KFY vs MDY: Correlation
Korn Ferry (KFY) and SPDR S&P MidCap 400 ETF (MDY) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KFY and MDY?
Over the past 3 years, KFY and MDY moved with a correlation of 0.62, which is strong. The past 12 months show a weaker link (0.28) than the 3-year average (0.62). Over 5 years the correlation is 0.66, and the annualized covariance of weekly returns is 269.3 %².
Within KFY's tracked universe of 22 assets, MDY comes in at #4 by 3-year correlation. Neither side won the trailing year by much: +16.2% against +18.3%. Note the risk asymmetry: KFY runs 1.6 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.
KFY vs MDY: side by side
| KFY (Korn Ferry) | MDY (SPDR S&P MidCap 400 ETF) | |
|---|---|---|
| 1-year return | +16.2% | +18.3% |
| 5-year return | +30.5% | +47.5% |
| Volatility (ann.) | 26.3% | 16.5% |
| Beta vs S&P 500 | 0.89 | 0.91 |
| Max drawdown (3Y) | -24.1% | -24.0% |
| Market cap | $4.3B | – |
| P/E (trailing) | 16.1 | – |
| Dividend yield | 2.37% | 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 | KFY | MDY |
|---|---|---|
| 2022 | -32.4% | -13.3% |
| 2023 | +19.1% | +16.1% |
| 2024 | +16.1% | +13.6% |
| 2025 | +0.6% | +7.2% |
| 2026 | +30.4% | +16.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KFY and MDY good diversifiers for each other?
To a limited degree. At 0.62 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 KFY and MDY?
The KFY/MDY correlation stands at 0.62 on a 3-year window (1 year: 0.28, 5 years: 0.66), computed from weekly returns as of 2026-08-27.
Is MDY a good diversifier for KFY?
To a limited degree. At 0.62 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 0.62 mean?
On the −1 to +1 scale, 0.62 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: KFY correlations · MDY correlations
