CCU vs VEA: Correlation
Measured on weekly returns over the past three years, Compania Cervecerias Unidas, S.A. (CCU) and Vanguard FTSE Developed Markets ETF (VEA) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCU and VEA?
On 3 years of weekly data the CCU/VEA correlation comes out at 0.51, moderate. The link has tightened recently: the 1-year correlation (0.62) runs above the 3-year figure (0.51). The 5-year figure is 0.48, and annualized covariance runs at 217.3 %².
By 3-year correlation, VEA places #5 of the 11 assets tracked against CCU. The last year tells two different stories: VEA led by 27.7 percentage points, +0.8% for CCU against +28.5% for VEA. One caveat on sizing: CCU is 1.9 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.
CCU vs VEA: side by side
| CCU (Compania Cervecerias Unidas, S.A.) | VEA (Vanguard FTSE Developed Markets ETF) | |
|---|---|---|
| 1-year return | +0.8% | +28.5% |
| 5-year return | -22.7% | +63.5% |
| Volatility (ann.) | 28.3% | 15.1% |
| Beta vs S&P 500 | 0.60 | 0.79 |
| Max drawdown (3Y) | -30.8% | -13.5% |
| Market cap | – | – |
| P/E (trailing) | 20.0 | – |
| Dividend yield | 0.00% | 2.56% |
| Expense ratio | – | 0.03% |
| Assets under management | – | $314.9B |
| Sector / category | US Listed | ETF · International |
VEA is a Foreign Large Blend fund from Vanguard: $314.9B under management, 3769 holdings, a 0.03% expense ratio, a 2.56% trailing dividend yield.
Year-by-year returns
| Year | CCU | VEA |
|---|---|---|
| 2022 | -15.0% | -15.3% |
| 2023 | -2.5% | +17.9% |
| 2024 | -6.2% | +3.1% |
| 2025 | +14.2% | +35.2% |
| 2026 | -3.0% | +18.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCU and VEA 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 VEA?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.62 over the last year and 0.48 over 5 years.
Is VEA 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?
On the −1 to +1 scale, 0.51 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/ccu-vs-vea.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ccu-vs-vea/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CCU correlations · VEA correlations
