LOVE vs MDY: Correlation
The Lovesac Company (LOVE) and SPDR S&P MidCap 400 ETF (MDY) show a strong relationship: their 3-year correlation of weekly returns is 0.61.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LOVE and MDY?
On 3 years of weekly data the LOVE/MDY correlation comes out at 0.61, strong. Recent behaviour matches the longer record: 0.59 over 1 year against 0.61 over 3. The 5-year figure is 0.60, and annualized covariance runs at 638.9 %².
In LOVE's tracked universe of 11 assets, MDY sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months MDY outperformed by 33.5 percentage points (-15.2% for LOVE against +18.3% for MDY). Note the risk asymmetry: LOVE runs 3.9 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.
LOVE vs MDY: side by side
| LOVE (The Lovesac Company) | MDY (SPDR S&P MidCap 400 ETF) | |
|---|---|---|
| 1-year return | -15.2% | +18.3% |
| 5-year return | -71.8% | +47.5% |
| Volatility (ann.) | 64.0% | 16.5% |
| Beta vs S&P 500 | 1.85 | 0.91 |
| Max drawdown (3Y) | -72.7% | -24.0% |
| Market cap | $0.2B | – |
| P/E (trailing) | 64.3 | – |
| 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 | LOVE | MDY |
|---|---|---|
| 2022 | -66.8% | -13.3% |
| 2023 | +16.1% | +16.1% |
| 2024 | -7.4% | +13.6% |
| 2025 | -37.7% | +7.2% |
| 2026 | +8.9% | +16.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LOVE and MDY good diversifiers for each other?
Only partially. A correlation of 0.61 means LOVE 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 LOVE and MDY?
As of 2026-08-27, the correlation of weekly returns between LOVE and MDY is 0.61 over 3 years, 0.59 over 1 year and 0.60 over 5 years.
Is MDY a good diversifier for LOVE?
Only partially. A correlation of 0.61 means LOVE 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 0.61 mean?
On the −1 to +1 scale, 0.61 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: LOVE correlations · MDY correlations
