MXF vs PAC: Correlation
How closely do Mexico Fund, Inc. (The) (MXF) and Grupo Aeroportuario Del Pacifico, S.A. B. de C.V. Grupo (PAC) trade together? Their weekly returns over three years give a correlation of 0.60, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MXF and PAC?
Across a 3-year window, the weekly returns of MXF and PAC correlate at 0.60, strong. The link has loosened recently: the 1-year correlation (0.39) runs below the 3-year figure (0.60). Stretching to 5 years gives 0.62, with an annualized covariance of 498.8 %².
By 3-year correlation, PAC places #8 of the 18 assets tracked against MXF. The last year tells two different stories: MXF led by 41.1 percentage points, +29.5% for MXF against -11.6% for PAC. Risk is not evenly split, since PAC carries 1.8 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.
MXF vs PAC: side by side
| MXF (Mexico Fund, Inc. (The)) | PAC (Grupo Aeroportuario Del Pacifico, S.A. B. de C.V. Grupo) | |
|---|---|---|
| 1-year return | +29.5% | -11.6% |
| 5-year return | +82.1% | +135.8% |
| Volatility (ann.) | 21.3% | 39.2% |
| Beta vs S&P 500 | 0.67 | 1.01 |
| Max drawdown (3Y) | -30.7% | -42.8% |
| Market cap | $0.3B | $12.8B |
| P/E (trailing) | 3.4 | 19.7 |
| Dividend yield | 5.43% | 9.68% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MXF | PAC |
|---|---|---|
| 2022 | -1.7% | +9.8% |
| 2023 | +35.8% | +28.6% |
| 2024 | -27.1% | +4.2% |
| 2025 | +61.9% | +56.3% |
| 2026 | +14.8% | -18.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MXF and PAC good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MXF and PAC?
As of 2026-08-27, the correlation of weekly returns between MXF and PAC is 0.60 over 3 years, 0.39 over 1 year and 0.62 over 5 years.
Is PAC a good diversifier for MXF?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 mean?
On the −1 to +1 scale, 0.60 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: MXF correlations · PAC correlations
