MDY vs NXH: Correlation
SPDR S&P MidCap 400 ETF (MDY) and Neighborhood Intelligence, Inc. (NXH) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDY and NXH?
Over the past 3 years, MDY and NXH moved with a correlation of 0.54, which is moderate. The relationship has been stable: the 1-year correlation (0.52) sits close to the 3-year figure. Over 5 years the correlation is 0.55, and the annualized covariance of weekly returns is 750.4 %².
Among the 359 assets we track against MDY, NXH ranks #261 by 3-year correlation. The last year tells two different stories: MDY led by 75.1 percentage points, +18.3% for MDY against -56.8% for NXH. Risk is not evenly split, since NXH carries 5.1 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.
MDY vs NXH: side by side
| MDY (SPDR S&P MidCap 400 ETF) | NXH (Neighborhood Intelligence, Inc.) | |
|---|---|---|
| 1-year return | +18.3% | -56.8% |
| 5-year return | +47.5% | -94.6% |
| Volatility (ann.) | 16.5% | 84.1% |
| Beta vs S&P 500 | 0.91 | 2.56 |
| Max drawdown (3Y) | -24.0% | -89.8% |
| Market cap | – | $0.4B |
| P/E (trailing) | – | – |
| Dividend yield | 1.02% | 0.00% |
| Expense ratio | 0.23% | – |
| Assets under management | $26.5B | – |
| Sector / category | ETF · US Small & Mid Cap | US Listed |
MDY is a Mid-Cap Blend fund from State Street Investment Management: $26.5B under management, 400 holdings, a 0.23% expense ratio, a 1.02% trailing dividend yield.
Year-by-year returns
| Year | MDY | NXH |
|---|---|---|
| 2022 | -13.3% | -67.2% |
| 2023 | +16.1% | +43.0% |
| 2024 | +13.6% | -82.2% |
| 2025 | +7.2% | +10.8% |
| 2026 | +16.4% | -27.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDY and NXH good diversifiers for each other?
Only partially. A correlation of 0.54 means MDY and NXH 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 MDY and NXH?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.52 over the last year and 0.55 over 5 years.
Is NXH a good diversifier for MDY?
Only partially. A correlation of 0.54 means MDY and NXH share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.54 mean?
A reading of 0.54 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/mdy-vs-nxh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mdy-vs-nxh/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MDY correlations · NXH correlations
