SW vs TV: Correlation
Smurfit Westrock (SW) and Grupo Televisa S.A.B. (TV) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SW and TV?
On 3 years of weekly data the SW/TV correlation comes out at 0.36, moderate. The link has loosened recently: the 1-year correlation (0.03) runs below the 3-year figure (0.36). The 5-year figure is 0.37, and annualized covariance runs at 750.2 %².
Within SW's tracked universe of 30 assets, TV comes in at #18 by 3-year correlation. The trailing year gives SW the advantage: +9.7% versus +2.2%, a 7.5-point spread.
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.
SW vs TV: side by side
| SW (Smurfit Westrock) | TV (Grupo Televisa S.A.B.) | |
|---|---|---|
| 1-year return | +9.7% | +2.2% |
| 5-year return | +2.6% | -72.6% |
| Volatility (ann.) | 40.1% | 52.4% |
| Beta vs S&P 500 | 0.92 | 0.69 |
| Max drawdown (3Y) | -40.5% | -59.2% |
| Market cap | $25.5B | $1.4B |
| P/E (trailing) | 51.7 | – |
| Dividend yield | 3.57% | 0.00% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | SW | TV |
|---|---|---|
| 2022 | -28.0% | -50.9% |
| 2023 | +14.1% | -25.2% |
| 2024 | +37.6% | -40.6% |
| 2025 | -26.2% | +81.5% |
| 2026 | +29.5% | -5.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SW and TV good diversifiers for each other?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SW and TV?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.03 over the last year and 0.37 over 5 years.
Is TV a good diversifier for SW?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
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/sw-vs-tv.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/sw-vs-tv/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SW correlations · TV correlations
