MXF vs TV: Correlation
How closely do Mexico Fund, Inc. (The) (MXF) and Grupo Televisa S.A.B. (TV) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MXF and TV?
Across a 3-year window, the weekly returns of MXF and TV correlate at 0.38, moderate. Little has changed lately, as the 1-year reading of 0.28 lands near the 3-year figure. Stretching to 5 years gives 0.48, with an annualized covariance of 428.0 %².
Out of 18 assets tracked against MXF, TV lands near the bottom at #14. Their recent paths diverged sharply: over the last 12 months MXF outperformed by 27.3 percentage points (+29.5% for MXF against +2.2% for TV). Risk is not evenly split, since TV carries 2.5 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 TV: side by side
| MXF (Mexico Fund, Inc. (The)) | TV (Grupo Televisa S.A.B.) | |
|---|---|---|
| 1-year return | +29.5% | +2.2% |
| 5-year return | +82.1% | -72.6% |
| Volatility (ann.) | 21.3% | 52.4% |
| Beta vs S&P 500 | 0.67 | 0.69 |
| Max drawdown (3Y) | -30.7% | -59.2% |
| Market cap | $0.3B | $1.4B |
| P/E (trailing) | 3.4 | – |
| Dividend yield | 5.43% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MXF | TV |
|---|---|---|
| 2022 | -1.7% | -50.9% |
| 2023 | +35.8% | -25.2% |
| 2024 | -27.1% | -40.6% |
| 2025 | +61.9% | +81.5% |
| 2026 | +14.8% | -5.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MXF and TV good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MXF and TV?
As of 2026-08-27, the correlation of weekly returns between MXF and TV is 0.38 over 3 years, 0.28 over 1 year and 0.48 over 5 years.
Is TV a good diversifier for MXF?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 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/mxf-vs-tv.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mxf-vs-tv/)
No key needed, free to use. Full endpoint list in the API documentation.
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Hubs: MXF correlations · TV correlations
