DD vs MDY: Correlation
Measured on weekly returns over the past three years, DuPont (DD) and SPDR S&P MidCap 400 ETF (MDY) carry a correlation of 0.58, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DD and MDY?
Across a 3-year window, the weekly returns of DD and MDY correlate at 0.58, moderate. The relationship has been stable: the 1-year correlation (0.54) sits close to the 3-year figure. Stretching to 5 years gives 0.69, with an annualized covariance of 275.3 %².
Among the 34 assets we track against DD, MDY ranks #5 by 3-year correlation. The last year tells two different stories: DD led by 26.4 percentage points, +44.7% for DD against +18.3% for MDY. The rolling one-year correlation moved between 0.35 and 0.78 over the past three years, a moderate range. Note the risk asymmetry: DD runs 1.7 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.
DD vs MDY: side by side
| DD (DuPont) | MDY (SPDR S&P MidCap 400 ETF) | |
|---|---|---|
| 1-year return | +44.7% | +18.3% |
| 5-year return | +64.0% | +47.5% |
| Volatility (ann.) | 28.8% | 16.5% |
| Beta vs S&P 500 | 0.93 | 0.91 |
| Max drawdown (3Y) | -37.8% | -24.0% |
| Market cap | $18.7B | – |
| P/E (trailing) | 59.1 | – |
| Dividend yield | 2.20% | 1.02% |
| Expense ratio | – | 0.23% |
| Assets under management | – | $26.5B |
| Sector / category | Industrials | 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 | DD | MDY |
|---|---|---|
| 2022 | -13.4% | -13.3% |
| 2023 | +14.4% | +16.1% |
| 2024 | +1.0% | +13.6% |
| 2025 | +28.7% | +7.2% |
| 2026 | +16.0% | +16.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DD and MDY good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DD and MDY?
Using weekly returns as of 2026-08-27: 0.58 over 3 years, with 0.54 over the last year and 0.69 over 5 years.
Is MDY a good diversifier for DD?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: DD correlations · MDY correlations
