AXTA vs RSP: Correlation
Axalta Coating Systems Ltd. (AXTA) and Invesco S&P 500 Equal Weight ETF (RSP) show a strong relationship: their 3-year correlation of weekly returns is 0.63.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXTA and RSP?
Across a 3-year window, the weekly returns of AXTA and RSP correlate at 0.63, strong. Little has changed lately, as the 1-year reading of 0.54 lands near the 3-year figure. Stretching to 5 years gives 0.69, with an annualized covariance of 248.6 %².
In AXTA's tracked universe of 17 assets, RSP sits right near the top at #3. Neither side won the trailing year by much: +16.6% against +19.2%. One caveat on sizing: AXTA is 2.3 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.
AXTA vs RSP: side by side
| AXTA (Axalta Coating Systems Ltd.) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | +16.6% | +19.2% |
| 5-year return | +18.4% | +53.9% |
| Volatility (ann.) | 29.8% | 13.2% |
| Beta vs S&P 500 | 1.01 | 0.77 |
| Max drawdown (3Y) | -38.4% | -17.8% |
| Market cap | $7.9B | – |
| P/E (trailing) | 22.5 | – |
| Dividend yield | 0.00% | 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 | AXTA | RSP |
|---|---|---|
| 2022 | -23.1% | -11.6% |
| 2023 | +33.4% | +13.7% |
| 2024 | +0.7% | +12.8% |
| 2025 | -5.6% | +11.2% |
| 2026 | +13.6% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXTA and RSP good diversifiers for each other?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AXTA and RSP?
Using weekly returns as of 2026-08-27: 0.63 over 3 years, with 0.54 over the last year and 0.69 over 5 years.
Is RSP a good diversifier for AXTA?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.63 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/axta-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/axta-vs-rsp/)
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Related comparisons
Hubs: AXTA correlations · RSP correlations
