MDY vs STKS: Correlation
How closely do SPDR S&P MidCap 400 ETF (MDY) and The ONE Group Hospitality, Inc. (STKS) trade together? Their weekly returns over three years give a correlation of 0.45, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDY and STKS?
Across a 3-year window, the weekly returns of MDY and STKS correlate at 0.45, moderate. The past 12 months show a weaker link (0.28) than the 3-year average (0.45). Stretching to 5 years gives 0.49, with an annualized covariance of 468.7 %².
By 3-year correlation, STKS places #336 of the 359 assets tracked against MDY. Their recent paths diverged sharply: over the last 12 months MDY outperformed by 60.5 percentage points (+18.3% for MDY against -42.2% for STKS). Risk is not evenly split, since STKS carries 3.8 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 STKS: side by side
| MDY (SPDR S&P MidCap 400 ETF) | STKS (The ONE Group Hospitality, Inc.) | |
|---|---|---|
| 1-year return | +18.3% | -42.2% |
| 5-year return | +47.5% | -85.0% |
| Volatility (ann.) | 16.5% | 63.5% |
| Beta vs S&P 500 | 0.91 | 1.30 |
| Max drawdown (3Y) | -24.0% | -76.5% |
| Market cap | – | $0.1B |
| 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 |
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 | STKS |
|---|---|---|
| 2022 | -13.3% | -50.0% |
| 2023 | +16.1% | -2.9% |
| 2024 | +13.6% | -52.6% |
| 2025 | +7.2% | -39.7% |
| 2026 | +16.4% | -5.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDY and STKS good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MDY and STKS?
As of 2026-08-27, the correlation of weekly returns between MDY and STKS is 0.45 over 3 years, 0.28 over 1 year and 0.49 over 5 years.
Is STKS a good diversifier for MDY?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 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-stks.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mdy-vs-stks/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MDY correlations · STKS correlations
