ASR vs MXF: Correlation
How closely do Grupo Aeroportuario del Sureste, S.A. de C.V. (ASR) and Mexico Fund, Inc. (The) (MXF) trade together? Their weekly returns over three years give a correlation of 0.67, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASR and MXF?
Over the past 3 years, ASR and MXF moved with a correlation of 0.67, which is strong. Little has changed lately, as the 1-year reading of 0.60 lands near the 3-year figure. Over 5 years the correlation is 0.67, and the annualized covariance of weekly returns is 461.4 %².
Few assets follow ASR as closely as MXF, which ranks #2 of 13 tracked partners. Their recent paths diverged sharply: over the last 12 months MXF outperformed by 48.9 percentage points (-19.4% for ASR against +29.5% for MXF). One caveat on sizing: ASR is 1.5 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 MXF: side by side
| ASR (Grupo Aeroportuario del Sureste, S.A. de C.V.) | MXF (Mexico Fund, Inc. (The)) | |
|---|---|---|
| 1-year return | -19.4% | +29.5% |
| 5-year return | +83.2% | +82.1% |
| Volatility (ann.) | 32.3% | 21.3% |
| Beta vs S&P 500 | 0.77 | 0.67 |
| Max drawdown (3Y) | -31.1% | -30.7% |
| Market cap | – | $0.3B |
| P/E (trailing) | 13.6 | 3.4 |
| Dividend yield | 3.81% | 5.43% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASR | MXF |
|---|---|---|
| 2022 | +17.0% | -1.7% |
| 2023 | +32.1% | +35.8% |
| 2024 | -9.2% | -27.1% |
| 2025 | +35.6% | +61.9% |
| 2026 | -18.1% | +14.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASR and MXF good diversifiers for each other?
Only partially. A correlation of 0.67 means ASR and MXF 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 MXF?
As of 2026-08-27, the correlation of weekly returns between ASR and MXF is 0.67 over 3 years, 0.60 over 1 year and 0.67 over 5 years.
Is MXF a good diversifier for ASR?
Only partially. A correlation of 0.67 means ASR and MXF share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.67 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-mxf.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/asr-vs-mxf/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ASR correlations · MXF correlations
