AVY vs RSP: Correlation
Avery Dennison (AVY) and Invesco S&P 500 Equal Weight ETF (RSP) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVY and RSP?
On 3 years of weekly data the AVY/RSP correlation comes out at 0.64, strong. Recent behaviour matches the longer record: 0.62 over 1 year against 0.64 over 3. The 5-year figure is 0.68, and annualized covariance runs at 169.6 %².
In AVY's tracked universe of 38 assets, RSP sits right near the top at #3. On 12-month performance RSP holds a 13.9-point edge, +5.3% against +19.2%. Stability stands out here, with the rolling one-year correlation confined to 0.57 through 0.81. Note the risk asymmetry: AVY runs 1.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
AVY vs RSP: side by side
| AVY (Avery Dennison) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | +5.3% | +19.2% |
| 5-year return | -14.0% | +53.9% |
| Volatility (ann.) | 20.2% | 13.2% |
| Beta vs S&P 500 | 0.61 | 0.77 |
| Max drawdown (3Y) | -30.6% | -17.8% |
| Market cap | $13.5B | – |
| P/E (trailing) | 20.0 | – |
| Dividend yield | 2.10% | 1.49% |
| Expense ratio | – | 0.20% |
| Assets under management | – | $97.3B |
| Sector / category | Materials | 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 | AVY | RSP |
|---|---|---|
| 2022 | -15.1% | -11.6% |
| 2023 | +13.7% | +13.7% |
| 2024 | -5.9% | +12.8% |
| 2025 | -0.7% | +11.2% |
| 2026 | -0.8% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.22% of RSP is AVY itself, so the fund partly moves with the stock by construction.
Are AVY and RSP good diversifiers for each other?
Only partially. A correlation of 0.64 means AVY 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 AVY and RSP?
The AVY/RSP correlation stands at 0.64 on a 3-year window (1 year: 0.62, 5 years: 0.68), computed from weekly returns as of 2026-08-27.
Is RSP a good diversifier for AVY?
Only partially. A correlation of 0.64 means AVY 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 0.64 mean?
On the −1 to +1 scale, 0.64 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/avy-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/avy-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AVY correlations · RSP correlations
