CHDN vs RSP: Correlation
Churchill Downs, Incorporated (CHDN) and Invesco S&P 500 Equal Weight ETF (RSP) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHDN and RSP?
On 3 years of weekly data the CHDN/RSP correlation comes out at 0.44, moderate. The link has loosened recently: the 1-year correlation (0.30) runs below the 3-year figure (0.44). The 5-year figure is 0.52, and annualized covariance runs at 160.5 %².
Few assets follow CHDN as closely as RSP, which ranks #3 of 11 tracked partners. Correlation aside, the last 12 months split them widely, with RSP ahead by 37.4 points (-18.2% versus +19.2%). Risk is not evenly split, since CHDN carries 2.1 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.
CHDN vs RSP: side by side
| CHDN (Churchill Downs, Incorporated) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | -18.2% | +19.2% |
| 5-year return | -16.1% | +53.9% |
| Volatility (ann.) | 27.4% | 13.2% |
| Beta vs S&P 500 | 0.72 | 0.77 |
| Max drawdown (3Y) | -43.9% | -17.8% |
| Market cap | $6.0B | – |
| P/E (trailing) | 14.9 | – |
| Dividend yield | 0.50% | 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 | CHDN | RSP |
|---|---|---|
| 2022 | -12.0% | -11.6% |
| 2023 | +28.1% | +13.7% |
| 2024 | -0.7% | +12.8% |
| 2025 | -14.5% | +11.2% |
| 2026 | -24.0% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHDN and RSP good diversifiers for each other?
Reasonably. At 0.44, CHDN and RSP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CHDN and RSP?
The CHDN/RSP correlation stands at 0.44 on a 3-year window (1 year: 0.30, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is RSP a good diversifier for CHDN?
Reasonably. At 0.44, CHDN and RSP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 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/chdn-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/chdn-vs-rsp/)
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Related comparisons
Hubs: CHDN correlations · RSP correlations
