CAAP vs LOMA: Correlation
How closely do Corporacion America Airports SA (CAAP) and Loma Negra Compania Industrial Argentina Sociedad Anonima (LOMA) trade together? Their weekly returns over three years give a correlation of 0.59, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAAP and LOMA?
Across a 3-year window, the weekly returns of CAAP and LOMA correlate at 0.59, moderate. The link has tightened recently: the 1-year correlation (0.81) runs above the 3-year figure (0.59). Stretching to 5 years gives 0.47, with an annualized covariance of 946.5 %².
LOMA is one of the assets that tracks CAAP most closely: it ranks #3 out of the 11 assets we track against CAAP. Over the last 12 months CAAP came out ahead by 13.5 percentage points (+16.5% against +3.0%).
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.
CAAP vs LOMA: side by side
| CAAP (Corporacion America Airports SA) | LOMA (Loma Negra Compania Industrial Argentina Sociedad Anonima) | |
|---|---|---|
| 1-year return | +16.5% | +3.0% |
| 5-year return | +323.5% | +76.0% |
| Volatility (ann.) | 33.9% | 47.1% |
| Beta vs S&P 500 | 0.91 | 0.64 |
| Max drawdown (3Y) | -26.6% | -48.3% |
| Market cap | $4.0B | $1.1B |
| P/E (trailing) | 14.0 | 38.7 |
| Dividend yield | 3.70% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CAAP | LOMA |
|---|---|---|
| 2022 | +51.3% | +26.6% |
| 2023 | +84.0% | +21.0% |
| 2024 | +16.2% | +68.4% |
| 2025 | +39.3% | +8.5% |
| 2026 | -7.0% | -25.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAAP and LOMA good diversifiers for each other?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CAAP and LOMA?
The CAAP/LOMA correlation stands at 0.59 on a 3-year window (1 year: 0.81, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is LOMA a good diversifier for CAAP?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.59 mean?
A reading of 0.59 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CAAP correlations · LOMA correlations
