MDY vs TBBB: Correlation
Measured on weekly returns over the past three years, SPDR S&P MidCap 400 ETF (MDY) and BBB Foods Inc. Class A (TBBB) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDY and TBBB?
On 3 years of weekly data the MDY/TBBB correlation comes out at 0.42, moderate. Recent behaviour matches the longer record: 0.39 over 1 year against 0.42 over 3. The 5-year figure is n/a, and annualized covariance runs at 289.4 %².
Among the 359 assets we track against MDY, TBBB ranks #341 by 3-year correlation. The last year tells two different stories: TBBB led by 67.6 percentage points, +18.3% for MDY against +85.9% for TBBB. Risk is not evenly split, since TBBB carries 2.5 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 TBBB: side by side
| MDY (SPDR S&P MidCap 400 ETF) | TBBB (BBB Foods Inc. Class A) | |
|---|---|---|
| 1-year return | +18.3% | +85.9% |
| 5-year return | +47.5% | n/a |
| Volatility (ann.) | 16.5% | 41.8% |
| Beta vs S&P 500 | 0.91 | 0.96 |
| Max drawdown (3Y) | -24.0% | -29.6% |
| Market cap | – | $5.9B |
| 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 | TBBB |
|---|---|---|
| 2022 | -13.3% | – |
| 2023 | +16.1% | – |
| 2024 | +13.6% | – |
| 2025 | +7.2% | +18.1% |
| 2026 | +16.4% | +45.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDY and TBBB good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MDY and TBBB?
The MDY/TBBB correlation stands at 0.42 on a 3-year window (1 year: 0.39, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is TBBB a good diversifier for MDY?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 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
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Related comparisons
Hubs: MDY correlations · TBBB correlations
