MDU vs SR: Correlation
How closely do MDU Resources Group, Inc. (MDU) and Spire Inc. (SR) trade together? Their weekly returns over three years give a correlation of 0.59, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDU and SR?
Across a 3-year window, the weekly returns of MDU and SR correlate at 0.59, moderate. The past 12 months show a tighter link (0.77) than the 3-year average (0.59). Stretching to 5 years gives 0.54, with an annualized covariance of 291.0 %².
By 3-year correlation, SR places #5 of the 11 assets tracked against MDU. On 12-month performance MDU holds a 14.7-point edge, +26.3% against +11.6%.
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.
MDU vs SR: side by side
| MDU (MDU Resources Group, Inc.) | SR (Spire Inc.) | |
|---|---|---|
| 1-year return | +26.3% | +11.6% |
| 5-year return | +90.7% | +53.3% |
| Volatility (ann.) | 25.2% | 19.6% |
| Beta vs S&P 500 | 0.55 | 0.17 |
| Max drawdown (3Y) | -21.5% | -19.4% |
| Market cap | $4.2B | $4.9B |
| P/E (trailing) | 21.7 | 18.2 |
| Dividend yield | 2.76% | 3.90% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MDU | SR |
|---|---|---|
| 2022 | +1.5% | +9.8% |
| 2023 | -1.9% | -5.3% |
| 2024 | +68.0% | +14.1% |
| 2025 | +11.8% | +27.1% |
| 2026 | +4.8% | +1.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDU and SR good diversifiers for each other?
To a limited degree. At 0.59 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 MDU and SR?
The MDU/SR correlation stands at 0.59 on a 3-year window (1 year: 0.77, 5 years: 0.54), computed from weekly returns as of 2026-08-27.
Is SR a good diversifier for MDU?
To a limited degree. At 0.59 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 0.59 mean?
A reading of 0.59 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mdu-vs-sr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mdu-vs-sr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MDU correlations · SR correlations
