Copper prices are one useful, under-the-radar indicator for investors to use as a gauge of U.S. economic health. Despite downward pressure on stock prices so far in 2022, copper prices have held up relatively well, a trend that has been reflected in the strength of underlying U.S. economic numbers. In the past year, the SPDR S&P 500 ETF Trust has generated a 16.9 percent total return, while the United States Copper Index Fund has returned 21.7 percent. Year-to-date in 2022, the SPY fund is down 5.8 percent, but the CPER fund has drifted higher by 0.5 percent. Why Copper Matters Copper is commonly used in a number of different industries, including construction, industrial production, electronics and power generation and transmission. As a result, copper demand can be used as a gauge for economic growth, and copper prices have a high historical correlation to the world Business Confidence Indicator. The Portfolio …