MDY vs SCSC: Correlation
Measured on weekly returns over the past three years, SPDR S&P MidCap 400 ETF (MDY) and ScanSource, Inc. (SCSC) carry a correlation of 0.62, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDY and SCSC?
Over the past 3 years, MDY and SCSC moved with a correlation of 0.62, which is strong. The link has loosened recently: the 1-year correlation (0.32) runs below the 3-year figure (0.62). Over 5 years the correlation is 0.62, and the annualized covariance of weekly returns is 361.6 %².
By 3-year correlation, SCSC places #155 of the 359 assets tracked against MDY. The trailing year gives SCSC the advantage: +18.3% versus +30.0%, a 11.7-point spread. Note the risk asymmetry: SCSC runs 2.2 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 SCSC: side by side
| MDY (SPDR S&P MidCap 400 ETF) | SCSC (ScanSource, Inc.) | |
|---|---|---|
| 1-year return | +18.3% | +30.0% |
| 5-year return | +47.5% | +60.7% |
| Volatility (ann.) | 16.5% | 35.5% |
| Beta vs S&P 500 | 0.91 | 1.21 |
| Max drawdown (3Y) | -24.0% | -44.2% |
| Market cap | – | $1.2B |
| P/E (trailing) | – | 15.5 |
| 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 | SCSC |
|---|---|---|
| 2022 | -13.3% | -16.7% |
| 2023 | +16.1% | +35.6% |
| 2024 | +13.6% | +19.8% |
| 2025 | +7.2% | -17.7% |
| 2026 | +16.4% | +48.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDY and SCSC good diversifiers for each other?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MDY and SCSC?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.32 over the last year and 0.62 over 5 years.
Is SCSC a good diversifier for MDY?
Somewhat, no more. With 0.62 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.62 mean?
A reading of 0.62 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-scsc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mdy-vs-scsc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MDY correlations · SCSC correlations
