FCX vs MACI: Correlation
Measured on weekly returns over the past three years, Freeport-McMoRan (FCX) and Melar Acquisition Corp. I - Class A (MACI) carry a correlation of -0.17, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FCX and MACI?
Across a 3-year window, the weekly returns of FCX and MACI correlate at -0.17, 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. Stretching to 5 years gives n/a, with an annualized covariance of -16.5 %².
Among the 34 assets we track against FCX, MACI ranks #26 by 3-year correlation. The last year tells two different stories: FCX led by 76.3 percentage points, +80.7% for FCX against +4.4% for MACI. 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 MACI: side by side
| FCX (Freeport-McMoRan) | MACI (Melar Acquisition Corp. I - Class A) | |
|---|---|---|
| 1-year return | +80.7% | +4.4% |
| 5-year return | +129.3% | n/a |
| Volatility (ann.) | 43.2% | 2.1% |
| Beta vs S&P 500 | 1.55 | -0.03 |
| Max drawdown (3Y) | -46.3% | -2.0% |
| Market cap | $112.6B | $0.2B |
| P/E (trailing) | 38.8 | 60.9 |
| Dividend yield | 0.76% | 0.00% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | FCX | MACI |
|---|---|---|
| 2022 | -7.3% | – |
| 2023 | +13.7% | – |
| 2024 | -9.4% | – |
| 2025 | +35.4% | +5.7% |
| 2026 | +55.5% | +3.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FCX and MACI good diversifiers for each other?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FCX and MACI?
As of 2026-08-27, the correlation of weekly returns between FCX and MACI is -0.17 over 3 years, -0.20 over 1 year and n/a over 5 years.
Is MACI a good diversifier for FCX?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.17 mean?
A reading of -0.17 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/fcx-vs-maci.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fcx-vs-maci/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FCX correlations · MACI correlations
