# How Freeport-McMoRan (FCX) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/fcx
> Data as of October 20, 2026. Total returns include reinvested dividends. Past performance does not predict future results; nothing here is investment advice.

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on FCX alone. It places FCX (Freeport-McMoRan Inc.) against 17 popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where FCX stands in the market, and of the alternatives worth a closer look.

Period covered: FCX's full trading record, from July 1995 through September 2026. All returns include reinvested dividends. Data as of October 20, 2026.

## Key findings

- **Right now:** FCX has outpaced the market, rising 17.4% over the past 3 months against 3.9% for the S&P 500 and 3.2% for the Nasdaq 100. Its metals & mining peers split over the past 3 months: AEM (Agnico Eagle Mines) rose 36.9%, while VALE fell 5.5%.
- **Stock or market?:** More than an industry move: FCX rose 17.4% over the past 3 months, against 7.2% for the metals & mining ETF COPX (Global X - Copper Miners ETF). The S&P 500 rose 3.9%. Its metals & mining peers did not move as one over the past 3 months: AEM (Agnico Eagle Mines) rose 36.9%, while VALE fell 5.5%.
- **Past 1 to 3 years:** Over the past year, FCX rose 64.8% against 15.8% for the S&P 500 and 17.9% for the Nasdaq 100. The same gap shows up over 3 years (111% against 89.3%).
- **Long term:** FCX turned $10,000 into $75,000 over the past decade, against $42,100 in the S&P 500. FCX's 10-year return of 650% puts it ahead of 90% of the stocks worth at least $300 million with that much history. The S&P 500 returned 321%.
- **In a crash:** Across seven sell-offs, FCX has typically fallen 2.3 times as far as the S&P 500.
- **Diversification:** Against the S&P 500, FCX has a correlation of 0.54 over 5 years, more closely than 80% of stocks worth at least $300 million. Next to an index fund it is some diversification, but not a hedge. Over 10 years, FCX's beta versus the S&P 500 was 1.74: in the S&P 500's rising months it gained 1.6 times as much as the index, and in falling months it lost 1.8 times as much.
- **Better options**
  - **Popular alternatives:** NEM (Newmont), SCCO (Southern Copper) and AEM (Agnico Eagle Mines) earned more than FCX with less volatility over the past 5 years. NEM returned 18.6% a year at 39.1% volatility, against 13.7% a year at 44.9%.
  - **Nearby categories and themes:** MOG-A (Moog, aerospace & defense) and ESLT (Elbit Systems, aerospace & defense) earned more than FCX with less volatility over the past 5 years. MOG-A returned 36.6% a year at 32.0% volatility, against 13.7% a year at 44.9%.
  - **Whole market:** 459 of the 3,633 stocks and funds worth at least $500 million earned more than FCX with less volatility over the past 5 years, among them AAPL (Apple), GOOG (Alphabet) and TSM (Taiwan Semiconductor Manufacturing).

## How much would $10,000 in FCX have grown?

This chart tracks a hypothetical $10,000 investment in FCX over the past 29 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of FCX over the same span and FCX's popular alternatives, among those that traded for the entire period.

- $10,000 invested in FCX at the end of September 1997 would have grown to $86,132 by September 2026, less than the $132,907 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of FCX, and SCCO finished highest, at $2,677,967.

## FCX at a glance

This section summarizes the key facts about the stock, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout.

- FCX's deepest decline since it began trading in 1995 was 92.5%, from January 2011 to January 2016. It took about six years from the low to climb back to its old high.
- Over 29 full calendar years, FCX's best was 2009, when it returned 228%, and its worst was 2008, when it lost 75.5%. It lost money in 12 of those years.
- FCX is 13.6% below its all-time high.

- Type: Stock, Materials (Copper)
- Trading since: July 10, 1995
- Market value: $99B
- Volatility (5 years): 44.9%; Sharpe ratio: 0.51
- Worst decline ever: −92.5%, from January 12, 2011 to January 13, 2016; back at its high by March 1, 2022

| Period | FCX total return |
| --- | --- |
| 1 month | −4.3% |
| 3 months | +17.4% |
| 6 months | −1.4% |
| year to date | +33.9% |
| 1 year | +64.8% |
| 3 years | +111% |
| 5 years | +89.6% |
| 10 years | +650% |

## FCX against the whole market

Where FCX ranks among every stock and fund, and what across the market has done better.

### How does FCX rank among all stocks?

This section ranks FCX on return, volatility, risk-adjusted return and worst decline against every stock worth at least $300 million with enough history.

