FCX vs IAF: Correlation
Freeport-McMoRan (FCX) and abrdn Australia Equity Fund, Inc. (IAF) show a strong relationship: their 3-year correlation of weekly returns is 0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FCX and IAF?
Across a 3-year window, the weekly returns of FCX and IAF correlate at 0.60, strong. Little has changed lately, as the 1-year reading of 0.59 lands near the 3-year figure. Stretching to 5 years gives 0.62, with an annualized covariance of 483.8 %².
By 3-year correlation, IAF places #14 of the 34 assets tracked against FCX. Their recent paths diverged sharply: over the last 12 months FCX outperformed by 71.7 percentage points (+80.7% for FCX against +9.0% for IAF). Risk is not evenly split, since FCX carries 2.3 times the volatility of the other side.
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.
FCX vs IAF: side by side
| FCX (Freeport-McMoRan) | IAF (abrdn Australia Equity Fund, Inc.) | |
|---|---|---|
| 1-year return | +80.7% | +9.0% |
| 5-year return | +129.3% | +23.6% |
| Volatility (ann.) | 43.2% | 18.6% |
| Beta vs S&P 500 | 1.55 | 0.88 |
| Max drawdown (3Y) | -46.3% | -23.6% |
| Market cap | $112.6B | $0.1B |
| P/E (trailing) | 38.8 | 7.7 |
| Dividend yield | 0.76% | 10.76% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | FCX | IAF |
|---|---|---|
| 2022 | -7.3% | -19.4% |
| 2023 | +13.7% | +10.4% |
| 2024 | -9.4% | +8.2% |
| 2025 | +35.4% | +14.9% |
| 2026 | +55.5% | +12.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FCX and IAF good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FCX and IAF?
The FCX/IAF correlation stands at 0.60 on a 3-year window (1 year: 0.59, 5 years: 0.62), computed from weekly returns as of 2026-08-27.
Is IAF a good diversifier for FCX?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 mean?
On the −1 to +1 scale, 0.60 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
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Related comparisons
Hubs: FCX correlations · IAF correlations
