MP vs. FCX
MP (MP Materials Corp.) and FCX (Freeport-McMoRan Inc.) are both stocks. Both are in the Basic Materials sector — MP in Other Industrial Metals & Mining, FCX in Copper. Over the past 5 years, MP returned 14.58%/yr vs 16.03%/yr for FCX. At a 0.45 correlation, their price movements are largely independent.
Performance
MP vs. FCX - Performance Comparison
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Returns By Period
In the year-to-date period, MP achieves a 20.43% return, which is significantly lower than FCX's 36.61% return.
MP
- 1D
- 6.64%
- 1M
- 7.36%
- YTD
- 20.43%
- 6M
- 16.93%
- 1Y
- 71.48%
- 3Y*
- 38.76%
- 5Y*
- 14.58%
- 10Y*
- —
FCX
- 1D
- -1.55%
- 1M
- 14.15%
- YTD
- 36.61%
- 6M
- 45.10%
- 1Y
- 68.87%
- 3Y*
- 21.69%
- 5Y*
- 16.03%
- 10Y*
- 21.17%
MP vs. FCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
MP MP Materials Corp. | 20.43% | 223.85% | -21.41% | -18.25% | -46.54% | 41.19% | 224.95% |
FCX Freeport-McMoRan Inc. | 36.61% | 35.41% | -9.41% | 13.69% | -7.91% | 61.41% | 147.81% |
Correlation
The correlation between MP and FCX is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2020 | 0.45 |
The correlation between MP and FCX shifts across timeframes, from 0.38 (1 year) to 0.49 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
MP:
-$0.53
FCX:
$1.89
MP:
26.81
FCX:
3.77
MP:
$305.30M
FCX:
$26.42B
MP:
$25.30M
FCX:
$7.35B
MP:
$1.52M
FCX:
$9.59B
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Return for Risk
MP vs. FCX — Risk / Return Rank
MP
FCX
MP vs. FCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MP Materials Corp. (MP) and Freeport-McMoRan Inc. (FCX). 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.
| MP | FCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.63 | ||
| Sortino ratioReturn per unit of downside risk | +0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.26 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.34 | 2.78 | -1.44 |
| Martin ratioReturn relative to average drawdown | 2.21 | 6.93 | -4.72 |
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Drawdowns
MP vs. FCX - Drawdown Comparison
The maximum MP drawdown since its inception was -81.99%, smaller than the maximum FCX drawdown of -92.52%. Use the drawdown chart below to compare losses from any high point for MP and FCX.
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Drawdown Indicators
| MP | FCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.99% | -92.52% | +10.53% |
Max Drawdown (1Y)Largest decline over 1 year | -53.79% | -24.90% | -28.89% |
Max Drawdown (3Y)Largest decline over 3 years | -59.47% | -46.34% | -13.13% |
Max Drawdown (5Y)Largest decline over 5 years | -81.99% | -51.47% | -30.52% |
Max Drawdown (10Y)Largest decline over 10 years | — | -72.59% | — |
Current DrawdownCurrent decline from peak | -38.33% | -3.71% | -34.62% |
Average DrawdownAverage peak-to-trough decline | -42.59% | -39.60% | -2.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 32.46% | 9.97% | +22.49% |
Volatility
MP vs. FCX - Volatility Comparison
MP Materials Corp. (MP) has a higher volatility of 22.99% compared to Freeport-McMoRan Inc. (FCX) at 16.71%. This indicates that MP's price experiences larger fluctuations and is considered to be riskier than FCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MP | FCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.99% | 16.71% | +6.28% |
Volatility (6M)Calculated over the trailing 6-month period | 51.41% | 37.46% | +13.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 91.82% | 48.92% | +42.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 69.64% | 45.04% | +24.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 72.64% | 48.59% | +24.05% |
Dividends
MP vs. FCX - Dividend Comparison
MP has not paid dividends to shareholders, while FCX's dividend yield for the trailing twelve months is around 0.87%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCX Freeport-McMoRan Inc. | 0.87% | 1.18% | 1.58% | 1.41% | 0.99% | 0.54% | 0.19% | 1.52% | 1.45% | 0.00% | 0.00% | 8.46% |
MP MP Materials Corp. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
MP vs. FCX - Financials Comparison
This section allows you to compare key financial metrics between MP Materials Corp. and Freeport-McMoRan Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
MP vs. FCX - Profitability Comparison
MP - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, MP Materials Corp. reported a gross profit of 0.00 and revenue of 90.65M. Therefore, the gross margin over that period was 0.0%.
FCX - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Freeport-McMoRan Inc. reported a gross profit of 1.66B and revenue of 6.23B. Therefore, the gross margin over that period was 26.6%.
MP - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, MP Materials Corp. reported an operating income of 0.00 and revenue of 90.65M, resulting in an operating margin of 0.0%.
FCX - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Freeport-McMoRan Inc. reported an operating income of 2.14B and revenue of 6.23B, resulting in an operating margin of 34.3%.
MP - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, MP Materials Corp. reported a net income of -7.97M and revenue of 90.65M, resulting in a net margin of -8.8%.
FCX - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Freeport-McMoRan Inc. reported a net income of 881.00M and revenue of 6.23B, resulting in a net margin of 14.1%.
Frequently Asked Questions
MP and FCX have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MP has higher volatility (22.99%) compared to FCX (16.71%). In terms of maximum drawdown, MP dropped -81.99% vs FCX's -92.52%.
FCX currently has the higher Sharpe Ratio (1.42 vs 0.78), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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