MDY vs SRI: Correlation
SPDR S&P MidCap 400 ETF (MDY) and Stoneridge, Inc. (SRI) show a moderate relationship: their 3-year correlation of weekly returns is 0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDY and SRI?
On 3 years of weekly data the MDY/SRI correlation comes out at 0.57, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.68 versus 0.57 over 3 years. The 5-year figure is 0.52, and annualized covariance runs at 558.9 %².
Among the 359 assets we track against MDY, SRI ranks #228 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months MDY outperformed by 35.7 percentage points (+18.3% for MDY against -17.4% for SRI). Risk is not evenly split, since SRI carries 3.6 times the volatility of the other side.
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 SRI: side by side
| MDY (SPDR S&P MidCap 400 ETF) | SRI (Stoneridge, Inc.) | |
|---|---|---|
| 1-year return | +18.3% | -17.4% |
| 5-year return | +47.5% | -69.5% |
| Volatility (ann.) | 16.5% | 59.7% |
| Beta vs S&P 500 | 0.91 | 1.79 |
| Max drawdown (3Y) | -24.0% | -82.9% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | – |
| 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 is a Mid-Cap Blend fund from State Street Investment Management: $26.5B under management, 400 holdings, a 0.23% expense ratio, a 1.02% trailing dividend yield.
Year-by-year returns
| Year | MDY | SRI |
|---|---|---|
| 2022 | -13.3% | +9.2% |
| 2023 | +16.1% | -9.2% |
| 2024 | +13.6% | -68.0% |
| 2025 | +7.2% | -7.7% |
| 2026 | +16.4% | +22.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDY and SRI good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MDY and SRI?
Using weekly returns as of 2026-08-27: 0.57 over 3 years, with 0.68 over the last year and 0.52 over 5 years.
Is SRI a good diversifier for MDY?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 mean?
On the −1 to +1 scale, 0.57 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mdy-vs-sri.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mdy-vs-sri/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MDY correlations · SRI correlations
