FCX vs. HG=F

Last updated Jul 14, 2026

FCX (Freeport-McMoRan Inc.) is a stock, while HG=F (Copper) is an asset. At a 0.10 correlation, their price movements are largely independent.

Performance

FCX vs. HG=F - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Freeport-McMoRan Inc. (FCX) and Copper (HG=F). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FCX

• 1D: -2.52%
• 1M: -12.34%
• 6M: 2.63%
• YTD: 18.63%
• 1Y: 30.86%
• 3Y*: 14.83%
• 5Y*: 13.04%
• 10Y*: 17.55%

HG=F

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FCX vs. HG=F - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FCX Freeport-McMoRan Inc.	18.63%	35.41%	-9.41%	13.69%	6.46%
HG=F Copper	0.00%	0.00%	0.00%	0.00%	1.29%

Correlation

The correlation between FCX and HG=F is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 31, 2022	0.10

Return for Risk

FCX vs. HG=F — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FCX

FCX Risk / Return Rank: 66
FCX Sharpe Ratio Rank: 66
FCX Sortino Ratio Rank: 61
FCX Omega Ratio Rank: 63
FCX Calmar Ratio Rank: 71
FCX Martin Ratio Rank: 71

HG=F

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FCX vs. HG=F - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Freeport-McMoRan Inc. (FCX) and Copper (HG=F). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	FCX	HG=F	Difference
Sharpe ratio: Return per unit of total volatility	0.63	—	—
Sortino ratio: Return per unit of downside risk	1.06	—	—
Omega ratio: Gain probability vs. loss probability	1.15	—	—
Calmar ratio: Return relative to maximum drawdown	1.28	—	—
Martin ratio: Return relative to average drawdown	3.06	—	—

Drawdowns

Drawdown Indicators

	FCX	HG=F	Difference
Max Drawdown Largest peak-to-trough decline	-92.52%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-24.31%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-46.34%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-51.47%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-72.59%	—	—
Current Drawdown Current decline from peak	-16.38%	—	—
Average Drawdown Average peak-to-trough decline	-39.55%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	10.18%	—	—

Volatility

Volatility by Period

	FCX	HG=F	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.76%	—	—
Volatility (6M) Calculated over the trailing 6-month period	38.48%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	49.41%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.20%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.33%	—	—

Frequently Asked Questions

Can I hold both FCX and HG=F in my portfolio?

FCX and HG=F have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.