- FCX's 10-year return ranks in the top 10% of the 2,202 stocks worth at least $300 million with 10 years of history.

| Measure | FCX | Rank |
| --- | --- | --- |
| 1-year return | +64.8% | 371 of 3,287 (top 12%) |
| 3-year return | +111% | 840 of 3,017 (top 28%) |
| 5-year return | +89.6% | 739 of 2,893 (top 26%) |
| 10-year return | +650% | 218 of 2,202 (top 10%) |
| Volatility, 5 years | 44.9% | 1,695 of 2,893 (top 59%) |
| Sharpe ratio, 5 years | 0.51 | 899 of 2,893 (top 32%) |
| Worst decline, past 10 years | −72.6% | 1,373 of 2,187 (top 63%) |

### What has beaten FCX on both return and risk?

Each dot is an investment, placed by how much it earned a year over the past 5 years (higher is better) and how much its price swung, its volatility (further left is calmer).

- 365 stocks and 94 ETFs worth at least $500 million sit in the green region: each earned more than FCX over the past 5 years with smaller price swings. That is 13% of the 3,633 screened.
- Among those with at least half FCX's swings, CAH has the best return for its risk: 42.1% a year at 24.7% volatility, 45% less than FCX's 44.9%, and a Sharpe ratio (return above cash per unit of volatility) of 1.55 against 0.51 for FCX. INSW earned the most, 56.5% a year, while still swinging less than FCX (40.5% against 44.9%).
- Among FCX's popular alternatives, SCCO, AEM and BHP are in the region. SCCO earned 32.0% a year against 13.7% a year for FCX, at 40.7% volatility, 9% less than FCX's 44.9%.

### Is there a better investment than FCX?

The table below lists investments that beat FCX over the past 5 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes.

- Among FCX's popular alternatives, NEM, SCCO and AEM earned more than FCX with less volatility over the past 5 years. NEM returned 18.6% a year at 39.1% volatility, against 13.7% a year at 44.9%.
- Looking beyond its popular alternatives, MOG-A (aerospace & defense) and ESLT (aerospace & defense) earned more than FCX with less volatility over the past 5 years. MOG-A returned 36.6% a year at 32.0% volatility, against 13.7% a year at 44.9%.
- Across the whole market, 459 of the 3,633 stocks and funds worth at least $500 million earned more than FCX with less volatility over the past 5 years, among them AAPL, GOOG and TSM.

The 15 strongest of 459 investments that beat FCX over the past 5 years, out of 3,633 stocks and funds worth at least $500 million.

| Investment | Group | Annual return (5 years) | Volatility | Sharpe | Worst decline (10 years) | 10Y return | Correlation with FCX | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| FCX: Freeport-McMoRan Inc. (this page) |  | +13.7% | 44.9% | 0.51 | −72.6% | +650% |  |  |
| [SOXX](https://easycompare.io/research/soxx): iShares Semiconductor ETF | Semiconductors | +27.5% | 38.9% | 0.82 | −45.8% | +1,392% | 0.42 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| HALO: Halozyme Therapeutics, Inc. | Biotechnology | +26.6% | 40.4% | 0.79 | −49.1% | +1,196% | 0.29 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| DHT: DHT Holdings, Inc. | Marine Shipping | +38.7% | 39.0% | 1.04 | −39.7% | +1,050% | 0.24 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| PSI: Invesco Semiconductors ETF | Technology | +24.3% | 41.6% | 0.73 | −44.9% | +1,134% | 0.39 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [MCK](https://easycompare.io/research/mck): McKesson Corporation | Health Care Distribution | +38.7% | 25.0% | 1.44 | −38.1% | +586% | 0.10 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| INSW: International Seaways, Inc. | Oil & Gas | +56.5% | 40.5% | 1.31 | −57.4% | — | 0.16 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [GILD](https://easycompare.io/research/gild): Gilead Sciences, Inc. | Biotechnology | +22.8% | 24.9% | 0.95 | −30.5% | +200% | 0.23 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [PSX](https://easycompare.io/research/psx): Phillips 66 | Oil & Gas | +33.2% | 32.9% | 1.04 | −64.2% | +430% | 0.33 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| NWPX: NWPX Infrastructure, Inc. | Construction Materials | +32.5% | 36.2% | 0.96 | −46.5% | +682% | 0.33 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods; Smaller losses in recent crashes |
| [GOOG](https://easycompare.io/research/goog): Alphabet Inc. | Internet Services | +19.0% | 32.0% | 0.71 | −44.6% | +752% | 0.21 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Smaller losses in recent crashes |
| [E](https://easycompare.io/research/e): Eni S.p.A. | Integrated Oil & Gas | +23.0% | 25.6% | 0.94 | −61.4% | +278% | 0.40 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [LLY](https://easycompare.io/research/lly): Eli Lilly and Company | Pharmaceuticals | +40.7% | 32.8% | 1.21 | −34.5% | +1,807% | 0.05 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Smaller losses in recent crashes |
| [HPE](https://easycompare.io/research/hpe): Hewlett Packard Enterprise Company | Computer Hardware | +32.9% | 42.2% | 0.89 | −56.9% | +483% | 0.37 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [NTAP](https://easycompare.io/research/ntap): NetApp, Inc. | Computer Hardware | +20.9% | 35.3% | 0.71 | −58.1% | +691% | 0.31 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| [CAT](https://easycompare.io/research/cat): Caterpillar Inc. | Industrial Machinery | +31.1% | 31.9% | 1.01 | −43.4% | +936% | 0.41 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Smaller losses in recent crashes |

