HST vs MDY: Correlation
How closely do Host Hotels & Resorts (HST) and SPDR S&P MidCap 400 ETF (MDY) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HST and MDY?
Over the past 3 years, HST and MDY moved with a correlation of 0.62, which is strong. The link has loosened recently: the 1-year correlation (0.38) runs below the 3-year figure (0.62). Over 5 years the correlation is 0.67, and the annualized covariance of weekly returns is 249.6 %².
Among the 37 assets we track against HST, MDY ranks #14 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months HST outperformed by 20.9 percentage points (+39.2% for HST against +18.3% for MDY). Across three years, the rolling one-year figure varied moderately, from 0.43 to 0.79.
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.
HST vs MDY: side by side
| HST (Host Hotels & Resorts) | MDY (SPDR S&P MidCap 400 ETF) | |
|---|---|---|
| 1-year return | +39.2% | +18.3% |
| 5-year return | +73.4% | +47.5% |
| Volatility (ann.) | 24.2% | 16.5% |
| Beta vs S&P 500 | 0.78 | 0.91 |
| Max drawdown (3Y) | -36.0% | -24.0% |
| Market cap | $15.5B | – |
| P/E (trailing) | 15.1 | – |
| Dividend yield | 3.57% | 1.02% |
| Expense ratio | – | 0.23% |
| Assets under management | – | $26.5B |
| Sector / category | Real Estate | 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 | HST | MDY |
|---|---|---|
| 2022 | -4.6% | -13.3% |
| 2023 | +27.6% | +16.1% |
| 2024 | -5.5% | +13.6% |
| 2025 | +7.2% | +7.2% |
| 2026 | +32.2% | +16.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HST and MDY good diversifiers for each other?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between HST and MDY?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.38 over the last year and 0.67 over 5 years.
Is MDY a good diversifier for HST?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.62 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hst-vs-mdy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hst-vs-mdy/)
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Related comparisons
Hubs: HST correlations · MDY correlations
