LAMR vs MDY: Correlation
Lamar Advertising Company (LAMR) and SPDR S&P MidCap 400 ETF (MDY) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LAMR and MDY?
On 3 years of weekly data the LAMR/MDY correlation comes out at 0.64, strong. Lately the two have drifted apart, with the 1-year correlation at 0.50 versus 0.64 over 3 years. The 5-year figure is 0.72, and annualized covariance runs at 260.0 %².
In LAMR's tracked universe of 14 assets, MDY sits right near the top at #3. Over the last 12 months LAMR came out ahead by 5.7 percentage points (+24.0% against +18.3%).
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.
LAMR vs MDY: side by side
| LAMR (Lamar Advertising Company) | MDY (SPDR S&P MidCap 400 ETF) | |
|---|---|---|
| 1-year return | +24.0% | +18.3% |
| 5-year return | +68.6% | +47.5% |
| Volatility (ann.) | 24.7% | 16.5% |
| Beta vs S&P 500 | 0.90 | 0.91 |
| Max drawdown (3Y) | -23.9% | -24.0% |
| Market cap | $15.3B | – |
| P/E (trailing) | 27.5 | – |
| Dividend yield | 4.15% | 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 | LAMR | MDY |
|---|---|---|
| 2022 | -18.0% | -13.3% |
| 2023 | +18.6% | +16.1% |
| 2024 | +20.0% | +13.6% |
| 2025 | +9.7% | +7.2% |
| 2026 | +21.7% | +16.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
LAMR represents 0.36% of MDY's portfolio, so part of any move in MDY is LAMR itself, and the correlation between them is partly mechanical.
Are LAMR and MDY good diversifiers for each other?
To a limited degree. At 0.64 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 LAMR and MDY?
As of 2026-08-27, the correlation of weekly returns between LAMR and MDY is 0.64 over 3 years, 0.50 over 1 year and 0.72 over 5 years.
Is MDY a good diversifier for LAMR?
To a limited degree. At 0.64 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 0.64 mean?
On the −1 to +1 scale, 0.64 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/lamr-vs-mdy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/lamr-vs-mdy/)
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Related comparisons
Hubs: LAMR correlations · MDY correlations
