BWMX vs NLY: Correlation
Measured on weekly returns over the past three years, Betterware de Mexico, S.A.P.I. de C.V. (BWMX) and Annaly Capital Management Inc. (NLY) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BWMX and NLY?
Over the past 3 years, BWMX and NLY moved with a correlation of 0.41, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.18 versus 0.41 over 3 years. Over 5 years the correlation is 0.24, and the annualized covariance of weekly returns is 430.5 %².
NLY is one of the assets that tracks BWMX most closely: it ranks #3 out of the 10 assets we track against BWMX. Their 12-month results are close: +25.6% for BWMX against +25.4% for NLY. One caveat on sizing: BWMX is 2.0 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.
BWMX vs NLY: side by side
| BWMX (Betterware de Mexico, S.A.P.I. de C.V.) | NLY (Annaly Capital Management Inc.) | |
|---|---|---|
| 1-year return | +25.6% | +25.4% |
| 5-year return | -40.9% | +30.4% |
| Volatility (ann.) | 45.7% | 22.9% |
| Beta vs S&P 500 | 0.88 | 0.81 |
| Max drawdown (3Y) | -57.5% | -26.3% |
| Market cap | $0.6B | $17.4B |
| P/E (trailing) | 6.1 | 5.6 |
| Dividend yield | 66.63% | 12.47% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BWMX | NLY |
|---|---|---|
| 2022 | -66.1% | -21.4% |
| 2023 | +133.9% | +4.9% |
| 2024 | -12.0% | +8.1% |
| 2025 | +37.3% | +40.0% |
| 2026 | +18.7% | +10.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BWMX and NLY good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BWMX and NLY?
The BWMX/NLY correlation stands at 0.41 on a 3-year window (1 year: 0.18, 5 years: 0.24), computed from weekly returns as of 2026-08-27.
Is NLY a good diversifier for BWMX?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 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-nly.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bwmx-vs-nly/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BWMX correlations · NLY correlations
