MDY vs XPER: Correlation
Measured on weekly returns over the past three years, SPDR S&P MidCap 400 ETF (MDY) and Xperi Inc. (XPER) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDY and XPER?
Across a 3-year window, the weekly returns of MDY and XPER correlate at 0.50, moderate. The past 12 months show a weaker link (0.36) than the 3-year average (0.50). Stretching to 5 years gives 0.34, with an annualized covariance of 361.4 %².
By 3-year correlation, XPER places #298 of the 359 assets tracked against MDY. Their recent paths diverged sharply: over the last 12 months MDY outperformed by 18.6 percentage points (+18.3% for MDY against -0.3% for XPER). One caveat on sizing: XPER is 2.6 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 XPER: side by side
| MDY (SPDR S&P MidCap 400 ETF) | XPER (Xperi Inc.) | |
|---|---|---|
| 1-year return | +18.3% | -0.3% |
| 5-year return | +47.5% | n/a |
| Volatility (ann.) | 16.5% | 43.6% |
| Beta vs S&P 500 | 0.91 | 1.29 |
| Max drawdown (3Y) | -24.0% | -57.6% |
| Market cap | – | $0.3B |
| 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 |
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 | XPER |
|---|---|---|
| 2022 | -13.3% | – |
| 2023 | +16.1% | +28.0% |
| 2024 | +13.6% | -6.8% |
| 2025 | +7.2% | -42.9% |
| 2026 | +16.4% | +3.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDY and XPER good diversifiers for each other?
To a limited degree. At 0.50 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 XPER?
As of 2026-08-27, the correlation of weekly returns between MDY and XPER is 0.50 over 3 years, 0.36 over 1 year and 0.34 over 5 years.
Is XPER a good diversifier for MDY?
To a limited degree. At 0.50 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 0.50 mean?
On the −1 to +1 scale, 0.50 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-xper.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mdy-vs-xper/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MDY correlations · XPER correlations
