FCX vs LOCL: Correlation
Freeport-McMoRan (FCX) and Local Bounti Corporation (LOCL) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FCX and LOCL?
Across a 3-year window, the weekly returns of FCX and LOCL correlate at -0.19, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.01) runs above the 3-year figure (-0.19). Stretching to 5 years gives -0.05, with an annualized covariance of -1156.9 %².
Among the 34 assets we track against FCX, LOCL ranks #29 by 3-year correlation. The last year tells two different stories: FCX led by 139.5 percentage points, +80.7% for FCX against -58.8% for LOCL. One caveat on sizing: LOCL is 3.3 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 LOCL: side by side
| FCX (Freeport-McMoRan) | LOCL (Local Bounti Corporation) | |
|---|---|---|
| 1-year return | +80.7% | -58.8% |
| 5-year return | +129.3% | -99.2% |
| Volatility (ann.) | 43.2% | 142.7% |
| Beta vs S&P 500 | 1.55 | -0.49 |
| Max drawdown (3Y) | -46.3% | -79.4% |
| Market cap | $112.6B | – |
| P/E (trailing) | 38.8 | – |
| Dividend yield | 0.76% | 0.00% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | FCX | LOCL |
|---|---|---|
| 2022 | -7.3% | -78.4% |
| 2023 | +13.7% | -88.5% |
| 2024 | -9.4% | +0.0% |
| 2025 | +35.4% | +3.4% |
| 2026 | +55.5% | -53.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FCX and LOCL good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FCX and LOCL?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.01 over the last year and -0.05 over 5 years.
Is LOCL a good diversifier for FCX?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fcx-vs-locl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fcx-vs-locl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FCX correlations · LOCL correlations
