CAAP vs. OMAB
CAAP (Corporación América Airports S.A.) and OMAB (Grupo Aeroportuario del Centro Norte, S.A.B. de C.V.) are both stocks. Both operate in the Airports & Air Services industry within the Industrials sector. Over the past 5 years, CAAP returned 34.62%/yr vs 23.49%/yr for OMAB. At a 0.27 correlation, their price movements are largely independent.
Performance
CAAP vs. OMAB - Performance Comparison
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Returns By Period
In the year-to-date period, CAAP achieves a 0.65% return, which is significantly lower than OMAB's 1.86% return.
CAAP
- 1D
- -1.58%
- 1M
- 4.85%
- YTD
- 0.65%
- 6M
- 0.73%
- 1Y
- 33.05%
- 3Y*
- 30.48%
- 5Y*
- 34.62%
- 10Y*
- —
OMAB
- 1D
- -1.83%
- 1M
- 7.35%
- YTD
- 1.86%
- 6M
- -1.89%
- 1Y
- 11.11%
- 3Y*
- 14.19%
- 5Y*
- 23.49%
- 10Y*
- 13.71%
CAAP vs. OMAB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
CAAP Corporación América Airports S.A. | 0.65% | 39.34% | 16.19% | 83.96% | 51.30% | 44.61% | -33.50% | -9.50% | -61.00% |
OMAB Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. | 1.86% | 66.22% | -13.57% | 43.53% | 30.18% | 7.98% | -13.78% | 62.40% | -3.62% |
Correlation
The correlation between CAAP and OMAB is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2018 | 0.27 |
The correlation between CAAP and OMAB shifts across timeframes, from 0.27 (all time) to 0.39 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
CAAP:
$4.29B
OMAB:
$5.20B
CAAP:
$1.77
OMAB:
MX$109.59
CAAP:
14.81
OMAB:
17.07
CAAP:
0.03
OMAB:
0.94
CAAP:
2.04
OMAB:
5.57
CAAP:
2.38
OMAB:
7.23
CAAP:
$2.10B
OMAB:
MX$16.21B
CAAP:
$749.06M
OMAB:
MX$12.07B
CAAP:
$729.23M
OMAB:
MX$9.83B
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Return for Risk
CAAP vs. OMAB — Risk / Return Rank
CAAP
OMAB
CAAP vs. OMAB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Corporación América Airports S.A. (CAAP) and Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (OMAB). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CAAP | OMAB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.46 | ||
| Sortino ratioReturn per unit of downside risk | +0.72 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.09 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.53 | 0.42 | +1.12 |
| Martin ratioReturn relative to average drawdown | 2.92 | 0.92 | +1.99 |
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Drawdowns
CAAP vs. OMAB - Drawdown Comparison
The maximum CAAP drawdown since its inception was -90.12%, which is greater than OMAB's maximum drawdown of -77.75%. Use the drawdown chart below to compare losses from any high point for CAAP and OMAB.
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Drawdown Indicators
| CAAP | OMAB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.12% | -77.75% | -12.37% |
Max Drawdown (1Y)Largest decline over 1 year | -21.68% | -26.87% | +5.19% |
Max Drawdown (3Y)Largest decline over 3 years | -26.63% | -41.78% | +15.15% |
Max Drawdown (5Y)Largest decline over 5 years | -26.63% | -41.78% | +15.15% |
Max Drawdown (10Y)Largest decline over 10 years | — | -68.88% | — |
Current DrawdownCurrent decline from peak | -13.77% | -17.92% | +4.15% |
Average DrawdownAverage peak-to-trough decline | -43.10% | -22.69% | -20.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.35% | 12.05% | -0.70% |
Volatility
CAAP vs. OMAB - Volatility Comparison
Corporación América Airports S.A. (CAAP) has a higher volatility of 12.15% compared to Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. (OMAB) at 11.51%. This indicates that CAAP's price experiences larger fluctuations and is considered to be riskier than OMAB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CAAP | OMAB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.15% | 11.51% | +0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 26.93% | 23.60% | +3.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.43% | 30.86% | +9.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.70% | 35.99% | -0.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 52.54% | 38.35% | +14.19% |
Dividends
CAAP vs. OMAB - Dividend Comparison
CAAP has not paid dividends to shareholders, while OMAB's dividend yield for the trailing twelve months is around 5.05%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CAAP Corporación América Airports S.A. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
OMAB Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. | 5.05% | 4.52% | 6.97% | 4.80% | 10.87% | 3.55% | 0.00% | 2.45% | 3.74% | 0.40% | 3.11% | 3.89% |
Financials
CAAP vs. OMAB - Financials Comparison
This section allows you to compare key financial metrics between Corporación América Airports S.A. and Grupo Aeroportuario del Centro Norte, S.A.B. de C.V.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
CAAP vs. OMAB - Profitability Comparison
CAAP - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Corporación América Airports S.A. reported a gross profit of 198.55M and revenue of 537.62M. Therefore, the gross margin over that period was 36.9%.
OMAB - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. reported a gross profit of 2.64B and revenue of 3.82B. Therefore, the gross margin over that period was 69.2%.
CAAP - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Corporación América Airports S.A. reported an operating income of 139.88M and revenue of 537.62M, resulting in an operating margin of 26.0%.
OMAB - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. reported an operating income of 2.08B and revenue of 3.82B, resulting in an operating margin of 54.5%.
CAAP - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Corporación América Airports S.A. reported a net income of 77.05M and revenue of 537.62M, resulting in a net margin of 14.3%.
OMAB - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Grupo Aeroportuario del Centro Norte, S.A.B. de C.V. reported a net income of 1.23B and revenue of 3.82B, resulting in a net margin of 32.3%.
Frequently Asked Questions
CAAP and OMAB have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CAAP has higher volatility (12.15%) compared to OMAB (11.51%). In terms of maximum drawdown, CAAP dropped -90.12% vs OMAB's -77.75%.
CAAP currently has the higher Sharpe Ratio (0.82 vs 0.36), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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