MDY vs VCTR: Correlation
SPDR S&P MidCap 400 ETF (MDY) and Victory Capital Holdings, Inc. (VCTR) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDY and VCTR?
On 3 years of weekly data the MDY/VCTR correlation comes out at 0.58, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.21 versus 0.58 over 3 years. The 5-year figure is 0.61, and annualized covariance runs at 295.9 %².
By 3-year correlation, VCTR places #216 of the 359 assets tracked against MDY. Correlation aside, the last 12 months split them widely, with VCTR ahead by 55.8 points (+18.3% versus +74.1%). One caveat on sizing: VCTR is 1.9 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 VCTR: side by side
| MDY (SPDR S&P MidCap 400 ETF) | VCTR (Victory Capital Holdings, Inc.) | |
|---|---|---|
| 1-year return | +18.3% | +74.1% |
| 5-year return | +47.5% | +309.1% |
| Volatility (ann.) | 16.5% | 30.9% |
| Beta vs S&P 500 | 0.91 | 1.15 |
| Max drawdown (3Y) | -24.0% | -28.1% |
| Market cap | – | $7.5B |
| P/E (trailing) | – | 21.9 |
| Dividend yield | 1.02% | 1.63% |
| Expense ratio | 0.23% | – |
| Assets under management | $26.5B | – |
| Sector / category | ETF · US Small & Mid Cap | US Listed |
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 | VCTR |
|---|---|---|
| 2022 | -13.3% | -23.9% |
| 2023 | +16.1% | +33.5% |
| 2024 | +13.6% | +95.9% |
| 2025 | +7.2% | -0.8% |
| 2026 | +16.4% | +94.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDY and VCTR good diversifiers for each other?
Only partially. A correlation of 0.58 means MDY and VCTR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between MDY and VCTR?
The MDY/VCTR correlation stands at 0.58 on a 3-year window (1 year: 0.21, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is VCTR a good diversifier for MDY?
Only partially. A correlation of 0.58 means MDY and VCTR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.58 mean?
On the −1 to +1 scale, 0.58 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-vctr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mdy-vs-vctr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MDY correlations · VCTR correlations
