MDY vs MEI: Correlation
Measured on weekly returns over the past three years, SPDR S&P MidCap 400 ETF (MDY) and Methode Electronics, Inc. (MEI) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDY and MEI?
On 3 years of weekly data the MDY/MEI correlation comes out at 0.49, moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.49 over 3. The 5-year figure is 0.48, and annualized covariance runs at 624.0 %².
By 3-year correlation, MEI places #306 of the 359 assets tracked against MDY. Correlation aside, the last 12 months split them widely, with MEI ahead by 116.4 points (+18.3% versus +134.7%). Note the risk asymmetry: MEI runs 4.6 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.
MDY vs MEI: side by side
| MDY (SPDR S&P MidCap 400 ETF) | MEI (Methode Electronics, Inc.) | |
|---|---|---|
| 1-year return | +18.3% | +134.7% |
| 5-year return | +47.5% | -56.2% |
| Volatility (ann.) | 16.5% | 76.6% |
| Beta vs S&P 500 | 0.91 | 1.94 |
| Max drawdown (3Y) | -24.0% | -82.7% |
| Market cap | – | $0.6B |
| P/E (trailing) | – | – |
| Dividend yield | 1.02% | 1.29% |
| Expense ratio | 0.23% | – |
| Assets under management | $26.5B | – |
| Sector / category | ETF · US Small & Mid Cap | US Listed |
On the fund side, MDY sits in the Mid-Cap Blend category at State Street Investment Management, with $26.5B under management, 400 holdings, a 0.23% expense ratio, a 1.02% trailing dividend yield.
Year-by-year returns
| Year | MDY | MEI |
|---|---|---|
| 2022 | -13.3% | -8.5% |
| 2023 | +16.1% | -47.9% |
| 2024 | +13.6% | -46.0% |
| 2025 | +7.2% | -40.5% |
| 2026 | +16.4% | +172.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDY and MEI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MDY and MEI?
As of 2026-08-27, the correlation of weekly returns between MDY and MEI is 0.49 over 3 years, 0.50 over 1 year and 0.48 over 5 years.
Is MEI a good diversifier for MDY?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.49 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mdy-vs-mei.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mdy-vs-mei/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MDY correlations · MEI correlations
