FERG vs MDY: Correlation
Measured on weekly returns over the past three years, Ferguson Enterprises (FERG) and SPDR S&P MidCap 400 ETF (MDY) carry a correlation of 0.59, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FERG and MDY?
Across a 3-year window, the weekly returns of FERG and MDY correlate at 0.59, moderate. Recent behaviour matches the longer record: 0.53 over 1 year against 0.59 over 3. Stretching to 5 years gives 0.61, with an annualized covariance of 291.5 %².
Within FERG's tracked universe of 35 assets, MDY comes in at #5 by 3-year correlation. The last year tells two different stories: MDY led by 17.2 percentage points, +1.1% for FERG against +18.3% for MDY. The link looks structural: the rolling one-year correlation barely moved, holding between 0.52 and 0.75. One caveat on sizing: FERG 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.
FERG vs MDY: side by side
| FERG (Ferguson Enterprises) | MDY (SPDR S&P MidCap 400 ETF) | |
|---|---|---|
| 1-year return | +1.1% | +18.3% |
| 5-year return | +82.2% | +47.5% |
| Volatility (ann.) | 30.0% | 16.5% |
| Beta vs S&P 500 | 0.99 | 0.91 |
| Max drawdown (3Y) | -32.9% | -24.0% |
| Market cap | $45.1B | – |
| P/E (trailing) | 23.0 | – |
| Dividend yield | 1.80% | 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 | FERG | MDY |
|---|---|---|
| 2022 | -27.2% | -13.3% |
| 2023 | +55.1% | +16.1% |
| 2024 | -8.6% | +13.6% |
| 2025 | +29.9% | +7.2% |
| 2026 | +6.4% | +16.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FERG and MDY good diversifiers for each other?
To a limited degree. At 0.59 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 FERG and MDY?
The FERG/MDY correlation stands at 0.59 on a 3-year window (1 year: 0.53, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is MDY a good diversifier for FERG?
To a limited degree. At 0.59 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 0.59 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: FERG correlations · MDY correlations