## FCX against its popular alternatives

The investments people most often weigh against FCX, compared period by period and year by year.

### How do FCX's risk and return compare with its alternatives?

This map plots each investment's annual return over the past 5 years against its volatility, the size of its typical price swings.

- Five of the 16 popular alternatives, led by SCCO, AEM and NEM, were both more rewarding and calmer than FCX over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, FCX returned 13.7% a year, more than the S&P 500's 12.7%, with higher volatility (44.9% against 17.1%).

### Has FCX consistently beaten its popular alternatives?

This section compares FCX with the investments people most often weigh against it, checking each one over eight periods from one month to ten years.

- Two of the 17 popular alternatives, TGB and SCCO, outperformed FCX in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- SCCO, AEM and BHP earned more for the risk they took than FCX (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of FCX | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| FCX: Freeport-McMoRan Inc. (this page) | +64.8% | +111% | +89.6% | +650% |  |  | 0.51 |
| TGB: Trekor Metals Limited | +100% | +616% | +249% | +1,667% | 3/5 short-term, 3/3 long-term | consistent | 0.71 |
| [SCCO](https://easycompare.io/research/scco): Southern Copper Corporation | +56.5% | +233% | +301% | +1,017% | 3/5 short-term, 3/3 long-term | consistent | 0.89 |
| [NEM](https://easycompare.io/research/nem): Newmont Corporation | +24.3% | +219% | +135% | +304% | 2/5 short-term, 2/3 long-term |  | 0.63 |
| [AEM](https://easycompare.io/research/aem): Agnico Eagle Mines Limited | +5.3% | +293% | +264% | +352% | 1/5 short-term, 2/3 long-term |  | 0.87 |
| HBM: Hudbay Minerals Inc. | +44.2% | +445% | +221% | +493% | 0/5 short-term, 2/3 long-term |  | 0.70 |
| COPX: Global X - Copper Miners ETF | +30.5% | +151% | +122% | +471% | 0/5 short-term, 2/3 long-term |  | 0.62 |
| CENX: Century Aluminum Company | −2.2% | +452% | +109% | +358% | 0/5 short-term, 2/3 long-term |  | 0.56 |
| TECK: Teck Resources Limited | +46.2% | +68.6% | +141% | +259% | 3/5 short-term, 1/3 long-term |  | 0.61 |
| [BHP](https://easycompare.io/research/bhp): BHP Group Limited | +50.2% | +71.0% | +115% | +398% | 2/5 short-term, 1/3 long-term |  | 0.65 |
| ERO: Ero Copper Corp. | +45.0% | +138% | +59.8% | — | 2/5 short-term, 1/3 long-term |  | 0.45 |
| NEXA: Nexa Resources S.A. | +121% | +135% | +23.1% | — | 2/5 short-term, 1/3 long-term |  | 0.36 |
| GOLD: Gold.com, Inc. | +39.4% | +45.4% | +35.5% | +603% | 0/5 short-term, 0/3 long-term |  | 0.37 |
| [RIO](https://easycompare.io/research/rio): Rio Tinto Group | +30.1% | +69.2% | +77.9% | +464% | 0/5 short-term, 0/3 long-term |  | 0.54 |
| [VALE](https://easycompare.io/research/vale): Vale S.A. | +23.6% | +37.8% | +42.6% | +334% | 0/5 short-term, 0/3 long-term |  | 0.38 |
| PICK: iShares MSCI Global Metals & Mining Producers ETF | +27.9% | +73.1% | +63.9% | +267% | 0/5 short-term, 0/3 long-term |  | 0.49 |
| AA: Alcoa Corporation | +5.5% | +75.8% | −18.2% | +115% | 0/5 short-term, 0/3 long-term |  | 0.20 |
| IE: Ivanhoe Electric Inc. | −49.6% | −22.0% | — | — | 0/5 short-term, 0/3 long-term |  | — |

### How did FCX do year by year?

This table shows each investment's total return in every full calendar year since 1997, along with where FCX ranked among its popular alternatives each year.

