CCU vs MXF: Correlation
How closely do Compania Cervecerias Unidas, S.A. (CCU) and Mexico Fund, Inc. (The) (MXF) trade together? Their weekly returns over three years give a correlation of 0.51, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCU and MXF?
Across a 3-year window, the weekly returns of CCU and MXF correlate at 0.51, moderate. The relationship has been stable: the 1-year correlation (0.61) sits close to the 3-year figure. Stretching to 5 years gives 0.47, with an annualized covariance of 306.0 %².
Within CCU's tracked universe of 11 assets, MXF comes in at #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months MXF outperformed by 28.7 percentage points (+0.8% for CCU against +29.5% for MXF).
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.
CCU vs MXF: side by side
| CCU (Compania Cervecerias Unidas, S.A.) | MXF (Mexico Fund, Inc. (The)) | |
|---|---|---|
| 1-year return | +0.8% | +29.5% |
| 5-year return | -22.7% | +82.1% |
| Volatility (ann.) | 28.3% | 21.3% |
| Beta vs S&P 500 | 0.60 | 0.67 |
| Max drawdown (3Y) | -30.8% | -30.7% |
| Market cap | – | $0.3B |
| P/E (trailing) | 20.0 | 3.4 |
| Dividend yield | 0.00% | 5.43% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CCU | MXF |
|---|---|---|
| 2022 | -15.0% | -1.7% |
| 2023 | -2.5% | +35.8% |
| 2024 | -6.2% | -27.1% |
| 2025 | +14.2% | +61.9% |
| 2026 | -3.0% | +14.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCU and MXF good diversifiers for each other?
To a limited degree. At 0.51 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 CCU and MXF?
As of 2026-08-27, the correlation of weekly returns between CCU and MXF is 0.51 over 3 years, 0.61 over 1 year and 0.47 over 5 years.
Is MXF a good diversifier for CCU?
To a limited degree. At 0.51 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 0.51 mean?
A reading of 0.51 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/ccu-vs-mxf.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ccu-vs-mxf/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CCU correlations · MXF correlations
