FCX vs VEA: Correlation
Measured on weekly returns over the past three years, Freeport-McMoRan (FCX) and Vanguard FTSE Developed Markets ETF (VEA) carry a correlation of 0.67, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FCX and VEA?
On 3 years of weekly data the FCX/VEA correlation comes out at 0.67, strong. Recent behaviour matches the longer record: 0.61 over 1 year against 0.67 over 3. The 5-year figure is 0.65, and annualized covariance runs at 435.2 %².
Among the 34 assets we track against FCX, VEA ranks #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FCX ahead by 52.2 points (+80.7% versus +28.5%). Across three years, the rolling one-year figure varied moderately, from 0.55 to 0.81. Note the risk asymmetry: FCX runs 2.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 VEA: side by side
| FCX (Freeport-McMoRan) | VEA (Vanguard FTSE Developed Markets ETF) | |
|---|---|---|
| 1-year return | +80.7% | +28.5% |
| 5-year return | +129.3% | +63.5% |
| Volatility (ann.) | 43.2% | 15.1% |
| Beta vs S&P 500 | 1.55 | 0.79 |
| Max drawdown (3Y) | -46.3% | -13.5% |
| Market cap | $112.6B | – |
| P/E (trailing) | 38.8 | – |
| Dividend yield | 0.76% | 2.56% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $314.9B |
| Sector / category | Materials | ETF · International |
VEA is a Foreign Large Blend fund from Vanguard: $314.9B under management, 3769 holdings, a 0.03% expense ratio, a 2.56% trailing dividend yield.
Year-by-year returns
| Year | FCX | VEA |
|---|---|---|
| 2022 | -7.3% | -15.3% |
| 2023 | +13.7% | +17.9% |
| 2024 | -9.4% | +3.1% |
| 2025 | +35.4% | +35.2% |
| 2026 | +55.5% | +18.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FCX and VEA good diversifiers for each other?
To a limited degree. At 0.67 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 VEA?
The FCX/VEA correlation stands at 0.67 on a 3-year window (1 year: 0.61, 5 years: 0.65), computed from weekly returns as of 2026-08-27.
Is VEA a good diversifier for FCX?
To a limited degree. At 0.67 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 0.67 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-vea.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fcx-vs-vea/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FCX correlations · VEA correlations
