MDY vs SNA: Correlation
Measured on weekly returns over the past three years, SPDR S&P MidCap 400 ETF (MDY) and Snap-on (SNA) carry a correlation of 0.61, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDY and SNA?
On 3 years of weekly data the MDY/SNA correlation comes out at 0.61, strong. Recent behaviour matches the longer record: 0.53 over 1 year against 0.61 over 3. The 5-year figure is 0.66, and annualized covariance runs at 212.6 %².
By 3-year correlation, SNA places #167 of the 359 assets tracked against MDY. Neither side won the trailing year by much: +18.3% against +23.1%. The rolling one-year correlation stayed in a tight band between 0.54 and 0.73 over the past three years, which points to a structural rather than episodic relationship.
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 SNA: side by side
| MDY (SPDR S&P MidCap 400 ETF) | SNA (Snap-on) | |
|---|---|---|
| 1-year return | +18.3% | +23.1% |
| 5-year return | +47.5% | +99.6% |
| Volatility (ann.) | 16.5% | 21.3% |
| Beta vs S&P 500 | 0.91 | 0.70 |
| Max drawdown (3Y) | -24.0% | -20.8% |
| Market cap | – | $20.5B |
| P/E (trailing) | – | 20.2 |
| Dividend yield | 1.02% | 2.38% |
| Expense ratio | 0.23% | – |
| Assets under management | $26.5B | – |
| Sector / category | ETF · US Small & Mid Cap | Industrials |
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 | SNA |
|---|---|---|
| 2022 | -13.3% | +8.9% |
| 2023 | +16.1% | +29.7% |
| 2024 | +13.6% | +20.7% |
| 2025 | +7.2% | +4.3% |
| 2026 | +16.4% | +17.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDY and SNA good diversifiers for each other?
Only partially. A correlation of 0.61 means MDY and SNA 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 SNA?
Using weekly returns as of 2026-08-27: 0.61 over 3 years, with 0.53 over the last year and 0.66 over 5 years.
Is SNA a good diversifier for MDY?
Only partially. A correlation of 0.61 means MDY and SNA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.61 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-sna.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mdy-vs-sna/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MDY correlations · SNA correlations
