BMA vs MO: Correlation
Measured on weekly returns over the past three years, Banco Macro S.A. ADR (representing Ten Class B (BMA) and Altria (MO) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BMA and MO?
On 3 years of weekly data the BMA/MO correlation comes out at -0.28, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.50 versus -0.28 over 3 years. The 5-year figure is -0.12, and annualized covariance runs at -423.8 %².
Out of 16 assets tracked against BMA, MO lands near the bottom at #15. Their recent paths diverged sharply: over the last 12 months BMA outperformed by 30.3 percentage points (+39.1% for BMA against +8.8% for MO). One caveat on sizing: BMA is 3.1 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.
BMA vs MO: side by side
| BMA (Banco Macro S.A. ADR (representing Ten Class B) | MO (Altria) | |
|---|---|---|
| 1-year return | +39.1% | +8.8% |
| 5-year return | +460.4% | +100.4% |
| Volatility (ann.) | 68.3% | 21.8% |
| Beta vs S&P 500 | 1.06 | -0.07 |
| Max drawdown (3Y) | -65.9% | -16.4% |
| Market cap | $4.9B | $113.0B |
| P/E (trailing) | 19.7 | 14.6 |
| Dividend yield | 0.00% | 6.13% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | BMA | MO |
|---|---|---|
| 2022 | +27.0% | +4.4% |
| 2023 | +91.6% | -3.7% |
| 2024 | +277.8% | +40.8% |
| 2025 | -6.2% | +18.2% |
| 2026 | -11.4% | +21.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BMA and MO good diversifiers for each other?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BMA and MO?
Using weekly returns as of 2026-08-27: -0.28 over 3 years, with -0.50 over the last year and -0.12 over 5 years.
Is MO a good diversifier for BMA?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.28 mean?
On the −1 to +1 scale, -0.28 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/bma-vs-mo.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bma-vs-mo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BMA correlations · MO correlations
