CAAP vs PAM: Correlation
Corporacion America Airports SA (CAAP) and Pampa Energia S.A. (PAM) show a moderate relationship: their 3-year correlation of weekly returns is 0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAAP and PAM?
Over the past 3 years, CAAP and PAM moved with a correlation of 0.55, which is moderate. The past 12 months show a tighter link (0.72) than the 3-year average (0.55). Over 5 years the correlation is 0.46, and the annualized covariance of weekly returns is 838.1 %².
By 3-year correlation, PAM places #5 of the 11 assets tracked against CAAP. Over the last 12 months PAM came out ahead by 5.9 percentage points (+16.5% against +22.4%).
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 PAM: side by side
| CAAP (Corporacion America Airports SA) | PAM (Pampa Energia S.A.) | |
|---|---|---|
| 1-year return | +16.5% | +22.4% |
| 5-year return | +323.5% | +339.3% |
| Volatility (ann.) | 33.9% | 45.3% |
| Beta vs S&P 500 | 0.91 | 0.38 |
| Max drawdown (3Y) | -26.6% | -40.4% |
| Market cap | $4.0B | $4.3B |
| P/E (trailing) | 14.0 | 7.3 |
| Dividend yield | 3.70% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CAAP | PAM |
|---|---|---|
| 2022 | +51.3% | +51.3% |
| 2023 | +84.0% | +55.0% |
| 2024 | +16.2% | +77.6% |
| 2025 | +39.3% | +0.6% |
| 2026 | -7.0% | -8.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAAP and PAM good diversifiers for each other?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CAAP and PAM?
The CAAP/PAM correlation stands at 0.55 on a 3-year window (1 year: 0.72, 5 years: 0.46), computed from weekly returns as of 2026-08-27.
Is PAM a good diversifier for CAAP?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.55 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/caap-vs-pam.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/caap-vs-pam/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CAAP correlations · PAM correlations
