FLL vs MDY: Correlation
Full House Resorts, Inc. (FLL) and SPDR S&P MidCap 400 ETF (MDY) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLL and MDY?
Over the past 3 years, FLL and MDY moved with a correlation of 0.45, which is moderate. Recent behaviour matches the longer record: 0.37 over 1 year against 0.45 over 3. Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 440.0 %².
In FLL's tracked universe of 15 assets, MDY sits right near the top at #3. Their recent paths diverged sharply: over the last 12 months MDY outperformed by 63.9 percentage points (-45.6% for FLL against +18.3% for MDY). One caveat on sizing: FLL is 3.6 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.
FLL vs MDY: side by side
| FLL (Full House Resorts, Inc.) | MDY (SPDR S&P MidCap 400 ETF) | |
|---|---|---|
| 1-year return | -45.6% | +18.3% |
| 5-year return | -75.5% | +47.5% |
| Volatility (ann.) | 59.8% | 16.5% |
| Beta vs S&P 500 | 1.44 | 0.91 |
| Max drawdown (3Y) | -66.2% | -24.0% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| 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 | FLL | MDY |
|---|---|---|
| 2022 | -37.9% | -13.3% |
| 2023 | -28.6% | +16.1% |
| 2024 | -24.0% | +13.6% |
| 2025 | -36.0% | +7.2% |
| 2026 | -21.1% | +16.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLL and MDY good diversifiers for each other?
Reasonably. At 0.45, FLL and MDY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FLL and MDY?
As of 2026-08-27, the correlation of weekly returns between FLL and MDY is 0.45 over 3 years, 0.37 over 1 year and 0.48 over 5 years.
Is MDY a good diversifier for FLL?
Reasonably. At 0.45, FLL and MDY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 mean?
A reading of 0.45 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: FLL correlations · MDY correlations
