ALV vs RSP: Correlation
Measured on weekly returns over the past three years, Autoliv, Inc. (ALV) and Invesco S&P 500 Equal Weight ETF (RSP) carry a correlation of 0.62, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALV and RSP?
Over the past 3 years, ALV and RSP moved with a correlation of 0.62, which is strong. Recent behaviour matches the longer record: 0.63 over 1 year against 0.62 over 3. Over 5 years the correlation is 0.62, and the annualized covariance of weekly returns is 212.5 %².
RSP is one of the assets that tracks ALV most closely: it ranks #3 out of the 16 assets we track against ALV. Their recent paths diverged sharply: over the last 12 months RSP outperformed by 17.9 percentage points (+1.3% for ALV against +19.2% for RSP). One caveat on sizing: ALV is 2.0 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.
ALV vs RSP: side by side
| ALV (Autoliv, Inc.) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | +1.3% | +19.2% |
| 5-year return | +58.0% | +53.9% |
| Volatility (ann.) | 25.8% | 13.2% |
| Beta vs S&P 500 | 0.88 | 0.77 |
| Max drawdown (3Y) | -39.3% | -17.8% |
| Market cap | $9.0B | – |
| P/E (trailing) | 14.5 | – |
| Dividend yield | 2.80% | 1.49% |
| Expense ratio | – | 0.20% |
| Assets under management | – | $97.3B |
| Sector / category | US Listed | ETF · US Large Cap |
On the fund side, RSP sits in the Large Blend category at Invesco, with $97.3B under management, 505 holdings, a 0.20% expense ratio, a 1.49% trailing dividend yield.
Year-by-year returns
| Year | ALV | RSP |
|---|---|---|
| 2022 | -23.5% | -11.6% |
| 2023 | +48.0% | +13.7% |
| 2024 | -12.7% | +12.8% |
| 2025 | +29.2% | +11.2% |
| 2026 | +5.1% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALV and RSP good diversifiers for each other?
Only partially. A correlation of 0.62 means ALV and RSP 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 ALV and RSP?
The ALV/RSP correlation stands at 0.62 on a 3-year window (1 year: 0.63, 5 years: 0.62), computed from weekly returns as of 2026-08-27.
Is RSP a good diversifier for ALV?
Only partially. A correlation of 0.62 means ALV and RSP share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.62 mean?
A reading of 0.62 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/alv-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/alv-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALV correlations · RSP correlations
