COOK vs RSP: Correlation
Traeger, Inc. (COOK) and Invesco S&P 500 Equal Weight ETF (RSP) show a moderate relationship: their 3-year correlation of weekly returns is 0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COOK and RSP?
Across a 3-year window, the weekly returns of COOK and RSP correlate at 0.49, moderate. Little has changed lately, as the 1-year reading of 0.53 lands near the 3-year figure. Stretching to 5 years gives 0.46, with an annualized covariance of 490.9 %².
Within COOK's tracked universe of 11 assets, RSP comes in at #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months RSP outperformed by 30.8 percentage points (-11.6% for COOK against +19.2% for RSP). One caveat on sizing: COOK is 5.7 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.
COOK vs RSP: side by side
| COOK (Traeger, Inc.) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | -11.6% | +19.2% |
| 5-year return | -95.7% | +53.9% |
| Volatility (ann.) | 75.7% | 13.2% |
| Beta vs S&P 500 | 1.90 | 0.77 |
| Max drawdown (3Y) | -89.1% | -17.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| 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 | COOK | RSP |
|---|---|---|
| 2022 | -76.8% | -11.6% |
| 2023 | -3.2% | +13.7% |
| 2024 | -12.5% | +12.8% |
| 2025 | -54.8% | +11.2% |
| 2026 | +3.2% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COOK and RSP good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between COOK and RSP?
The COOK/RSP correlation stands at 0.49 on a 3-year window (1 year: 0.53, 5 years: 0.46), computed from weekly returns as of 2026-08-27.
Is RSP a good diversifier for COOK?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.49 mean?
A reading of 0.49 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cook-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cook-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: COOK correlations · RSP correlations
