MDY vs TCRT: Correlation
How closely do SPDR S&P MidCap 400 ETF (MDY) and Alaunos Therapeutics, Inc. (TCRT) trade together? Their weekly returns over three years give a correlation of -0.15, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDY and TCRT?
Over the past 3 years, MDY and TCRT moved with a correlation of -0.15, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.15) sits close to the 3-year figure. Over 5 years the correlation is -0.00, and the annualized covariance of weekly returns is -298.9 %².
Among the 359 assets we track against MDY, TCRT sits near the bottom by co-movement, at rank #356. The last year tells two different stories: MDY led by 30.5 percentage points, +18.3% for MDY against -12.2% for TCRT. Note the risk asymmetry: TCRT runs 7.4 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 TCRT: side by side
| MDY (SPDR S&P MidCap 400 ETF) | TCRT (Alaunos Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +18.3% | -12.2% |
| 5-year return | +47.5% | -99.3% |
| Volatility (ann.) | 16.5% | 121.9% |
| Beta vs S&P 500 | 0.91 | -1.11 |
| Max drawdown (3Y) | -24.0% | -95.0% |
| Market cap | – | – |
| 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, 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 | TCRT |
|---|---|---|
| 2022 | -13.3% | -40.4% |
| 2023 | +16.1% | -89.2% |
| 2024 | +13.6% | -81.8% |
| 2025 | +7.2% | +69.1% |
| 2026 | +16.4% | -48.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDY and TCRT good diversifiers for each other?
By historical standards, yes. A correlation of -0.15 means the two rarely move for the same reasons.
FAQ
What is the correlation between MDY and TCRT?
As of 2026-08-27, the correlation of weekly returns between MDY and TCRT is -0.15 over 3 years, -0.15 over 1 year and -0.00 over 5 years.
Is TCRT a good diversifier for MDY?
By historical standards, yes. A correlation of -0.15 means the two rarely move for the same reasons.
What does a correlation of -0.15 mean?
On the −1 to +1 scale, -0.15 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-tcrt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mdy-vs-tcrt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MDY correlations · TCRT correlations
