MDY vs RLGT: Correlation
SPDR S&P MidCap 400 ETF (MDY) and Radiant Logistics, Inc. (RLGT) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDY and RLGT?
On 3 years of weekly data the MDY/RLGT correlation comes out at 0.62, strong. Recent behaviour matches the longer record: 0.62 over 1 year against 0.62 over 3. The 5-year figure is 0.56, and annualized covariance runs at 320.0 %².
Within MDY's tracked universe of 359 assets, RLGT comes in at #154 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months RLGT outperformed by 16.5 percentage points (+18.3% for MDY against +34.8% for RLGT). Note the risk asymmetry: RLGT 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.
MDY vs RLGT: side by side
| MDY (SPDR S&P MidCap 400 ETF) | RLGT (Radiant Logistics, Inc.) | |
|---|---|---|
| 1-year return | +18.3% | +34.8% |
| 5-year return | +47.5% | +31.8% |
| Volatility (ann.) | 16.5% | 31.1% |
| Beta vs S&P 500 | 0.91 | 0.98 |
| Max drawdown (3Y) | -24.0% | -29.3% |
| Market cap | – | $0.4B |
| P/E (trailing) | – | 25.6 |
| 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 | RLGT |
|---|---|---|
| 2022 | -13.3% | -30.2% |
| 2023 | +16.1% | +30.5% |
| 2024 | +13.6% | +0.9% |
| 2025 | +7.2% | -5.5% |
| 2026 | +16.4% | +37.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDY and RLGT good diversifiers for each other?
Only partially. A correlation of 0.62 means MDY and RLGT 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 RLGT?
The MDY/RLGT correlation stands at 0.62 on a 3-year window (1 year: 0.62, 5 years: 0.56), computed from weekly returns as of 2026-08-27.
Is RLGT a good diversifier for MDY?
Only partially. A correlation of 0.62 means MDY and RLGT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.62 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-rlgt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mdy-vs-rlgt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MDY correlations · RLGT correlations
