HAS vs MDY: Correlation
How closely do Hasbro (HAS) and SPDR S&P MidCap 400 ETF (MDY) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HAS and MDY?
On 3 years of weekly data the HAS/MDY correlation comes out at 0.49, moderate. Recent behaviour matches the longer record: 0.41 over 1 year against 0.49 over 3. The 5-year figure is 0.51, and annualized covariance runs at 257.5 %².
Among the 36 assets we track against HAS, MDY ranks #10 by 3-year correlation. Twelve-month performance is nearly a tie, at +19.2% for HAS and +18.3% for MDY. On a rolling one-year basis the correlation drifted between 0.35 and 0.63, a moderate band. Note the risk asymmetry: HAS runs 1.9 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.
HAS vs MDY: side by side
| HAS (Hasbro) | MDY (SPDR S&P MidCap 400 ETF) | |
|---|---|---|
| 1-year return | +19.2% | +18.3% |
| 5-year return | +17.1% | +47.5% |
| Volatility (ann.) | 31.7% | 16.5% |
| Beta vs S&P 500 | 0.86 | 0.91 |
| Max drawdown (3Y) | -40.3% | -24.0% |
| Market cap | $13.3B | – |
| P/E (trailing) | 17.1 | – |
| Dividend yield | 2.91% | 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 | HAS | MDY |
|---|---|---|
| 2022 | -37.9% | -13.3% |
| 2023 | -11.9% | +16.1% |
| 2024 | +14.8% | +13.6% |
| 2025 | +52.5% | +7.2% |
| 2026 | +17.5% | +16.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HAS and MDY good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HAS and MDY?
As of 2026-08-27, the correlation of weekly returns between HAS and MDY is 0.49 over 3 years, 0.41 over 1 year and 0.51 over 5 years.
Is MDY a good diversifier for HAS?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.49 mean?
A reading of 0.49 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: HAS correlations · MDY correlations
