BWMX vs IVR: Correlation
Betterware de Mexico, S.A.P.I. de C.V. (BWMX) and INVESCO MORTGAGE CAPITAL INC (IVR) show a moderate relationship: their 3-year correlation of weekly returns is 0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BWMX and IVR?
Across a 3-year window, the weekly returns of BWMX and IVR correlate at 0.39, moderate. The link has loosened recently: the 1-year correlation (0.16) runs below the 3-year figure (0.39). Stretching to 5 years gives 0.16, with an annualized covariance of 530.9 %².
Within BWMX's tracked universe of 10 assets, IVR comes in at #4 by 3-year correlation. The trailing year gives BWMX the advantage: +25.6% versus +17.7%, a 7.9-point spread. Note the risk asymmetry: BWMX runs 1.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 IVR: side by side
| BWMX (Betterware de Mexico, S.A.P.I. de C.V.) | IVR (INVESCO MORTGAGE CAPITAL INC) | |
|---|---|---|
| 1-year return | +25.6% | +17.7% |
| 5-year return | -40.9% | -40.5% |
| Volatility (ann.) | 45.7% | 29.8% |
| Beta vs S&P 500 | 0.88 | 0.88 |
| Max drawdown (3Y) | -57.5% | -41.4% |
| Market cap | $0.6B | $0.8B |
| P/E (trailing) | 6.1 | 4.7 |
| Dividend yield | 66.63% | 19.27% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BWMX | IVR |
|---|---|---|
| 2022 | -66.1% | -44.6% |
| 2023 | +133.9% | -14.3% |
| 2024 | -12.0% | +9.0% |
| 2025 | +37.3% | +24.9% |
| 2026 | +18.7% | -0.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BWMX and IVR good diversifiers for each other?
Reasonably. At 0.39, BWMX and IVR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BWMX and IVR?
The BWMX/IVR correlation stands at 0.39 on a 3-year window (1 year: 0.16, 5 years: 0.16), computed from weekly returns as of 2026-08-27.
Is IVR a good diversifier for BWMX?
Reasonably. At 0.39, BWMX and IVR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 mean?
On the −1 to +1 scale, 0.39 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/bwmx-vs-ivr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bwmx-vs-ivr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BWMX correlations · IVR correlations
