TIGO vs. CX
TIGO (Millicom International Cellular S.A.) and CX (CEMEX, S.A.B. de C.V.) are both stocks. TIGO operates in Telecom Services (Communication Services), while CX operates in Building Materials (Basic Materials). Over the past 10 years, TIGO returned 7.41%/yr vs 8.18%/yr for CX. At a 0.29 correlation, their price movements are largely independent.
Performance
TIGO vs. CX - Performance Comparison
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Returns By Period
In the year-to-date period, TIGO achieves a 61.53% return, which is significantly higher than CX's 12.51% return. Over the past 10 years, TIGO has underperformed CX with an annualized return of 7.41%, while CX has yielded a comparatively higher 8.18% annualized return.
TIGO
- 1D
- -3.16%
- 1M
- 3.02%
- YTD
- 61.53%
- 6M
- 71.04%
- 1Y
- 159.36%
- 3Y*
- 80.49%
- 5Y*
- 18.49%
- 10Y*
- 7.41%
CX
- 1D
- -1.23%
- 1M
- 8.49%
- YTD
- 12.51%
- 6M
- 19.05%
- 1Y
- 90.98%
- 3Y*
- 27.50%
- 5Y*
- 9.92%
- 10Y*
- 8.18%
TIGO vs. CX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TIGO Millicom International Cellular S.A. | 61.53% | 152.35% | 38.94% | 42.52% | -55.61% | -26.64% | -19.59% | -20.28% | -1.32% | 66.94% |
CX CEMEX, S.A.B. de C.V. | 12.51% | 105.97% | -26.48% | 91.36% | -40.27% | 31.14% | 36.77% | -19.55% | -35.73% | -2.86% |
Correlation
The correlation between TIGO and CX is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.32 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Jun 1, 2011 | 0.29 |
The correlation between TIGO and CX shifts across timeframes, from 0.18 (1 year) to 0.32 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
TIGO:
$14.42B
CX:
$1.89B
TIGO:
$7.34
CX:
$0.57
TIGO:
11.72
CX:
22.81
TIGO:
0.04
CX:
0.07
TIGO:
2.25
CX:
0.63
TIGO:
4.60
CX:
0.17
TIGO:
$6.43B
CX:
$16.57B
TIGO:
$4.49B
CX:
$5.51B
TIGO:
$3.52B
CX:
$1.63B
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Return for Risk
TIGO vs. CX — Risk / Return Rank
TIGO
CX
TIGO vs. CX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Millicom International Cellular S.A. (TIGO) and CEMEX, S.A.B. de C.V. (CX). 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.
| TIGO | CX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.89 | ||
| Sortino ratioReturn per unit of downside risk | +1.06 | ||
| Omega ratioGain probability vs. loss probability | 1.61 | 1.42 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 14.51 | 3.81 | +10.69 |
| Martin ratioReturn relative to average drawdown | 41.07 | 13.80 | +27.28 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TIGO | CX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.49 | 2.60 | +1.89 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.47 | 0.25 | +0.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.19 | 0.19 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.03 | 0.14 | -0.11 |
Drawdowns
TIGO vs. CX - Drawdown Comparison
The maximum TIGO drawdown since its inception was -88.26%, roughly equal to the maximum CX drawdown of -92.37%. Use the drawdown chart below to compare losses from any high point for TIGO and CX.
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Drawdown Indicators
| TIGO | CX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.26% | -92.37% | +4.11% |
Max Drawdown (1Y)Largest decline over 1 year | -11.05% | -23.99% | +12.94% |
Max Drawdown (3Y)Largest decline over 3 years | -17.69% | -44.38% | +26.69% |
Max Drawdown (5Y)Largest decline over 5 years | -75.92% | -63.05% | -12.87% |
Max Drawdown (10Y)Largest decline over 10 years | -84.51% | -83.70% | -0.81% |
Current DrawdownCurrent decline from peak | -3.16% | -38.17% | +35.01% |
Average DrawdownAverage peak-to-trough decline | -45.76% | -51.18% | +5.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.90% | 6.62% | -2.72% |
Volatility
TIGO vs. CX - Volatility Comparison
The current volatility for Millicom International Cellular S.A. (TIGO) is 11.38%, while CEMEX, S.A.B. de C.V. (CX) has a volatility of 13.21%. This indicates that TIGO experiences smaller price fluctuations and is considered to be less risky than CX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TIGO | CX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.38% | 13.21% | -1.83% |
Volatility (6M)Calculated over the trailing 6-month period | 27.26% | 28.69% | -1.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.76% | 35.12% | +0.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.64% | 39.79% | -0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.33% | 43.53% | -5.20% |
Dividends
TIGO vs. CX - Dividend Comparison
TIGO's dividend yield for the trailing twelve months is around 6.39%, more than CX's 0.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
CX CEMEX, S.A.B. de C.V. | 0.69% | 0.76% | 1.10% | 0.00% | 0.00% | 0.00% | 0.00% | 2.64% | 0.00% | 0.00% | 0.00% |
TIGO Millicom International Cellular S.A. | 6.39% | 8.12% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 5.47% | 4.15% | 3.92% | 6.23% |
Financials
TIGO vs. CX - Financials Comparison
This section allows you to compare key financial metrics between Millicom International Cellular S.A. and CEMEX, 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
TIGO vs. CX - Profitability Comparison
TIGO - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Millicom International Cellular S.A. reported a gross profit of 1.04B and revenue of 1.98B. Therefore, the gross margin over that period was 52.3%.
CX - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, CEMEX, S.A.B. de C.V. reported a gross profit of 1.32B and revenue of 4.02B. Therefore, the gross margin over that period was 32.9%.
TIGO - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Millicom International Cellular S.A. reported an operating income of 389.00M and revenue of 1.98B, resulting in an operating margin of 19.6%.
CX - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, CEMEX, S.A.B. de C.V. reported an operating income of 452.69M and revenue of 4.02B, resulting in an operating margin of 11.3%.
TIGO - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Millicom International Cellular S.A. reported a net income of 109.00M and revenue of 1.98B, resulting in a net margin of 5.5%.
CX - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, CEMEX, S.A.B. de C.V. reported a net income of 227.66M and revenue of 4.02B, resulting in a net margin of 5.7%.
Frequently Asked Questions
TIGO and CX have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CX has higher volatility (13.21%) compared to TIGO (11.38%). In terms of maximum drawdown, TIGO dropped -88.26% vs CX's -92.37%.
TIGO currently has the higher Sharpe Ratio (4.49 vs 2.60), 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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