MDY vs REZI: Correlation
Measured on weekly returns over the past three years, SPDR S&P MidCap 400 ETF (MDY) and Resideo Technologies, Inc. (REZI) carry a correlation of 0.59, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDY and REZI?
On 3 years of weekly data the MDY/REZI correlation comes out at 0.59, moderate. Little has changed lately, as the 1-year reading of 0.49 lands near the 3-year figure. The 5-year figure is 0.59, and annualized covariance runs at 476.0 %².
Within MDY's tracked universe of 359 assets, REZI comes in at #196 by 3-year correlation. The last year tells two different stories: MDY led by 35.6 percentage points, +18.3% for MDY against -17.3% for REZI. Note the risk asymmetry: REZI runs 3.0 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 REZI: side by side
| MDY (SPDR S&P MidCap 400 ETF) | REZI (Resideo Technologies, Inc.) | |
|---|---|---|
| 1-year return | +18.3% | -17.3% |
| 5-year return | +47.5% | -11.7% |
| Volatility (ann.) | 16.5% | 48.9% |
| Beta vs S&P 500 | 0.91 | 1.58 |
| Max drawdown (3Y) | -24.0% | -47.1% |
| Market cap | – | $3.0B |
| P/E (trailing) | – | 7.8 |
| 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, 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 | MDY | REZI |
|---|---|---|
| 2022 | -13.3% | -36.8% |
| 2023 | +16.1% | +14.4% |
| 2024 | +13.6% | +22.5% |
| 2025 | +7.2% | +52.4% |
| 2026 | +16.4% | -18.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDY and REZI good diversifiers for each other?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MDY and REZI?
As of 2026-08-27, the correlation of weekly returns between MDY and REZI is 0.59 over 3 years, 0.49 over 1 year and 0.59 over 5 years.
Is REZI a good diversifier for MDY?
Somewhat, no more. With 0.59 correlation, most large moves hit both names, and the diversification benefit stays modest.
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/mdy-vs-rezi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mdy-vs-rezi/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MDY correlations · REZI correlations
