ASH vs RSP: Correlation
How closely do Ashland Inc. (ASH) and Invesco S&P 500 Equal Weight ETF (RSP) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASH and RSP?
Across a 3-year window, the weekly returns of ASH and RSP correlate at 0.54, moderate. Recent behaviour matches the longer record: 0.52 over 1 year against 0.54 over 3. Stretching to 5 years gives 0.58, with an annualized covariance of 226.7 %².
Within ASH's tracked universe of 12 assets, RSP comes in at #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ASH outperformed by 15.5 percentage points (+34.7% for ASH against +19.2% for RSP). Risk is not evenly split, since ASH 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.
ASH vs RSP: side by side
| ASH (Ashland Inc.) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | +34.7% | +19.2% |
| 5-year return | -6.5% | +53.9% |
| Volatility (ann.) | 31.6% | 13.2% |
| Beta vs S&P 500 | 0.98 | 0.77 |
| Max drawdown (3Y) | -53.3% | -17.8% |
| Market cap | $3.4B | – |
| P/E (trailing) | 47.7 | – |
| Dividend yield | 2.24% | 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 | ASH | RSP |
|---|---|---|
| 2022 | +1.1% | -11.6% |
| 2023 | -20.2% | +13.7% |
| 2024 | -13.7% | +12.8% |
| 2025 | -15.4% | +11.2% |
| 2026 | +27.8% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASH and RSP good diversifiers for each other?
To a limited degree. At 0.54 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 ASH and RSP?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.52 over the last year and 0.58 over 5 years.
Is RSP a good diversifier for ASH?
To a limited degree. At 0.54 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 0.54 mean?
A reading of 0.54 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/ash-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ash-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ASH correlations · RSP correlations
