ITT vs MDY: Correlation
ITT Inc. (ITT) and SPDR S&P MidCap 400 ETF (MDY) show a strong relationship: their 3-year correlation of weekly returns is 0.78.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ITT and MDY?
Across a 3-year window, the weekly returns of ITT and MDY correlate at 0.78, strong. Lately the two have drifted apart, with the 1-year correlation at 0.67 versus 0.78 over 3 years. Stretching to 5 years gives 0.82, with an annualized covariance of 350.1 %².
In ITT's tracked universe of 38 assets, MDY sits right near the top at #2. Twelve-month performance is nearly a tie, at +20.8% for ITT and +18.3% for MDY. Risk is not evenly split, since ITT carries 1.7 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.
ITT vs MDY: side by side
| ITT (ITT Inc.) | MDY (SPDR S&P MidCap 400 ETF) | |
|---|---|---|
| 1-year return | +20.8% | +18.3% |
| 5-year return | +124.4% | +47.5% |
| Volatility (ann.) | 27.4% | 16.5% |
| Beta vs S&P 500 | 1.33 | 0.91 |
| Max drawdown (3Y) | -29.1% | -24.0% |
| Market cap | – | – |
| P/E (trailing) | 40.9 | – |
| Dividend yield | 0.70% | 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 | ITT | MDY |
|---|---|---|
| 2022 | -19.5% | -13.3% |
| 2023 | +48.9% | +16.1% |
| 2024 | +20.9% | +13.6% |
| 2025 | +22.5% | +7.2% |
| 2026 | +20.3% | +16.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.52% of MDY is ITT itself, so the fund partly moves with the stock by construction.
Are ITT and MDY good diversifiers for each other?
Somewhat, no more. With 0.78 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ITT and MDY?
Using weekly returns as of 2026-08-27: 0.78 over 3 years, with 0.67 over the last year and 0.82 over 5 years.
Is MDY a good diversifier for ITT?
Somewhat, no more. With 0.78 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.78 mean?
A reading of 0.78 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/itt-vs-mdy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/itt-vs-mdy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ITT correlations · MDY correlations
