MDRR vs SPY: Correlation
Measured on weekly returns over the past three years, Medalist Diversified, Inc. (MDRR) and SPDR S&P 500 ETF Trust (SPY) carry a correlation of -0.01, a near-zero link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDRR and SPY?
On 3 years of weekly data the MDRR/SPY correlation comes out at -0.01, near zero, meaning they move largely independently. Little has changed lately, as the 1-year reading of 0.03 lands near the 3-year figure. The 5-year figure is 0.09, and annualized covariance runs at -3.9 %².
Among the 36 assets we track against MDRR, SPY ranks #6 by 3-year correlation. The last year tells two different stories: SPY led by 15.8 percentage points, +4.8% for MDRR against +20.6% for SPY. Note the risk asymmetry: MDRR runs 1.9 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.
MDRR vs SPY: side by side
| MDRR (Medalist Diversified, Inc.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +4.8% | +20.6% |
| 5-year return | -31.3% | +82.4% |
| Volatility (ann.) | 28.1% | 14.5% |
| Beta vs S&P 500 | -0.02 | 1.00 |
| Max drawdown (3Y) | -29.5% | -18.8% |
| Market cap | – | – |
| P/E (trailing) | 3.1 | – |
| Dividend yield | 2.21% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | US Listed | ETF · US Large Cap |
SPY is a Large Blend fund from State Street Investment Management: $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | MDRR | SPY |
|---|---|---|
| 2022 | -37.3% | -18.2% |
| 2023 | -4.0% | +26.2% |
| 2024 | +28.6% | +24.9% |
| 2025 | -5.5% | +17.7% |
| 2026 | -0.7% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDRR and SPY good diversifiers for each other?
By historical standards, yes. A correlation of -0.01 means the two rarely move for the same reasons.
FAQ
What is the correlation between MDRR and SPY?
The MDRR/SPY correlation stands at -0.01 on a 3-year window (1 year: 0.03, 5 years: 0.09), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for MDRR?
By historical standards, yes. A correlation of -0.01 means the two rarely move for the same reasons.
What does a correlation of -0.01 mean?
A reading of -0.01 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: MDRR correlations · SPY correlations
