AXP vs RSP: Correlation
How closely do American Express (AXP) and Invesco S&P 500 Equal Weight ETF (RSP) trade together? Their weekly returns over three years give a correlation of 0.70, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXP and RSP?
Across a 3-year window, the weekly returns of AXP and RSP correlate at 0.70, strong. The link has loosened recently: the 1-year correlation (0.45) runs below the 3-year figure (0.70). Stretching to 5 years gives 0.72, with an annualized covariance of 244.8 %².
Within AXP's tracked universe of 35 assets, RSP comes in at #12 by 3-year correlation. On 12-month performance RSP holds a 14.5-point edge, +4.7% against +19.2%. The rolling one-year correlation moved between 0.45 and 0.86 over the past three years, a moderate range. Risk is not evenly split, since AXP carries 2.0 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.
AXP vs RSP: side by side
| AXP (American Express) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | +4.7% | +19.2% |
| 5-year return | +116.2% | +53.9% |
| Volatility (ann.) | 26.6% | 13.2% |
| Beta vs S&P 500 | 1.20 | 0.77 |
| Max drawdown (3Y) | -28.8% | -17.8% |
| Market cap | $225.7B | – |
| P/E (trailing) | 20.4 | – |
| Dividend yield | 1.05% | 1.49% |
| Expense ratio | – | 0.20% |
| Assets under management | – | $97.3B |
| Sector / category | Financials | 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 | AXP | RSP |
|---|---|---|
| 2022 | -8.5% | -11.6% |
| 2023 | +28.7% | +13.7% |
| 2024 | +60.3% | +12.8% |
| 2025 | +26.0% | +11.2% |
| 2026 | -8.9% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.2% of RSP is AXP itself, so the fund partly moves with the stock by construction.
Are AXP and RSP good diversifiers for each other?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AXP and RSP?
As of 2026-08-27, the correlation of weekly returns between AXP and RSP is 0.70 over 3 years, 0.45 over 1 year and 0.72 over 5 years.
Is RSP a good diversifier for AXP?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.70 mean?
On the −1 to +1 scale, 0.70 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/axp-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/axp-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AXP correlations · RSP correlations
