BNY vs RSP: Correlation
Measured on weekly returns over the past three years, BNY Mellon (BNY) and Invesco S&P 500 Equal Weight ETF (RSP) carry a correlation of 0.70, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BNY and RSP?
Across a 3-year window, the weekly returns of BNY and RSP correlate at 0.70, strong. Lately the two have drifted apart, with the 1-year correlation at 0.52 versus 0.70 over 3 years. Stretching to 5 years gives 0.70, with an annualized covariance of 187.6 %².
Among the 31 assets we track against BNY, RSP ranks #10 by 3-year correlation. The last year tells two different stories: BNY led by 38.0 percentage points, +57.2% for BNY against +19.2% for RSP. The rolling one-year correlation moved between 0.47 and 0.84 over the past three years, a moderate range. One caveat on sizing: BNY is 1.5 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.
BNY vs RSP: side by side
| BNY (BNY Mellon) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | +57.2% | +19.2% |
| 5-year return | +236.7% | +53.9% |
| Volatility (ann.) | 20.2% | 13.2% |
| Beta vs S&P 500 | 0.89 | 0.77 |
| Max drawdown (3Y) | -17.6% | -17.8% |
| Market cap | $110.1B | – |
| P/E (trailing) | 19.0 | – |
| Dividend yield | 1.30% | 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 | BNY | RSP |
|---|---|---|
| 2022 | -19.1% | -11.6% |
| 2023 | +18.5% | +13.7% |
| 2024 | +51.9% | +12.8% |
| 2025 | +54.4% | +11.2% |
| 2026 | +41.5% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
BNY represents 0.22% of RSP's portfolio, so part of any move in RSP is BNY itself, and the correlation between them is partly mechanical.
Are BNY and RSP good diversifiers for each other?
Only partially. A correlation of 0.70 means BNY 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 BNY and RSP?
The BNY/RSP correlation stands at 0.70 on a 3-year window (1 year: 0.52, 5 years: 0.70), computed from weekly returns as of 2026-08-27.
Is RSP a good diversifier for BNY?
Only partially. A correlation of 0.70 means BNY 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 0.70 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/bny-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/bny-vs-rsp/)
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Related comparisons
Hubs: BNY correlations · RSP correlations
