FMX vs TOWN: Correlation
Fomento Economico Mexicano S.A.B. de C.V. (FMX) and Towne Bank (TOWN) show a moderate relationship: their 3-year correlation of weekly returns is 0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FMX and TOWN?
On 3 years of weekly data the FMX/TOWN correlation comes out at 0.41, moderate. The relationship has been stable: the 1-year correlation (0.50) sits close to the 3-year figure. The 5-year figure is 0.32, and annualized covariance runs at 262.1 %².
Among the 10 assets we track against FMX, TOWN ranks #5 by 3-year correlation. The last year tells two different stories: FMX led by 35.8 percentage points, +42.5% for FMX against +6.7% for TOWN.
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.
FMX vs TOWN: side by side
| FMX (Fomento Economico Mexicano S.A.B. de C.V.) | TOWN (Towne Bank) | |
|---|---|---|
| 1-year return | +42.5% | +6.7% |
| 5-year return | +63.2% | +47.6% |
| Volatility (ann.) | 25.5% | 25.0% |
| Beta vs S&P 500 | 0.35 | 0.77 |
| Max drawdown (3Y) | -41.3% | -18.4% |
| Market cap | $41.0B | $3.5B |
| P/E (trailing) | 23.8 | 18.0 |
| Dividend yield | 0.00% | 2.90% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FMX | TOWN |
|---|---|---|
| 2022 | +2.9% | +0.7% |
| 2023 | +70.1% | +0.3% |
| 2024 | -32.6% | +18.3% |
| 2025 | +24.1% | +1.0% |
| 2026 | +22.6% | +16.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FMX and TOWN good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FMX and TOWN?
As of 2026-08-27, the correlation of weekly returns between FMX and TOWN is 0.41 over 3 years, 0.50 over 1 year and 0.32 over 5 years.
Is TOWN a good diversifier for FMX?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 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.
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Related comparisons
Hubs: FMX correlations · TOWN correlations