- FCX finished ahead of the S&P 500 in 14 of its 29 full calendar years.
- Among its popular alternatives, SCCO came out ahead of FCX most often, in 21 of the 29 years both traded.
- Ranked against its popular alternatives each year, FCX finished in the top quarter in seven of 29 years and in the bottom quarter in five. In 2025, it ranked 14 of 18.

| Year | FCX | SPY |
| --- | --- | --- |
| 2025 | +35.4% | +17.7% |
| 2024 | −9.4% | +24.9% |
| 2023 | +13.7% | +26.2% |
| 2022 | −7.3% | −18.2% |
| 2021 | +61.4% | +28.7% |
| 2020 | +99.1% | +18.3% |
| 2019 | +29.6% | +31.2% |
| 2018 | −45.1% | −4.6% |
| 2017 | +43.8% | +21.7% |
| 2016 | +94.9% | +12.0% |

## Risk and diversification

How FCX has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.

### What were FCX's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high.

- In all five of FCX's worst declines, the S&P 500 held up better over the same dates.
- Not every decline was the market's doing: FCX fell 92.5% from January 2011 to January 2016, while the S&P 500 rose 62.7%.
- The slowest recovery came after FCX fell 92.5% from January 2011 to January 2016; it did not regain that peak until March 2022, six years later.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −92.5% | January 12, 2011 | January 13, 2016 | March 1, 2022 | +62.7% | 2015 China and oil sell-off |
| −86.4% | May 20, 2008 | December 5, 2008 | January 11, 2011 | −37.4% | 2008 financial crisis |
| −80.1% | May 15, 1996 | November 17, 2000 | September 19, 2003 | +118% | dot-com bust |
| −51.3% | March 25, 2022 | July 14, 2022 | April 9, 2024 | −16.2% | 2022 bear market |
| −46.3% | May 20, 2024 | April 4, 2025 | January 5, 2026 | −3.5% |  |

### How did FCX do in stock market crashes?

This section measures how far FCX, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000.

- FCX fell further than the S&P 500 in all ten crashes it has traded through. The clearest case was the 2015 China and oil sell-off, when FCX fell 72.2% and the S&P 500 fell 12.8%.
- Among its popular alternatives, SCCO held up best, falling less than FCX in all ten crashes they both traded through.

| Crash | Dates | FCX fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | −51.4% | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | −86.4% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | −2.1% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −46.7% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −72.2% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −8.4% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −32.8% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −56.1% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −51.3% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −7.2% | −3.4% |

### How closely does FCX move with the S&P 500?

Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell.

- Nine of the 14 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than FCX's 0.90, led by GOLD, NEM and SCCO.
- SCCO took just 103% of the S&P 500's losses, against 181% for FCX, while still keeping 139% of its gains.
- Over the past 10 years, FCX captured 164% of the S&P 500's gains in rising months and 181% of its losses in falling months, with a beta of 1.74. It amplified the market's moves in both directions.

Measured over the past 10 years of monthly returns against SPY.

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| FCX: Freeport-McMoRan Inc. (this page) | 164% | 181% | 1.74 |
| TGB: Trekor Metals Limited | 217% | 214% | 1.89 |
| [SCCO](https://easycompare.io/research/scco): Southern Copper Corporation | 139% | 103% | 1.13 |
| [NEM](https://easycompare.io/research/nem): Newmont Corporation | 68.0% | 45.0% | 0.39 |
| [AEM](https://easycompare.io/research/aem): Agnico Eagle Mines Limited | 77.0% | 57.0% | 0.70 |
| HBM: Hudbay Minerals Inc. | 193% | 234% | 1.95 |
| COPX: Global X - Copper Miners ETF | 144% | 155% | 1.35 |
| CENX: Century Aluminum Company | 218% | 296% | 2.41 |
| TECK: Teck Resources Limited | 115% | 128% | 1.10 |
| [BHP](https://easycompare.io/research/bhp): BHP Group Limited | 106% | 97.0% | 0.87 |
| GOLD: Gold.com, Inc. | 70.0% | 2.0% | 0.10 |
| [RIO](https://easycompare.io/research/rio): Rio Tinto Group | 98.0% | 72.0% | 0.63 |
| [VALE](https://easycompare.io/research/vale): Vale S.A. | 100% | 88.0% | 0.74 |
| PICK: iShares MSCI Global Metals & Mining Producers ETF | 115% | 133% | 1.12 |
| AA: Alcoa Corporation | 187% | 303% | 2.17 |

