MDY vs TTC: Correlation
How closely do SPDR S&P MidCap 400 ETF (MDY) and Toro Company (The) (TTC) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDY and TTC?
Over the past 3 years, MDY and TTC moved with a correlation of 0.57, which is moderate. The relationship has been stable: the 1-year correlation (0.54) sits close to the 3-year figure. Over 5 years the correlation is 0.62, and the annualized covariance of weekly returns is 293.1 %².
Among the 359 assets we track against MDY, TTC ranks #230 by 3-year correlation. Their 12-month results are close: +18.3% for MDY against +22.8% for TTC. Note the risk asymmetry: TTC runs 1.9 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 TTC: side by side
| MDY (SPDR S&P MidCap 400 ETF) | TTC (Toro Company (The)) | |
|---|---|---|
| 1-year return | +18.3% | +22.8% |
| 5-year return | +47.5% | -3.5% |
| Volatility (ann.) | 16.5% | 31.1% |
| Beta vs S&P 500 | 0.91 | 0.98 |
| Max drawdown (3Y) | -24.0% | -36.9% |
| Market cap | – | – |
| P/E (trailing) | – | 28.9 |
| Dividend yield | 1.02% | 1.53% |
| 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 | TTC |
|---|---|---|
| 2022 | -13.3% | +14.9% |
| 2023 | +16.1% | -14.0% |
| 2024 | +13.6% | -15.2% |
| 2025 | +7.2% | +0.3% |
| 2026 | +16.4% | +27.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that MDY holds TTC at a 0.27% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are MDY and TTC good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MDY and TTC?
Using weekly returns as of 2026-08-27: 0.57 over 3 years, with 0.54 over the last year and 0.62 over 5 years.
Is TTC a good diversifier for MDY?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 mean?
A reading of 0.57 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-ttc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mdy-vs-ttc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MDY correlations · TTC correlations
