DG vs MXE: Correlation
Measured on weekly returns over the past three years, Dollar General (DG) and Mexico Equity and Income Fund, Inc. (The) (MXE) carry a correlation of 0.31, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DG and MXE?
On 3 years of weekly data the DG/MXE correlation comes out at 0.31, moderate. The relationship has been stable: the 1-year correlation (0.21) sits close to the 3-year figure. The 5-year figure is 0.21, and annualized covariance runs at 238.9 %².
Among the 32 assets we track against DG, MXE ranks #11 by 3-year correlation. On 12-month performance MXE holds a 7.7-point edge, +15.5% against +23.2%. Note the risk asymmetry: DG runs 1.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
DG vs MXE: side by side
| DG (Dollar General) | MXE (Mexico Equity and Income Fund, Inc. (The)) | |
|---|---|---|
| 1-year return | +15.5% | +23.2% |
| 5-year return | -39.3% | +16.5% |
| Volatility (ann.) | 38.5% | 19.9% |
| Beta vs S&P 500 | 0.11 | 0.54 |
| Max drawdown (3Y) | -56.6% | -28.8% |
| Market cap | $27.8B | $0.1B |
| P/E (trailing) | 17.4 | 2.7 |
| Dividend yield | 0.00% | 1.74% |
| Sector / category | Consumer Staples | US Listed |
Year-by-year returns
| Year | DG | MXE |
|---|---|---|
| 2022 | +5.6% | -1.6% |
| 2023 | -44.1% | +31.0% |
| 2024 | -43.1% | -25.7% |
| 2025 | +79.6% | +57.1% |
| 2026 | -3.8% | +8.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DG and MXE good diversifiers for each other?
Reasonably. At 0.31, DG and MXE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between DG and MXE?
As of 2026-08-27, the correlation of weekly returns between DG and MXE is 0.31 over 3 years, 0.21 over 1 year and 0.21 over 5 years.
Is MXE a good diversifier for DG?
Reasonably. At 0.31, DG and MXE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.31 mean?
On the −1 to +1 scale, 0.31 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/dg-vs-mxe.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dg-vs-mxe/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DG correlations · MXE correlations
