Compare two stocks
NEM and FCX clearly differ on 1 of 19 forces. The widest gap is gold: in weeks when the price of gold rose 5%, NEM typically moved +7.4% and FCX +3.7%.
| Economic force | NEMNewmont | FCXFreeport-McMoRan |
|---|---|---|
| Interest ratesIn weeks when the 10-year Treasury yield rose 0.25 percentage points | −0.39%−4.0% to +3.2%Not distinguishable from zero | +0.21%−1.3% to +1.7%Not distinguishable from zero |
| Inflation expectationsIn weeks when 10-year inflation expectations rose 0.25 percentage points | +1.2%−4.8% to +7.3%Not distinguishable from zero | +2.0%−2.2% to +6.1%Not distinguishable from zero |
| U.S. dollarIn weeks when the trade-weighted U.S. dollar rose 2% | −7.4%−9.7% to −5.2%Clear | −5.5%−7.6% to −3.3%Clear |
| Oil and energyIn weeks when the price of oil rose 10% | +0.62%−0.74% to +2.0%Not distinguishable from zero | −1.1%−2.2% to +0.04%Not distinguishable from zero |
| Credit spreadsIn weeks when corporate credit spreads widened 0.25 percentage points | +2.2%−1.2% to +5.6%Not distinguishable from zero | −4.2%−8.3% to −0.19%Tentative |
| Short-term ratesIn weeks when the 2-year Treasury yield rose 0.25 percentage points | −0.16%−4.6% to +4.3%Not distinguishable from zero | −0.73%−3.9% to +2.5%Not distinguishable from zero |
| Market volatilityIn weeks when market volatility (the VIX) rose 5 points | −0.61%−2.0% to +0.79%Not distinguishable from zero | −1.7%−3.4% to 0.00%Tentative |
| Mortgage ratesIn weeks when the 30-year mortgage rate rose 0.25 percentage points | +0.58%−0.92% to +2.1%Not distinguishable from zero | +1.4%−0.24% to +2.9%Not distinguishable from zero |
| GoldIn weeks when the price of gold rose 5%Clear difference | +7.4%+6.4% to +8.4%Clear | +3.7%+2.5% to +4.8%Clear |
| CopperIn weeks when the price of copper rose 5% | +2.2%+0.93% to +3.6%Tentative | +3.8%+2.3% to +5.2%Clear |
| Natural gasIn weeks when the U.S. natural gas price (Henry Hub) rose 10% | +0.02%−0.06% to +0.10%Not distinguishable from zero | +0.01%−0.03% to +0.04%Not distinguishable from zero |
| BitcoinIn weeks when the price of bitcoin rose 10% | +0.13%−0.85% to +1.1%Not distinguishable from zero | +0.13%−1.1% to +1.4%Not distinguishable from zero |
| Small vs large companiesIn weeks when small companies beat large ones by 1 percentage point | +0.43%+0.02% to +0.83%Tentative | +0.34%−0.08% to +0.76%Not distinguishable from zero |
| Value vs growthIn weeks when value stocks beat growth stocks by 1 percentage point | +0.65%+0.24% to +1.1%Tentative | +0.52%+0.10% to +0.93%Tentative |
| MomentumIn weeks when recent winners beat the stock market by 1 percentage point | +0.15%−0.29% to +0.59%Not distinguishable from zero | +0.06%−0.47% to +0.59%Not distinguishable from zero |
| EuroIn weeks when the euro rose 2% against the U.S. dollar | −0.74%−4.4% to +2.9%Not distinguishable from zero | −3.9%−6.3% to −1.5%Tentative |
| Japanese yenIn weeks when the yen rose 2% against the U.S. dollar | −0.17%−1.8% to +1.4%Not distinguishable from zero | −1.2%−2.4% to −0.11%Tentative |
| Emerging marketsIn weeks when emerging-market stocks beat the S&P 500 by 1 percentage point | +0.52%+0.03% to +1.0%Tentative | +0.84%+0.44% to +1.2%Clear |
| ChinaIn weeks when Chinese stocks beat other emerging markets by 1 percentage point | −0.40%−0.64% to −0.16%Tentative | +0.08%−0.23% to +0.38%Not distinguishable from zero |
Each figure is the stock's typical move in a week when the force moved by the stated amount, after accounting for the stock market, with its 90% range beneath. Grey figures could not be told apart from zero. A row is marked a clear difference only when the two 90% ranges do not overlap.
This describes the past, and it is not a forecast. Relationships change, and nothing here is a recommendation to buy, sell or hold any security.