ASR vs MXE: Correlation
Grupo Aeroportuario del Sureste, S.A. de C.V. (ASR) and Mexico Equity and Income Fund, Inc. (The) (MXE) show a strong relationship: their 3-year correlation of weekly returns is 0.66.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASR and MXE?
Across a 3-year window, the weekly returns of ASR and MXE correlate at 0.66, strong. Little has changed lately, as the 1-year reading of 0.63 lands near the 3-year figure. Stretching to 5 years gives 0.61, with an annualized covariance of 421.3 %².
Few assets follow ASR as closely as MXE, which ranks #3 of 13 tracked partners. Correlation aside, the last 12 months split them widely, with MXE ahead by 42.6 points (-19.4% versus +23.2%). One caveat on sizing: ASR is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 MXE: side by side
| ASR (Grupo Aeroportuario del Sureste, S.A. de C.V.) | MXE (Mexico Equity and Income Fund, Inc. (The)) | |
|---|---|---|
| 1-year return | -19.4% | +23.2% |
| 5-year return | +83.2% | +16.5% |
| Volatility (ann.) | 32.3% | 19.9% |
| Beta vs S&P 500 | 0.77 | 0.54 |
| Max drawdown (3Y) | -31.1% | -28.8% |
| Market cap | – | $0.1B |
| P/E (trailing) | 13.6 | 2.7 |
| Dividend yield | 3.81% | 1.74% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASR | MXE |
|---|---|---|
| 2022 | +17.0% | -1.6% |
| 2023 | +32.1% | +31.0% |
| 2024 | -9.2% | -25.7% |
| 2025 | +35.6% | +57.1% |
| 2026 | -18.1% | +8.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASR and MXE good diversifiers for each other?
Only partially. A correlation of 0.66 means ASR and MXE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ASR and MXE?
Using weekly returns as of 2026-08-27: 0.66 over 3 years, with 0.63 over the last year and 0.61 over 5 years.
Is MXE a good diversifier for ASR?
Only partially. A correlation of 0.66 means ASR and MXE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.66 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/asr-vs-mxe.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/asr-vs-mxe/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ASR correlations · MXE correlations
