AVNT vs RSP: Correlation
Avient Corporation (AVNT) and Invesco S&P 500 Equal Weight ETF (RSP) show a strong relationship: their 3-year correlation of weekly returns is 0.71.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVNT and RSP?
On 3 years of weekly data the AVNT/RSP correlation comes out at 0.71, strong. The past 12 months show a weaker link (0.57) than the 3-year average (0.71). The 5-year figure is 0.71, and annualized covariance runs at 347.5 %².
Among the 35 assets we track against AVNT, RSP ranks #5 by 3-year correlation. Neither side won the trailing year by much: +21.7% against +19.2%. One caveat on sizing: AVNT is 2.8 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.
AVNT vs RSP: side by side
| AVNT (Avient Corporation) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | +21.7% | +19.2% |
| 5-year return | -3.6% | +53.9% |
| Volatility (ann.) | 36.9% | 13.2% |
| Beta vs S&P 500 | 1.33 | 0.77 |
| Max drawdown (3Y) | -46.9% | -17.8% |
| Market cap | $4.1B | – |
| P/E (trailing) | 23.9 | – |
| Dividend yield | 2.45% | 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 | AVNT | RSP |
|---|---|---|
| 2022 | -38.2% | -11.6% |
| 2023 | +26.4% | +13.7% |
| 2024 | +0.6% | +12.8% |
| 2025 | -21.2% | +11.2% |
| 2026 | +43.9% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVNT and RSP good diversifiers for each other?
Only partially. A correlation of 0.71 means AVNT 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 AVNT and RSP?
Using weekly returns as of 2026-08-27: 0.71 over 3 years, with 0.57 over the last year and 0.71 over 5 years.
Is RSP a good diversifier for AVNT?
Only partially. A correlation of 0.71 means AVNT 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 0.71 mean?
A reading of 0.71 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/avnt-vs-rsp.json
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[](https://www.pairbook.io/pair/avnt-vs-rsp/)
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Related comparisons
Hubs: AVNT correlations · RSP correlations
