MXE vs PAC: Correlation
Measured on weekly returns over the past three years, Mexico Equity and Income Fund, Inc. (The) (MXE) and Grupo Aeroportuario Del Pacifico, S.A. B. de C.V. Grupo (PAC) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MXE and PAC?
On 3 years of weekly data the MXE/PAC correlation comes out at 0.53, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.38 versus 0.53 over 3 years. The 5-year figure is 0.52, and annualized covariance runs at 414.9 %².
Among the 16 assets we track against MXE, PAC ranks #8 by 3-year correlation. The last year tells two different stories: MXE led by 34.8 percentage points, +23.2% for MXE against -11.6% for PAC. Risk is not evenly split, since PAC carries 2.0 times the volatility of the other side.
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.
MXE vs PAC: side by side
| MXE (Mexico Equity and Income Fund, Inc. (The)) | PAC (Grupo Aeroportuario Del Pacifico, S.A. B. de C.V. Grupo) | |
|---|---|---|
| 1-year return | +23.2% | -11.6% |
| 5-year return | +16.5% | +135.8% |
| Volatility (ann.) | 19.9% | 39.2% |
| Beta vs S&P 500 | 0.54 | 1.01 |
| Max drawdown (3Y) | -28.8% | -42.8% |
| Market cap | $0.1B | $12.8B |
| P/E (trailing) | 2.7 | 19.7 |
| Dividend yield | 1.74% | 9.68% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MXE | PAC |
|---|---|---|
| 2022 | -1.6% | +9.8% |
| 2023 | +31.0% | +28.6% |
| 2024 | -25.7% | +4.2% |
| 2025 | +57.1% | +56.3% |
| 2026 | +8.4% | -18.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MXE and PAC good diversifiers for each other?
Only partially. A correlation of 0.53 means MXE and PAC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between MXE and PAC?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.38 over the last year and 0.52 over 5 years.
Is PAC a good diversifier for MXE?
Only partially. A correlation of 0.53 means MXE and PAC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.53 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.
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Related comparisons
Hubs: MXE correlations · PAC correlations
