CMRE vs TV: Correlation
How closely do Costamare Inc. (CMRE) and Grupo Televisa S.A.B. (TV) trade together? Their weekly returns over three years give a correlation of 0.34, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMRE and TV?
On 3 years of weekly data the CMRE/TV correlation comes out at 0.34, moderate. Recent behaviour matches the longer record: 0.35 over 1 year against 0.34 over 3. The 5-year figure is 0.37, and annualized covariance runs at 625.1 %².
By 3-year correlation, TV places #9 of the 16 assets tracked against CMRE. Correlation aside, the last 12 months split them widely, with CMRE ahead by 30.6 points (+32.8% versus +2.2%).
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.
CMRE vs TV: side by side
| CMRE (Costamare Inc.) | TV (Grupo Televisa S.A.B.) | |
|---|---|---|
| 1-year return | +32.8% | +2.2% |
| 5-year return | +30.5% | -72.6% |
| Volatility (ann.) | 35.3% | 52.4% |
| Beta vs S&P 500 | 0.73 | 0.69 |
| Max drawdown (3Y) | -57.8% | -59.2% |
| Market cap | $1.9B | $1.4B |
| P/E (trailing) | 5.6 | – |
| Dividend yield | 3.17% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CMRE | TV |
|---|---|---|
| 2022 | -22.8% | -50.9% |
| 2023 | +16.2% | -25.2% |
| 2024 | +26.9% | -40.6% |
| 2025 | +26.5% | +81.5% |
| 2026 | -1.3% | -5.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMRE and TV good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CMRE and TV?
Using weekly returns as of 2026-08-27: 0.34 over 3 years, with 0.35 over the last year and 0.37 over 5 years.
Is TV a good diversifier for CMRE?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.34 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/cmre-vs-tv.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cmre-vs-tv/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CMRE correlations · TV correlations
