MDY vs VMC: Correlation
SPDR S&P MidCap 400 ETF (MDY) and Vulcan Materials Company (VMC) show a strong relationship: their 3-year correlation of weekly returns is 0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDY and VMC?
Over the past 3 years, MDY and VMC moved with a correlation of 0.60, which is strong. The relationship has been stable: the 1-year correlation (0.59) sits close to the 3-year figure. Over 5 years the correlation is 0.64, and the annualized covariance of weekly returns is 248.6 %².
Within MDY's tracked universe of 359 assets, VMC comes in at #183 by 3-year correlation. The last year tells two different stories: MDY led by 23.5 percentage points, +18.3% for MDY against -5.2% for VMC. The rolling one-year correlation stayed in a tight band between 0.48 and 0.69 over the past three years, which points to a structural rather than episodic relationship. One caveat on sizing: VMC is 1.5 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 VMC: side by side
| MDY (SPDR S&P MidCap 400 ETF) | VMC (Vulcan Materials Company) | |
|---|---|---|
| 1-year return | +18.3% | -5.2% |
| 5-year return | +47.5% | +53.2% |
| Volatility (ann.) | 16.5% | 25.2% |
| Beta vs S&P 500 | 0.91 | 0.82 |
| Max drawdown (3Y) | -24.0% | -24.4% |
| Market cap | – | $35.5B |
| P/E (trailing) | – | 32.3 |
| Dividend yield | 1.02% | 0.74% |
| Expense ratio | 0.23% | – |
| Assets under management | $26.5B | – |
| Sector / category | ETF · US Small & Mid Cap | Materials |
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 | VMC |
|---|---|---|
| 2022 | -13.3% | -14.9% |
| 2023 | +16.1% | +30.8% |
| 2024 | +13.6% | +14.1% |
| 2025 | +7.2% | +11.7% |
| 2026 | +16.4% | -3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDY and VMC good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MDY and VMC?
Using weekly returns as of 2026-08-27: 0.60 over 3 years, with 0.59 over the last year and 0.64 over 5 years.
Is VMC a good diversifier for MDY?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/mdy-vs-vmc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mdy-vs-vmc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MDY correlations · VMC correlations
