ERO vs FCX: Correlation
Measured on weekly returns over the past three years, Ero Copper Corp. (ERO) and Freeport-McMoRan (FCX) carry a correlation of 0.69, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ERO and FCX?
Over the past 3 years, ERO and FCX moved with a correlation of 0.69, which is strong. Recent behaviour matches the longer record: 0.62 over 1 year against 0.69 over 3. Over 5 years the correlation is 0.66, and the annualized covariance of weekly returns is 1620.2 %².
Among the 10 assets we track against ERO, FCX ranks #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ERO ahead by 93.7 points (+174.4% versus +80.7%).
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.
ERO vs FCX: side by side
| ERO (Ero Copper Corp.) | FCX (Freeport-McMoRan) | |
|---|---|---|
| 1-year return | +174.4% | +80.7% |
| 5-year return | +110.6% | +129.3% |
| Volatility (ann.) | 54.7% | 43.2% |
| Beta vs S&P 500 | 1.53 | 1.55 |
| Max drawdown (3Y) | -59.7% | -46.3% |
| Market cap | $4.2B | $112.6B |
| P/E (trailing) | 13.3 | 38.8 |
| Dividend yield | 0.00% | 0.76% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | ERO | FCX |
|---|---|---|
| 2022 | -10.1% | -7.3% |
| 2023 | +14.8% | +13.7% |
| 2024 | -14.6% | -9.4% |
| 2025 | +109.9% | +35.4% |
| 2026 | +40.8% | +55.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ERO and FCX good diversifiers for each other?
To a limited degree. At 0.69 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between ERO and FCX?
The ERO/FCX correlation stands at 0.69 on a 3-year window (1 year: 0.62, 5 years: 0.66), computed from weekly returns as of 2026-08-27.
Is FCX a good diversifier for ERO?
To a limited degree. At 0.69 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.69 mean?
A reading of 0.69 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ero-vs-fcx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ero-vs-fcx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ERO correlations · FCX correlations
