FCX vs SCCO: Correlation
How closely do Freeport-McMoRan (FCX) and Southern Copper Corporation (SCCO) trade together? Their weekly returns over three years give a correlation of 0.82, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FCX and SCCO?
On 3 years of weekly data the FCX/SCCO correlation comes out at 0.82, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.73) sits close to the 3-year figure. The 5-year figure is 0.83, and annualized covariance runs at 1447.7 %².
In FCX's tracked universe of 34 assets, SCCO sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months SCCO outperformed by 53.8 percentage points (+80.7% for FCX against +134.5% for SCCO).
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 SCCO: side by side
| FCX (Freeport-McMoRan) | SCCO (Southern Copper Corporation) | |
|---|---|---|
| 1-year return | +80.7% | +134.5% |
| 5-year return | +129.3% | +339.2% |
| Volatility (ann.) | 43.2% | 40.8% |
| Beta vs S&P 500 | 1.55 | 1.32 |
| Max drawdown (3Y) | -46.3% | -39.7% |
| Market cap | $112.6B | $182.6B |
| P/E (trailing) | 38.8 | 32.0 |
| Dividend yield | 0.76% | 1.65% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | FCX | SCCO |
|---|---|---|
| 2022 | -7.3% | +4.2% |
| 2023 | +13.7% | +50.0% |
| 2024 | -9.4% | +9.4% |
| 2025 | +35.4% | +66.5% |
| 2026 | +55.5% | +55.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FCX and SCCO good diversifiers for each other?
No. With a correlation of 0.82, FCX and SCCO move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between FCX and SCCO?
Using weekly returns as of 2026-08-27: 0.82 over 3 years, with 0.73 over the last year and 0.83 over 5 years.
Is SCCO a good diversifier for FCX?
No. With a correlation of 0.82, FCX and SCCO move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.82 mean?
A reading of 0.82 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-scco.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fcx-vs-scco/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FCX correlations · SCCO correlations
