DXPE vs MDY: Correlation
Measured on weekly returns over the past three years, DXP Enterprises, Inc. (DXPE) and SPDR S&P MidCap 400 ETF (MDY) carry a correlation of 0.57, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DXPE and MDY?
Over the past 3 years, DXPE and MDY moved with a correlation of 0.57, which is moderate. The relationship has been stable: the 1-year correlation (0.55) sits close to the 3-year figure. Over 5 years the correlation is 0.46, and the annualized covariance of weekly returns is 467.7 %².
In DXPE's tracked universe of 12 assets, MDY sits right near the top at #3. Correlation aside, the last 12 months split them widely, with DXPE ahead by 37.0 points (+55.3% versus +18.3%). Note the risk asymmetry: DXPE runs 3.0 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.
DXPE vs MDY: side by side
| DXPE (DXP Enterprises, Inc.) | MDY (SPDR S&P MidCap 400 ETF) | |
|---|---|---|
| 1-year return | +55.3% | +18.3% |
| 5-year return | +542.5% | +47.5% |
| Volatility (ann.) | 49.8% | 16.5% |
| Beta vs S&P 500 | 1.41 | 0.91 |
| Max drawdown (3Y) | -33.0% | -24.0% |
| Market cap | $3.0B | – |
| P/E (trailing) | 33.5 | – |
| 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 | DXPE | MDY |
|---|---|---|
| 2022 | +7.3% | -13.3% |
| 2023 | +22.3% | +16.1% |
| 2024 | +145.2% | +13.6% |
| 2025 | +32.9% | +7.2% |
| 2026 | +75.6% | +16.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DXPE and MDY good diversifiers for each other?
Only partially. A correlation of 0.57 means DXPE and MDY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between DXPE and MDY?
Using weekly returns as of 2026-08-27: 0.57 over 3 years, with 0.55 over the last year and 0.46 over 5 years.
Is MDY a good diversifier for DXPE?
Only partially. A correlation of 0.57 means DXPE and MDY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.57 mean?
On the −1 to +1 scale, 0.57 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
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Related comparisons
Hubs: DXPE correlations · MDY correlations
