MXE vs TV: Correlation
How closely do Mexico Equity and Income Fund, Inc. (The) (MXE) and Grupo Televisa S.A.B. (TV) trade together? Their weekly returns over three years give a correlation of 0.36, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MXE and TV?
Across a 3-year window, the weekly returns of MXE and TV correlate at 0.36, moderate. Recent behaviour matches the longer record: 0.27 over 1 year against 0.36 over 3. Stretching to 5 years gives 0.45, with an annualized covariance of 378.5 %².
Within MXE's tracked universe of 16 assets, TV comes in at #10 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MXE ahead by 21.0 points (+23.2% versus +2.2%). One caveat on sizing: TV is 2.6 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.
MXE vs TV: side by side
| MXE (Mexico Equity and Income Fund, Inc. (The)) | TV (Grupo Televisa S.A.B.) | |
|---|---|---|
| 1-year return | +23.2% | +2.2% |
| 5-year return | +16.5% | -72.6% |
| Volatility (ann.) | 19.9% | 52.4% |
| Beta vs S&P 500 | 0.54 | 0.69 |
| Max drawdown (3Y) | -28.8% | -59.2% |
| Market cap | $0.1B | $1.4B |
| P/E (trailing) | 2.7 | – |
| Dividend yield | 1.74% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MXE | TV |
|---|---|---|
| 2022 | -1.6% | -50.9% |
| 2023 | +31.0% | -25.2% |
| 2024 | -25.7% | -40.6% |
| 2025 | +57.1% | +81.5% |
| 2026 | +8.4% | -5.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MXE and TV good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MXE and TV?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.27 over the last year and 0.45 over 5 years.
Is TV a good diversifier for MXE?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.36 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/mxe-vs-tv.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mxe-vs-tv/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MXE correlations · TV correlations
