MDY vs TPR: Correlation
Measured on weekly returns over the past three years, SPDR S&P MidCap 400 ETF (MDY) and Tapestry, Inc. (TPR) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDY and TPR?
Across a 3-year window, the weekly returns of MDY and TPR correlate at 0.49, moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.49 over 3. Stretching to 5 years gives 0.56, with an annualized covariance of 302.7 %².
Among the 359 assets we track against MDY, TPR ranks #308 by 3-year correlation. The trailing year gives TPR the advantage: +18.3% versus +23.6%, a 5.3-point spread. The rolling one-year correlation moved between 0.33 and 0.68 over the past three years, a moderate range. Risk is not evenly split, since TPR carries 2.3 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 TPR: side by side
| MDY (SPDR S&P MidCap 400 ETF) | TPR (Tapestry, Inc.) | |
|---|---|---|
| 1-year return | +18.3% | +23.6% |
| 5-year return | +47.5% | +240.1% |
| Volatility (ann.) | 16.5% | 37.8% |
| Beta vs S&P 500 | 0.91 | 1.05 |
| Max drawdown (3Y) | -24.0% | -31.8% |
| Market cap | – | $24.6B |
| P/E (trailing) | – | 17.9 |
| Dividend yield | 1.02% | 1.23% |
| Expense ratio | 0.23% | – |
| Assets under management | $26.5B | – |
| Sector / category | ETF · US Small & Mid Cap | Consumer Discretionary |
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 | TPR |
|---|---|---|
| 2022 | -13.3% | -3.3% |
| 2023 | +16.1% | +0.2% |
| 2024 | +13.6% | +82.8% |
| 2025 | +7.2% | +98.7% |
| 2026 | +16.4% | -3.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDY and TPR good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MDY and TPR?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.50 over the last year and 0.56 over 5 years.
Is TPR a good diversifier for MDY?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.49 mean?
A reading of 0.49 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mdy-vs-tpr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mdy-vs-tpr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MDY correlations · TPR correlations
