FGNX vs FMX: Correlation
How closely do FG Nexus Inc. (FGNX) and Fomento Economico Mexicano S.A.B. de C.V. (FMX) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FGNX and FMX?
Across a 3-year window, the weekly returns of FGNX and FMX correlate at -0.25, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.31 lands near the 3-year figure. Stretching to 5 years gives -0.13, with an annualized covariance of -661.0 %².
Out of 18 assets tracked against FGNX, FMX lands near the bottom at #17. Correlation aside, the last 12 months split them widely, with FMX ahead by 130.0 points (-87.5% versus +42.5%). One caveat on sizing: FGNX is 4.1 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.
FGNX vs FMX: side by side
| FGNX (FG Nexus Inc.) | FMX (Fomento Economico Mexicano S.A.B. de C.V.) | |
|---|---|---|
| 1-year return | -87.5% | +42.5% |
| 5-year return | -98.8% | +63.2% |
| Volatility (ann.) | 105.1% | 25.5% |
| Beta vs S&P 500 | -0.07 | 0.35 |
| Max drawdown (3Y) | -97.9% | -41.3% |
| Market cap | – | $41.0B |
| P/E (trailing) | – | 23.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FGNX | FMX |
|---|---|---|
| 2022 | -24.2% | +2.9% |
| 2023 | -43.9% | +70.1% |
| 2024 | -45.5% | -32.6% |
| 2025 | -87.4% | +24.1% |
| 2026 | -42.8% | +22.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FGNX and FMX good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between FGNX and FMX?
As of 2026-08-27, the correlation of weekly returns between FGNX and FMX is -0.25 over 3 years, -0.31 over 1 year and -0.13 over 5 years.
Is FMX a good diversifier for FGNX?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 mean?
A reading of -0.25 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: FGNX correlations · FMX correlations
