CDW vs RSP: Correlation
Measured on weekly returns over the past three years, CDW Corporation (CDW) and Invesco S&P 500 Equal Weight ETF (RSP) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CDW and RSP?
Over the past 3 years, CDW and RSP moved with a correlation of 0.47, which is moderate. The past 12 months show a weaker link (0.30) than the 3-year average (0.47). Over 5 years the correlation is 0.52, and the annualized covariance of weekly returns is 210.2 %².
Among the 40 assets we track against CDW, RSP ranks #11 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months RSP outperformed by 27.2 percentage points (-8.0% for CDW against +19.2% for RSP). The rolling one-year correlation moved between 0.31 and 0.70 over the past three years, a moderate range. One caveat on sizing: CDW is 2.6 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.
CDW vs RSP: side by side
| CDW (CDW Corporation) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | -8.0% | +19.2% |
| 5-year return | -20.5% | +53.9% |
| Volatility (ann.) | 34.2% | 13.2% |
| Beta vs S&P 500 | 1.01 | 0.77 |
| Max drawdown (3Y) | -60.4% | -17.8% |
| Market cap | $18.6B | – |
| P/E (trailing) | 17.0 | – |
| Dividend yield | 1.78% | 1.49% |
| Expense ratio | – | 0.20% |
| Assets under management | – | $97.3B |
| Sector / category | Information Technology | 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 | CDW | RSP |
|---|---|---|
| 2022 | -11.7% | -11.6% |
| 2023 | +28.8% | +13.7% |
| 2024 | -22.6% | +12.8% |
| 2025 | -20.6% | +11.2% |
| 2026 | +11.1% | +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 CDW itself, so the fund partly moves with the stock by construction.
Are CDW and RSP good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CDW and RSP?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.30 over the last year and 0.52 over 5 years.
Is RSP a good diversifier for CDW?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 mean?
On the −1 to +1 scale, 0.47 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/cdw-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cdw-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CDW correlations · RSP correlations
