<p>Copper is a key constituent of industrial production, infrastructure, renewable energy, and electrification, and has become a more significant element of the global economy. The price dynamics and economic importance of the copper market are growing in significance for policymakers, companies, and investors as the demand for copper continues to increase in relation to the global energy transition. This study considers the possibility of considering copper as not just an industrial commodity, but also as a strategic hybrid asset, which can be a barometer of the economy and a factor for diversification of a portfolio. This study aims to examine the long-term price behaviour, the relationship between copper and industrial production and inflation, and its investment characteristics, based on the copper price and some important macroeconomic indicators from 2014 to 2025. The results show that, in the long term, copper prices are highly sensitive to economic activity and inflation, thus indicating a close relationship between copper markets and macroeconomic conditions. The results also indicate that copper price uncertainty tends to increase during high-uncertainty periods, emphasising the importance of adequate risk management strategies for copper-intensive industries and governments. Copper has only a weak correlation with equity markets and is a good diversifier of traditional financial assets. The portfolio analysis suggests that adding copper to a well-diversified investment portfolio could lower the overall risk profile without compromising positive return attributes. The overall results suggest that copper is a strategic hybrid asset, an industrial commodity, an economic indicator, and a portfolio diversifier. This study adds to the literature on critical minerals and offers policy-relevant guidelines for resource governance, energy transition planning, industrial policy, and long-term investment decision-making.</p>