MDY vs SNFCA: Correlation
Measured on weekly returns over the past three years, SPDR S&P MidCap 400 ETF (MDY) and Security National Financial Corporation (SNFCA) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDY and SNFCA?
Over the past 3 years, MDY and SNFCA moved with a correlation of 0.55, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.34 versus 0.55 over 3 years. Over 5 years the correlation is 0.46, and the annualized covariance of weekly returns is 312.1 %².
Among the 359 assets we track against MDY, SNFCA ranks #253 by 3-year correlation. On 12-month performance MDY holds a 13.9-point edge, +18.3% against +4.4%. Note the risk asymmetry: SNFCA runs 2.1 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 SNFCA: side by side
| MDY (SPDR S&P MidCap 400 ETF) | SNFCA (Security National Financial Corporation) | |
|---|---|---|
| 1-year return | +18.3% | +4.4% |
| 5-year return | +47.5% | +22.0% |
| Volatility (ann.) | 16.5% | 34.6% |
| Beta vs S&P 500 | 0.91 | 1.07 |
| Max drawdown (3Y) | -24.0% | -39.5% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | 6.9 |
| Dividend yield | 1.02% | 0.00% |
| Expense ratio | 0.23% | – |
| Assets under management | $26.5B | – |
| Sector / category | ETF · US Small & Mid Cap | US Listed |
On the fund side, MDY sits in the Mid-Cap Blend category at State Street Investment Management, with $26.5B under management, 400 holdings, a 0.23% expense ratio, a 1.02% trailing dividend yield.
Year-by-year returns
| Year | MDY | SNFCA |
|---|---|---|
| 2022 | -13.3% | -16.7% |
| 2023 | +16.1% | +29.5% |
| 2024 | +13.6% | +40.4% |
| 2025 | +7.2% | -21.4% |
| 2026 | +16.4% | +1.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDY and SNFCA good diversifiers for each other?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between MDY and SNFCA?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.34 over the last year and 0.46 over 5 years.
Is SNFCA a good diversifier for MDY?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.55 mean?
On the −1 to +1 scale, 0.55 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: MDY correlations · SNFCA correlations
