MDY vs YETI: Correlation
Measured on weekly returns over the past three years, SPDR S&P MidCap 400 ETF (MDY) and YETI Holdings, Inc. (YETI) carry a correlation of 0.56, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDY and YETI?
On 3 years of weekly data the MDY/YETI correlation comes out at 0.56, moderate. Recent behaviour matches the longer record: 0.64 over 1 year against 0.56 over 3. The 5-year figure is 0.60, and annualized covariance runs at 371.3 %².
Among the 359 assets we track against MDY, YETI ranks #242 by 3-year correlation. Neither side won the trailing year by much: +18.3% against +15.6%. Risk is not evenly split, since YETI carries 2.4 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 YETI: side by side
| MDY (SPDR S&P MidCap 400 ETF) | YETI (YETI Holdings, Inc.) | |
|---|---|---|
| 1-year return | +18.3% | +15.6% |
| 5-year return | +47.5% | -58.8% |
| Volatility (ann.) | 16.5% | 39.9% |
| Beta vs S&P 500 | 0.91 | 1.17 |
| Max drawdown (3Y) | -24.0% | -49.7% |
| Market cap | – | $3.1B |
| P/E (trailing) | – | 18.4 |
| Dividend yield | 1.02% | 0.00% |
| 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 | YETI |
|---|---|---|
| 2022 | -13.3% | -50.1% |
| 2023 | +16.1% | +25.3% |
| 2024 | +13.6% | -25.6% |
| 2025 | +7.2% | +14.7% |
| 2026 | +16.4% | -5.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
YETI represents 0.09% of MDY's portfolio, so part of any move in MDY is YETI itself, and the correlation between them is partly mechanical.
Are MDY and YETI good diversifiers for each other?
To a limited degree. At 0.56 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 YETI?
The MDY/YETI correlation stands at 0.56 on a 3-year window (1 year: 0.64, 5 years: 0.60), computed from weekly returns as of 2026-08-27.
Is YETI a good diversifier for MDY?
To a limited degree. At 0.56 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 0.56 mean?
On the −1 to +1 scale, 0.56 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-yeti.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mdy-vs-yeti/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MDY correlations · YETI correlations
