FCX vs PPG: Correlation
How closely do Freeport-McMoRan (FCX) and PPG Industries (PPG) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FCX and PPG?
Across a 3-year window, the weekly returns of FCX and PPG correlate at 0.53, moderate. Little has changed lately, as the 1-year reading of 0.48 lands near the 3-year figure. Stretching to 5 years gives 0.45, with an annualized covariance of 582.3 %².
By 3-year correlation, PPG places #17 of the 34 assets tracked against FCX. Correlation aside, the last 12 months split them widely, with FCX ahead by 76.9 points (+80.7% versus +3.8%). Across three years, the rolling one-year figure varied moderately, from 0.40 to 0.66. One caveat on sizing: FCX is 1.7 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 PPG: side by side
| FCX (Freeport-McMoRan) | PPG (PPG Industries) | |
|---|---|---|
| 1-year return | +80.7% | +3.8% |
| 5-year return | +129.3% | -22.0% |
| Volatility (ann.) | 43.2% | 25.5% |
| Beta vs S&P 500 | 1.55 | 0.90 |
| Max drawdown (3Y) | -46.3% | -37.4% |
| Market cap | $112.6B | $25.2B |
| P/E (trailing) | 38.8 | 16.4 |
| Dividend yield | 0.76% | 2.48% |
| Sector / category | Materials | Materials |
Year-by-year returns
| Year | FCX | PPG |
|---|---|---|
| 2022 | -7.3% | -25.7% |
| 2023 | +13.7% | +21.2% |
| 2024 | -9.4% | -18.5% |
| 2025 | +35.4% | -12.0% |
| 2026 | +55.5% | +12.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FCX and PPG good diversifiers for each other?
To a limited degree. At 0.53 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 FCX and PPG?
As of 2026-08-27, the correlation of weekly returns between FCX and PPG is 0.53 over 3 years, 0.48 over 1 year and 0.45 over 5 years.
Is PPG a good diversifier for FCX?
To a limited degree. At 0.53 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 0.53 mean?
A reading of 0.53 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-ppg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fcx-vs-ppg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FCX correlations · PPG correlations
