KN vs MDY: Correlation
How closely do Knowles Corporation (KN) and SPDR S&P MidCap 400 ETF (MDY) trade together? Their weekly returns over three years give a correlation of 0.75, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KN and MDY?
On 3 years of weekly data the KN/MDY correlation comes out at 0.75, strong. Recent behaviour matches the longer record: 0.70 over 1 year against 0.75 over 3. The 5-year figure is 0.67, and annualized covariance runs at 451.7 %².
Few assets follow KN as closely as MDY, which ranks #1 of 30 tracked partners. Correlation aside, the last 12 months split them widely, with KN ahead by 43.6 points (+61.9% versus +18.3%). Note the risk asymmetry: KN runs 2.2 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.
KN vs MDY: side by side
| KN (Knowles Corporation) | MDY (SPDR S&P MidCap 400 ETF) | |
|---|---|---|
| 1-year return | +61.9% | +18.3% |
| 5-year return | +73.8% | +47.5% |
| Volatility (ann.) | 36.5% | 16.5% |
| Beta vs S&P 500 | 1.65 | 0.91 |
| Max drawdown (3Y) | -38.0% | -24.0% |
| Market cap | $3.0B | – |
| P/E (trailing) | 41.1 | – |
| Dividend yield | 0.00% | 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 | KN | MDY |
|---|---|---|
| 2022 | -29.7% | -13.3% |
| 2023 | +9.1% | +16.1% |
| 2024 | +11.3% | +13.6% |
| 2025 | +7.5% | +7.2% |
| 2026 | +63.1% | +16.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KN and MDY good diversifiers for each other?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between KN and MDY?
Using weekly returns as of 2026-08-27: 0.75 over 3 years, with 0.70 over the last year and 0.67 over 5 years.
Is MDY a good diversifier for KN?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.75 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: KN correlations · MDY correlations
