CARS vs MDY: Correlation
Cars.com Inc. (CARS) and SPDR S&P MidCap 400 ETF (MDY) show a moderate relationship: their 3-year correlation of weekly returns is 0.55.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CARS and MDY?
On 3 years of weekly data the CARS/MDY correlation comes out at 0.55, moderate. The relationship has been stable: the 1-year correlation (0.54) sits close to the 3-year figure. The 5-year figure is 0.48, and annualized covariance runs at 382.0 %².
Within CARS's tracked universe of 14 assets, MDY comes in at #4 by 3-year correlation. The last year tells two different stories: MDY led by 28.9 percentage points, -10.6% for CARS against +18.3% for MDY. Note the risk asymmetry: CARS runs 2.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CARS vs MDY: side by side
| CARS (Cars.com Inc.) | MDY (SPDR S&P MidCap 400 ETF) | |
|---|---|---|
| 1-year return | -10.6% | +18.3% |
| 5-year return | -7.8% | +47.5% |
| Volatility (ann.) | 42.1% | 16.5% |
| Beta vs S&P 500 | 1.42 | 0.91 |
| Max drawdown (3Y) | -63.4% | -24.0% |
| Market cap | $0.6B | – |
| P/E (trailing) | 21.0 | – |
| Dividend yield | 0.00% | 1.02% |
| Expense ratio | – | 0.23% |
| Assets under management | – | $26.5B |
| Sector / category | US Listed | ETF · US Small & Mid Cap |
MDY, State Street Investment Management's Mid-Cap Blend fund, carries $26.5B under management, 400 holdings, a 0.23% expense ratio, a 1.02% trailing dividend yield.
Year-by-year returns
| Year | CARS | MDY |
|---|---|---|
| 2022 | -14.4% | -13.3% |
| 2023 | +37.8% | +16.1% |
| 2024 | -8.6% | +13.6% |
| 2025 | -29.6% | +7.2% |
| 2026 | -3.5% | +16.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CARS and MDY good diversifiers for each other?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CARS and MDY?
As of 2026-08-27, the correlation of weekly returns between CARS and MDY is 0.55 over 3 years, 0.54 over 1 year and 0.48 over 5 years.
Is MDY a good diversifier for CARS?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.55 mean?
A reading of 0.55 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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Related comparisons
Hubs: CARS correlations · MDY correlations
