FCX vs IBAC: Correlation
Measured on weekly returns over the past three years, Freeport-McMoRan (FCX) and IB Acquisition Corp. (IBAC) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FCX and IBAC?
Over the past 3 years, FCX and IBAC moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.20 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -19.5 %².
Among the 34 assets we track against FCX, IBAC sits near the bottom by co-movement, at rank #30. Their recent paths diverged sharply: over the last 12 months FCX outperformed by 77.4 percentage points (+80.7% for FCX against +3.3% for IBAC). Risk is not evenly split, since FCX carries 20.6 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 IBAC: side by side
| FCX (Freeport-McMoRan) | IBAC (IB Acquisition Corp.) | |
|---|---|---|
| 1-year return | +80.7% | +3.3% |
| 5-year return | +129.3% | n/a |
| Volatility (ann.) | 43.2% | 2.1% |
| Beta vs S&P 500 | 1.55 | -0.00 |
| Max drawdown (3Y) | -46.3% | -3.2% |
| Market cap | $112.6B | $0.1B |
| P/E (trailing) | 38.8 | – |
| Dividend yield | 0.76% | 0.00% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | FCX | IBAC |
|---|---|---|
| 2022 | -7.3% | – |
| 2023 | +13.7% | – |
| 2024 | -9.4% | – |
| 2025 | +35.4% | +3.7% |
| 2026 | +55.5% | +3.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FCX and IBAC good diversifiers for each other?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FCX and IBAC?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.20 over the last year and n/a over 5 years.
Is IBAC a good diversifier for FCX?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.20 mean?
A reading of -0.20 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: FCX correlations · IBAC correlations
