LLYVK vs MDY: Correlation
Measured on weekly returns over the past three years, Liberty Live Holdings, Inc. - Series C Liberty Live Group (LLYVK) and SPDR S&P MidCap 400 ETF (MDY) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LLYVK and MDY?
Across a 3-year window, the weekly returns of LLYVK and MDY correlate at 0.51, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.28 versus 0.51 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of 260.4 %².
Within LLYVK's tracked universe of 13 assets, MDY comes in at #4 by 3-year correlation. Over the last 12 months MDY came out ahead by 11.2 percentage points (+7.1% against +18.3%). One caveat on sizing: LLYVK is 1.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
LLYVK vs MDY: side by side
| LLYVK (Liberty Live Holdings, Inc. - Series C Liberty Live Group) | MDY (SPDR S&P MidCap 400 ETF) | |
|---|---|---|
| 1-year return | +7.1% | +18.3% |
| 5-year return | n/a | +47.5% |
| Volatility (ann.) | 30.9% | 16.5% |
| Beta vs S&P 500 | 0.96 | 0.91 |
| Max drawdown (3Y) | -24.1% | -24.0% |
| Market cap | $9.5B | – |
| P/E (trailing) | – | – |
| 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 | LLYVK | MDY |
|---|---|---|
| 2022 | – | -13.3% |
| 2023 | – | +16.1% |
| 2024 | +82.0% | +13.6% |
| 2025 | +22.2% | +7.2% |
| 2026 | +24.4% | +16.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LLYVK and MDY good diversifiers for each other?
Only partially. A correlation of 0.51 means LLYVK and MDY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between LLYVK and MDY?
As of 2026-08-27, the correlation of weekly returns between LLYVK and MDY is 0.51 over 3 years, 0.28 over 1 year and n/a over 5 years.
Is MDY a good diversifier for LLYVK?
Only partially. A correlation of 0.51 means LLYVK and MDY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 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: LLYVK correlations · MDY correlations
