CRH vs MDY: Correlation
How closely do CRH plc (CRH) and SPDR S&P MidCap 400 ETF (MDY) trade together? Their weekly returns over three years give a correlation of 0.68, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRH and MDY?
Across a 3-year window, the weekly returns of CRH and MDY correlate at 0.68, strong. Little has changed lately, as the 1-year reading of 0.65 lands near the 3-year figure. Stretching to 5 years gives 0.67, with an annualized covariance of 330.8 %².
MDY is one of the assets that tracks CRH most closely: it ranks #3 out of the 40 assets we track against CRH. Correlation aside, the last 12 months split them widely, with MDY ahead by 32.9 points (-14.6% versus +18.3%). Stability stands out here, with the rolling one-year correlation confined to 0.61 through 0.79. One caveat on sizing: CRH is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CRH vs MDY: side by side
| CRH (CRH plc) | MDY (SPDR S&P MidCap 400 ETF) | |
|---|---|---|
| 1-year return | -14.6% | +18.3% |
| 5-year return | +104.1% | +47.5% |
| Volatility (ann.) | 29.7% | 16.5% |
| Beta vs S&P 500 | 1.26 | 0.91 |
| Max drawdown (3Y) | -28.4% | -24.0% |
| Market cap | $63.6B | – |
| P/E (trailing) | 17.2 | – |
| Dividend yield | 1.57% | 1.02% |
| Expense ratio | – | 0.23% |
| Assets under management | – | $26.5B |
| Sector / category | Materials | 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 | CRH | MDY |
|---|---|---|
| 2022 | -20.5% | -13.3% |
| 2023 | +81.3% | +16.1% |
| 2024 | +35.9% | +13.6% |
| 2025 | +35.9% | +7.2% |
| 2026 | -22.6% | +16.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRH and MDY good diversifiers for each other?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CRH and MDY?
Using weekly returns as of 2026-08-27: 0.68 over 3 years, with 0.65 over the last year and 0.67 over 5 years.
Is MDY a good diversifier for CRH?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.68 mean?
A reading of 0.68 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: CRH correlations · MDY correlations
