -5.08% | -6.30% | 3.13% | 6.77% | -5.11% | -1.88% | -1.98% | 4.87% | 1.26% | 2.10% |
| 2022 | -3.07% | 2.96% | 6.68% | -7.23% | -2.48% | -13.70% | -3.64% | -1.57% | -3.03% | -1.19% | 10.90% | 1.90% | -14.63% |
| 2021 | 1.11% | 15.02% | -2.26% | 11.70% | 4.77% | -8.37% | 4.12% | -2.14% | -6.43% | 6.60% | -1.80% | 4.28% | 26.84% |
Benchmark Metrics
Copper has an annualized alpha of 2388138.79%, beta of 2.79, and R² of 0.00 versus S&P 500 Index. Calculated based on daily prices since August 02, 1988.
- This asset participated in 56.21% of S&P 500 Index downside but only 47.55% of its upside — more exposed to losses than it benefited from rallies.
- R² of 0.00 means this asset moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 2,388,138.79%
- Beta
- 2.79
- R²
- 0.00
- Upside Capture
- 47.55%
- Downside Capture
- 56.21%
Return for Risk
Risk / Return Rank
HG=F ranks 4 for risk / return — in the bottom 4% of futures on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Copper (HG=F) and compare them to a chosen benchmark (S&P 500 Index).
| HG=F | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.29 | 0.90 | -0.61 |
Sortino ratioReturn per unit of downside risk | 0.60 | 1.39 | -0.78 |
Omega ratioGain probability vs. loss probability | 1.10 | 1.21 | -0.11 |
Calmar ratioReturn relative to maximum drawdown | 0.92 | 1.40 | -0.48 |
Martin ratioReturn relative to average drawdown | 1.91 | 6.61 | -4.69 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore HG=F risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Copper. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Copper was 99.27%, occurring on Jul 20, 1989. Recovery took 3986 trading sessions.
The current Copper drawdown is 8.48%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -99.27% | Jan 24, 1989 | 123 | Jul 20, 1989 | 3986 | Jun 16, 2005 | 4109 |
| -68.86% | Jul 3, 2008 | 122 | Dec 24, 2008 | 492 | Dec 8, 2010 | 614 |
| -58.05% | Feb 15, 2011 | 1246 | Jan 15, 2016 | 1369 | May 7, 2021 | 2615 |
| -38.22% | May 12, 2006 | 186 | Feb 5, 2007 | 270 | Mar 3, 2008 | 456 |
| -34.96% | Mar 7, 2022 | 97 | Jul 14, 2022 | 488 | May 17, 2024 | 585 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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