IPAR vs MDY: Correlation
Interparfums, Inc. (IPAR) and SPDR S&P MidCap 400 ETF (MDY) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IPAR and MDY?
Over the past 3 years, IPAR and MDY moved with a correlation of 0.54, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.44 versus 0.54 over 3 years. Over 5 years the correlation is 0.52, and the annualized covariance of weekly returns is 284.6 %².
Within IPAR's tracked universe of 13 assets, MDY comes in at #4 by 3-year correlation. The trailing year gives MDY the advantage: +4.5% versus +18.3%, a 13.8-point spread. Risk is not evenly split, since IPAR carries 1.9 times the volatility of the other side.
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.
IPAR vs MDY: side by side
| IPAR (Interparfums, Inc.) | MDY (SPDR S&P MidCap 400 ETF) | |
|---|---|---|
| 1-year return | +4.5% | +18.3% |
| 5-year return | +80.2% | +47.5% |
| Volatility (ann.) | 32.0% | 16.5% |
| Beta vs S&P 500 | 0.75 | 0.91 |
| Max drawdown (3Y) | -46.4% | -24.0% |
| Market cap | $3.8B | – |
| P/E (trailing) | 22.4 | – |
| Dividend yield | 2.74% | 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 | IPAR | MDY |
|---|---|---|
| 2022 | -7.4% | -13.3% |
| 2023 | +52.0% | +16.1% |
| 2024 | -6.5% | +13.6% |
| 2025 | -33.6% | +7.2% |
| 2026 | +40.6% | +16.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IPAR and MDY good diversifiers for each other?
To a limited degree. At 0.54 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 IPAR and MDY?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.44 over the last year and 0.52 over 5 years.
Is MDY a good diversifier for IPAR?
To a limited degree. At 0.54 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 0.54 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
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Related comparisons
Hubs: IPAR correlations · MDY correlations