### What diversifies FCX?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions).

- Moving a fifth of the money in FCX into FTLS would have cut the portfolio's volatility by 18% over the past 5 years for a small cut in its annual return (+18.2% for FCX alone, +18.0% for the mix).
- CAH made money in nine of the 12 calendar years in which FCX lost money.
- Among large ETFs, DXJ, EMLP and FTLS have moved largely independently of FCX over the past 5 years, with correlations of 0.48 or lower, and each still earned a positive 5-year return.

| Investment | Correlation with FCX | 5Y return | Volatility | Sharpe | Rose in FCX's 12 down years |
| --- | --- | --- | --- | --- | --- |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.43 | +225% | 19.1% | 1.34 | 5 of 12 |
| EMLP: First Trust North American Energy Infrastructure Fund | 0.48 | +101% | 14.5% | 1.04 | 3 of 12 |
| FTLS: First Trust Long/Short Equity ETF | 0.42 | +62.9% | 10.4% | 0.99 | 2 of 12 |
| [SMH](https://easycompare.io/research/smh): VanEck Semiconductor ETF | 0.41 | +323% | 36.9% | 0.97 | 4 of 12 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.44 | +126% | 18.9% | 0.96 | 4 of 12 |
| SPMO: Invesco S&P 500 Momentum ETF | 0.34 | +136% | 20.8% | 0.93 | 1 of 12 |
| [XLE](https://easycompare.io/research/xle): State Street Energy Select Sector SPDR ETF | 0.43 | +177% | 25.5% | 0.93 | 6 of 12 |
| EWT: iShares MSCI Taiwan ETF | 0.48 | +153% | 24.2% | 0.89 | 4 of 12 |

## Common questions

### What was FCX's worst drawdown?

FCX's deepest decline since it began trading in 1995 was 92.5%, from January 2011 to January 2016. It took about six years from the low to climb back to its old high.

### What were FCX's best and worst years?

Over 29 full calendar years, FCX's best year was 2009, when it returned 228%. Its worst was 2008, with a return of -75.5%.

### Is there a better investment than FCX?

Among FCX's popular alternatives, NEM, SCCO and AEM earned more than FCX with less volatility over the past 5 years. NEM returned 18.6% a year at 39.1% volatility, against 13.7% a year at 44.9%. Looking beyond its popular alternatives, MOG-A (aerospace & defense) and ESLT (aerospace & defense) earned more than FCX with less volatility over the past 5 years. MOG-A returned 36.6% a year at 32.0% volatility, against 13.7% a year at 44.9%.

### Is FCX more volatile than the S&P 500?

Yes. FCX's volatility over the past 5 years was 44.9%, 2.6 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, FCX's return lands within 44.9% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

### What is FCX's Sharpe ratio?

FCX's Sharpe ratio over the past 5 years was 0.51, against 0.79 for the S&P 500, so FCX earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.

### How correlated is FCX with the S&P 500?

Over the past 5 years, FCX's monthly returns had a correlation of 0.54 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They often move together: some diversification next to an index fund, but not a cushion. In the table, the correlation column measures each option against FCX instead: the lower it is, the more that option would diversify a FCX holding.

### What are the best alternatives to FCX?

Of the 17 popular alternatives we compared, two outperformed FCX in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: TGB and SCCO.

### Did FCX outperform the S&P 500?

FCX finished ahead of the S&P 500 (SPY) in 14 of 29 full calendar years. In 2025, it returned +35.4%, against +17.7% for the index.

### How did FCX do in stock market crashes?

FCX fell less than the S&P 500 (SPY) in none of the ten major crashes it has traded through, and further in ten. The clearest case was the 2015 China and oil sell-off, when FCX fell 72.2% and the S&P 500 fell 12.8%.

### What diversifies FCX?

These had a low correlation with FCX over the past 5 years and still earned a positive 5-year return: among large ETFs, DXJ (correlation 0.43), EMLP (correlation 0.48) and FTLS (correlation 0.42); among large stocks, CAH (correlation 0.21), CLS (correlation 0.04) and FIX (correlation 0.15). A correlation near zero means the two have moved largely independently.

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## Explore further

- Full page with charts: https://easycompare.io/research/fcx
- All research pages: https://easycompare.io/llms.txt
- Compare the entire market against FCX live: https://betterthanspy.com/?b=FCX&utm_source=easycompare&utm_medium=research