FMX FOMENTO ECONOMICO MEXICANO, S.A.B. DE C.V.

together opposite · bar = ρ at each lag, −10 … 0 … +10 days · holdout ρ · click a card for the full picture

FMX vs EWW

Both indexed to 100 at 2026-05-11.

FMX EWW · range 88–110 · 2026-05-11 → 2026-11-06

Same day, ranked by what's left after the market and sector factors are removed ("beyond mkt").

EWW iShares MSCI Mexico ETF

ρ +0.63beyond mkt +0.56holdout +0.57stable 100%robust

KOF Coca-Cola FEMSA, S.A.B DE C.V

ρ +0.55beyond mkt +0.46holdout +0.62stable 100%robust

OMAB Grupo Aeroportuario del Centro Norte S.A.B. de C.V. ADS

ρ +0.39beyond mkt +0.31holdout +0.34stable 100%robust

PAC Grupo Aeroportuario del Pacifico, S.A.B. de C.V. Amer. Dep. Shares (each rep. 10 Ser. B shares)

ρ +0.40beyond mkt +0.29holdout +0.31stable 100%robust

CX Cemex S.A.B. de C.V.

ρ +0.39beyond mkt +0.24holdout +0.38stable 100%robust

EWZ iShares MSCI Brazil ETF

ρ +0.41beyond mkt +0.24holdout +0.42stable 100%robust

No day-to-day relationship, but 5- or 10-day returns move together.

BUD Anheuser-Busch INBEV SA/NV

horizon 10dρ +0.56holdout +0.61stable 88%robust

Biggest shifts in same-day correlation over the last 63 trading days versus the year before.

STRL Sterling Infrastructure, Inc. Common Stock

Δ -0.61recent -0.39prior +0.22beyond mkt +0.09

FORM FormFactor, Inc. FormFactor, Inc. Common Stock

Δ -0.60recent -0.46prior +0.14beyond mkt -0.00

FIX Comfort Systems USA, Inc.

Δ -0.59recent -0.42prior +0.17beyond mkt +0.03

INTC Intel Corporation Common Stock

Δ -0.59recent -0.46prior +0.13beyond mkt -0.02

MTRN Materion Corporation

Δ -0.59recent -0.38prior +0.20beyond mkt +0.01

FCUS Pinnacle Focused Opportunities ETF

Δ -0.59recent -0.38prior +0.21beyond mkt +0.05

Strong beyond-the-market co-movement with few shared neighbours.

Symbol	beyond mkt	raw ρ	shared	isolation
KOF Coca-Cola FEMSA, S.A.B DE C.V	+0.46	+0.55	16
EWW iShares MSCI Mexico ETF	+0.56	+0.63	20