BWMX vs DX: Correlation
How closely do Betterware de Mexico, S.A.P.I. de C.V. (BWMX) and Dynex Capital, Inc. (DX) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BWMX and DX?
On 3 years of weekly data the BWMX/DX correlation comes out at 0.38, moderate. The past 12 months show a weaker link (0.24) than the 3-year average (0.38). The 5-year figure is 0.19, and annualized covariance runs at 378.7 %².
Among the 10 assets we track against BWMX, DX ranks #5 by 3-year correlation. The trailing year gives BWMX the advantage: +25.6% versus +20.5%, a 5.1-point spread. Risk is not evenly split, since BWMX carries 2.1 times the volatility of the other side.
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.
BWMX vs DX: side by side
| BWMX (Betterware de Mexico, S.A.P.I. de C.V.) | DX (Dynex Capital, Inc.) | |
|---|---|---|
| 1-year return | +25.6% | +20.5% |
| 5-year return | -40.9% | +40.2% |
| Volatility (ann.) | 45.7% | 21.5% |
| Beta vs S&P 500 | 0.88 | 0.70 |
| Max drawdown (3Y) | -57.5% | -25.8% |
| Market cap | $0.6B | $3.2B |
| P/E (trailing) | 6.1 | 4.1 |
| Dividend yield | 66.63% | 15.84% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BWMX | DX |
|---|---|---|
| 2022 | -66.1% | -15.4% |
| 2023 | +133.9% | +11.9% |
| 2024 | -12.0% | +13.6% |
| 2025 | +37.3% | +29.5% |
| 2026 | +18.7% | +3.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BWMX and DX good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BWMX and DX?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.24 over the last year and 0.19 over 5 years.
Is DX a good diversifier for BWMX?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
A reading of 0.38 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/bwmx-vs-dx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bwmx-vs-dx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BWMX correlations · DX correlations
