BSAC vs MXE: Correlation
How closely do Banco Santander - Chile (BSAC) and Mexico Equity and Income Fund, Inc. (The) (MXE) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BSAC and MXE?
On 3 years of weekly data the BSAC/MXE correlation comes out at 0.56, moderate. Recent behaviour matches the longer record: 0.52 over 1 year against 0.56 over 3. The 5-year figure is 0.48, and annualized covariance runs at 285.7 %².
Within BSAC's tracked universe of 15 assets, MXE comes in at #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months BSAC outperformed by 31.3 percentage points (+54.5% for BSAC against +23.2% for MXE).
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 MXE: side by side
| BSAC (Banco Santander - Chile) | MXE (Mexico Equity and Income Fund, Inc. (The)) | |
|---|---|---|
| 1-year return | +54.5% | +23.2% |
| 5-year return | +119.0% | +16.5% |
| Volatility (ann.) | 25.9% | 19.9% |
| Beta vs S&P 500 | 0.63 | 0.54 |
| Max drawdown (3Y) | -18.4% | -28.8% |
| Market cap | $16.4B | $0.1B |
| P/E (trailing) | 13.4 | 2.7 |
| Dividend yield | 0.00% | 1.74% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BSAC | MXE |
|---|---|---|
| 2022 | +3.0% | -1.6% |
| 2023 | +31.7% | +31.0% |
| 2024 | +0.9% | -25.7% |
| 2025 | +74.3% | +57.1% |
| 2026 | +17.7% | +8.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BSAC and MXE good diversifiers for each other?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BSAC and MXE?
As of 2026-08-27, the correlation of weekly returns between BSAC and MXE is 0.56 over 3 years, 0.52 over 1 year and 0.48 over 5 years.
Is MXE a good diversifier for BSAC?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.56 mean?
A reading of 0.56 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bsac-vs-mxe.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bsac-vs-mxe/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BSAC correlations · MXE correlations
