ASR vs CAAP: Correlation
Grupo Aeroportuario del Sureste, S.A. de C.V. (ASR) and Corporacion America Airports SA (CAAP) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASR and CAAP?
On 3 years of weekly data the ASR/CAAP correlation comes out at 0.50, moderate. Little has changed lately, as the 1-year reading of 0.40 lands near the 3-year figure. The 5-year figure is 0.38, and annualized covariance runs at 546.8 %².
By 3-year correlation, CAAP places #5 of the 13 assets tracked against ASR. Their recent paths diverged sharply: over the last 12 months CAAP outperformed by 35.9 percentage points (-19.4% for ASR against +16.5% for CAAP).
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.
ASR vs CAAP: side by side
| ASR (Grupo Aeroportuario del Sureste, S.A. de C.V.) | CAAP (Corporacion America Airports SA) | |
|---|---|---|
| 1-year return | -19.4% | +16.5% |
| 5-year return | +83.2% | +323.5% |
| Volatility (ann.) | 32.3% | 33.9% |
| Beta vs S&P 500 | 0.77 | 0.91 |
| Max drawdown (3Y) | -31.1% | -26.6% |
| Market cap | – | $4.0B |
| P/E (trailing) | 13.6 | 14.0 |
| Dividend yield | 3.81% | 3.70% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASR | CAAP |
|---|---|---|
| 2022 | +17.0% | +51.3% |
| 2023 | +32.1% | +84.0% |
| 2024 | -9.2% | +16.2% |
| 2025 | +35.6% | +39.3% |
| 2026 | -18.1% | -7.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASR and CAAP good diversifiers for each other?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ASR and CAAP?
As of 2026-08-27, the correlation of weekly returns between ASR and CAAP is 0.50 over 3 years, 0.40 over 1 year and 0.38 over 5 years.
Is CAAP a good diversifier for ASR?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.50 mean?
On the −1 to +1 scale, 0.50 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/asr-vs-caap.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/asr-vs-caap/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ASR correlations · CAAP correlations
