MCFT vs MDY: Correlation
How closely do MasterCraft Boat Holdings, Inc. (MCFT) and SPDR S&P MidCap 400 ETF (MDY) trade together? Their weekly returns over three years give a correlation of 0.67, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MCFT and MDY?
Across a 3-year window, the weekly returns of MCFT and MDY correlate at 0.67, strong. Recent behaviour matches the longer record: 0.69 over 1 year against 0.67 over 3. Stretching to 5 years gives 0.62, with an annualized covariance of 429.9 %².
In MCFT's tracked universe of 22 assets, MDY sits right near the top at #3. On 12-month performance MDY holds a 12.7-point edge, +5.6% against +18.3%. Risk is not evenly split, since MCFT carries 2.4 times the volatility of the other side.
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.
MCFT vs MDY: side by side
| MCFT (MasterCraft Boat Holdings, Inc.) | MDY (SPDR S&P MidCap 400 ETF) | |
|---|---|---|
| 1-year return | +5.6% | +18.3% |
| 5-year return | -7.0% | +47.5% |
| Volatility (ann.) | 39.1% | 16.5% |
| Beta vs S&P 500 | 1.03 | 0.91 |
| Max drawdown (3Y) | -41.1% | -24.0% |
| Market cap | $0.6B | – |
| P/E (trailing) | 36.1 | – |
| 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 | MCFT | MDY |
|---|---|---|
| 2022 | -8.7% | -13.3% |
| 2023 | -12.5% | +16.1% |
| 2024 | -15.8% | +13.6% |
| 2025 | -0.8% | +7.2% |
| 2026 | +27.9% | +16.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MCFT and MDY good diversifiers for each other?
Only partially. A correlation of 0.67 means MCFT 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 MCFT and MDY?
Using weekly returns as of 2026-08-27: 0.67 over 3 years, with 0.69 over the last year and 0.62 over 5 years.
Is MDY a good diversifier for MCFT?
Only partially. A correlation of 0.67 means MCFT 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 0.67 mean?
On the −1 to +1 scale, 0.67 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
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Related comparisons
Hubs: MCFT correlations · MDY correlations
