F vs MDY: Correlation
Ford Motor Company (F) and SPDR S&P MidCap 400 ETF (MDY) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are F and MDY?
On 3 years of weekly data the F/MDY correlation comes out at 0.48, moderate. Recent behaviour matches the longer record: 0.44 over 1 year against 0.48 over 3. The 5-year figure is 0.59, and annualized covariance runs at 288.0 %².
Among the 35 assets we track against F, MDY ranks #12 by 3-year correlation. Neither side won the trailing year by much: +22.6% against +18.3%. The rolling one-year correlation moved between 0.38 and 0.71 over the past three years, a moderate range. Risk is not evenly split, since F carries 2.2 times the volatility of the other side.
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.
F vs MDY: side by side
| F (Ford Motor Company) | MDY (SPDR S&P MidCap 400 ETF) | |
|---|---|---|
| 1-year return | +22.6% | +18.3% |
| 5-year return | +45.8% | +47.5% |
| Volatility (ann.) | 36.1% | 16.5% |
| Beta vs S&P 500 | 1.06 | 0.91 |
| Max drawdown (3Y) | -36.5% | -24.0% |
| Market cap | $55.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 4.32% | 1.02% |
| Expense ratio | – | 0.23% |
| Assets under management | – | $26.5B |
| Sector / category | Consumer Discretionary | 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 | F | MDY |
|---|---|---|
| 2022 | -42.2% | -13.3% |
| 2023 | +15.8% | +16.1% |
| 2024 | -13.1% | +13.6% |
| 2025 | +42.3% | +7.2% |
| 2026 | +10.0% | +16.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are F and MDY good diversifiers for each other?
Reasonably. At 0.48, F and MDY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between F and MDY?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.44 over the last year and 0.59 over 5 years.
Is MDY a good diversifier for F?
Reasonably. At 0.48, F and MDY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 mean?
A reading of 0.48 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: F correlations · MDY correlations
