EHGO vs FCX: Correlation
How closely do Eshallgo Inc. - Class A (EHGO) and Freeport-McMoRan (FCX) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EHGO and FCX?
Across a 3-year window, the weekly returns of EHGO and FCX correlate at -0.19, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.23 over 1 year against -0.19 over 3. Stretching to 5 years gives n/a, with an annualized covariance of -1140.6 %².
Among the 66 assets we track against EHGO, FCX ranks #25 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months FCX outperformed by 170.8 percentage points (-90.1% for EHGO against +80.7% for FCX). Note the risk asymmetry: EHGO runs 3.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
EHGO vs FCX: side by side
| EHGO (Eshallgo Inc. - Class A) | FCX (Freeport-McMoRan) | |
|---|---|---|
| 1-year return | -90.1% | +80.7% |
| 5-year return | n/a | +129.3% |
| Volatility (ann.) | 127.9% | 43.2% |
| Beta vs S&P 500 | -1.42 | 1.55 |
| Max drawdown (3Y) | -98.5% | -46.3% |
| Market cap | – | $112.6B |
| P/E (trailing) | – | 38.8 |
| Dividend yield | 0.00% | 0.76% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | EHGO | FCX |
|---|---|---|
| 2022 | – | -7.3% |
| 2023 | – | +13.7% |
| 2024 | – | -9.4% |
| 2025 | -94.4% | +35.4% |
| 2026 | -65.9% | +55.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EHGO and FCX good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between EHGO and FCX?
As of 2026-08-27, the correlation of weekly returns between EHGO and FCX is -0.19 over 3 years, -0.23 over 1 year and n/a over 5 years.
Is FCX a good diversifier for EHGO?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 mean?
A reading of -0.19 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: EHGO correlations · FCX correlations
