BSAC vs FMX: Correlation
Banco Santander - Chile (BSAC) and Fomento Economico Mexicano S.A.B. de C.V. (FMX) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BSAC and FMX?
On 3 years of weekly data the BSAC/FMX correlation comes out at 0.43, moderate. The past 12 months show a weaker link (0.28) than the 3-year average (0.43). The 5-year figure is 0.37, and annualized covariance runs at 285.3 %².
Among the 15 assets we track against BSAC, FMX ranks #10 by 3-year correlation. On 12-month performance BSAC holds a 12.0-point edge, +54.5% against +42.5%.
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.
BSAC vs FMX: side by side
| BSAC (Banco Santander - Chile) | FMX (Fomento Economico Mexicano S.A.B. de C.V.) | |
|---|---|---|
| 1-year return | +54.5% | +42.5% |
| 5-year return | +119.0% | +63.2% |
| Volatility (ann.) | 25.9% | 25.5% |
| Beta vs S&P 500 | 0.63 | 0.35 |
| Max drawdown (3Y) | -18.4% | -41.3% |
| Market cap | $16.4B | $41.0B |
| P/E (trailing) | 13.4 | 23.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BSAC | FMX |
|---|---|---|
| 2022 | +3.0% | +2.9% |
| 2023 | +31.7% | +70.1% |
| 2024 | +0.9% | -32.6% |
| 2025 | +74.3% | +24.1% |
| 2026 | +17.7% | +22.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BSAC and FMX good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BSAC and FMX?
The BSAC/FMX correlation stands at 0.43 on a 3-year window (1 year: 0.28, 5 years: 0.37), computed from weekly returns as of 2026-08-27.
Is FMX a good diversifier for BSAC?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 mean?
On the −1 to +1 scale, 0.43 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/bsac-vs-fmx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bsac-vs-fmx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BSAC correlations · FMX correlations
