HLT vs MDY: Correlation
Hilton Worldwide (HLT) and SPDR S&P MidCap 400 ETF (MDY) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HLT and MDY?
On 3 years of weekly data the HLT/MDY correlation comes out at 0.64, strong. Lately the two have drifted apart, with the 1-year correlation at 0.50 versus 0.64 over 3 years. The 5-year figure is 0.68, and annualized covariance runs at 217.9 %².
Within HLT's tracked universe of 40 assets, MDY comes in at #4 by 3-year correlation. Neither side won the trailing year by much: +18.1% against +18.3%. The rolling one-year correlation stayed in a tight band between 0.52 and 0.76 over the past three years, which points to a structural rather than episodic relationship.
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.
HLT vs MDY: side by side
| HLT (Hilton Worldwide) | MDY (SPDR S&P MidCap 400 ETF) | |
|---|---|---|
| 1-year return | +18.1% | +18.3% |
| 5-year return | +162.7% | +47.5% |
| Volatility (ann.) | 20.7% | 16.5% |
| Beta vs S&P 500 | 0.85 | 0.91 |
| Max drawdown (3Y) | -26.4% | -24.0% |
| Market cap | $73.3B | – |
| P/E (trailing) | 47.8 | – |
| Dividend yield | 0.18% | 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 | HLT | MDY |
|---|---|---|
| 2022 | -18.7% | -13.3% |
| 2023 | +44.7% | +16.1% |
| 2024 | +36.1% | +13.6% |
| 2025 | +16.5% | +7.2% |
| 2026 | +13.5% | +16.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLT and MDY good diversifiers for each other?
To a limited degree. At 0.64 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 HLT and MDY?
The HLT/MDY correlation stands at 0.64 on a 3-year window (1 year: 0.50, 5 years: 0.68), computed from weekly returns as of 2026-08-27.
Is MDY a good diversifier for HLT?
To a limited degree. At 0.64 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 0.64 mean?
A reading of 0.64 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: HLT correlations · MDY correlations
