FCX vs TGB: Correlation
Measured on weekly returns over the past three years, Freeport-McMoRan (FCX) and Trekor Metals Limited (TGB) carry a correlation of 0.70, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FCX and TGB?
Over the past 3 years, FCX and TGB moved with a correlation of 0.70, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.58 versus 0.70 over 3 years. Over 5 years the correlation is 0.70, and the annualized covariance of weekly returns is 1863.0 %².
Among the 34 assets we track against FCX, TGB ranks #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TGB outperformed by 123.7 percentage points (+80.7% for FCX against +204.4% for TGB).
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 TGB: side by side
| FCX (Freeport-McMoRan) | TGB (Trekor Metals Limited) | |
|---|---|---|
| 1-year return | +80.7% | +204.4% |
| 5-year return | +129.3% | +450.0% |
| Volatility (ann.) | 43.2% | 62.1% |
| Beta vs S&P 500 | 1.55 | 1.89 |
| Max drawdown (3Y) | -46.3% | -44.3% |
| Market cap | $112.6B | $3.5B |
| P/E (trailing) | 38.8 | 484.0 |
| Dividend yield | 0.76% | 0.00% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | FCX | TGB |
|---|---|---|
| 2022 | -7.3% | -28.3% |
| 2023 | +13.7% | -4.8% |
| 2024 | -9.4% | +38.6% |
| 2025 | +35.4% | +191.8% |
| 2026 | +55.5% | +71.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FCX and TGB good diversifiers for each other?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FCX and TGB?
The FCX/TGB correlation stands at 0.70 on a 3-year window (1 year: 0.58, 5 years: 0.70), computed from weekly returns as of 2026-08-27.
Is TGB a good diversifier for FCX?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.70 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-tgb.json
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Related comparisons
Hubs: FCX correlations · TGB correlations
