MDY vs TITN: Correlation
Measured on weekly returns over the past three years, SPDR S&P MidCap 400 ETF (MDY) and Titan Machinery Inc. (TITN) carry a correlation of 0.57, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDY and TITN?
Across a 3-year window, the weekly returns of MDY and TITN correlate at 0.57, moderate. The relationship has been stable: the 1-year correlation (0.52) sits close to the 3-year figure. Stretching to 5 years gives 0.57, with an annualized covariance of 455.5 %².
Among the 359 assets we track against MDY, TITN ranks #229 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MDY ahead by 30.6 points (+18.3% versus -12.3%). One caveat on sizing: TITN is 3.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 TITN: side by side
| MDY (SPDR S&P MidCap 400 ETF) | TITN (Titan Machinery Inc.) | |
|---|---|---|
| 1-year return | +18.3% | -12.3% |
| 5-year return | +47.5% | -35.8% |
| Volatility (ann.) | 16.5% | 48.9% |
| Beta vs S&P 500 | 0.91 | 1.27 |
| Max drawdown (3Y) | -24.0% | -58.5% |
| Market cap | – | $0.4B |
| 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 | TITN |
|---|---|---|
| 2022 | -13.3% | +17.9% |
| 2023 | +16.1% | -27.3% |
| 2024 | +13.6% | -51.1% |
| 2025 | +7.2% | +6.4% |
| 2026 | +16.4% | +22.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDY and TITN good diversifiers for each other?
To a limited degree. At 0.57 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 TITN?
The MDY/TITN correlation stands at 0.57 on a 3-year window (1 year: 0.52, 5 years: 0.57), computed from weekly returns as of 2026-08-27.
Is TITN a good diversifier for MDY?
To a limited degree. At 0.57 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 0.57 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-titn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mdy-vs-titn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MDY correlations · TITN correlations
