CPAY vs RSP: Correlation
Corpay (CPAY) and Invesco S&P 500 Equal Weight ETF (RSP) show a strong relationship: their 3-year correlation of weekly returns is 0.69.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CPAY and RSP?
Over the past 3 years, CPAY and RSP moved with a correlation of 0.69, which is strong. The link has loosened recently: the 1-year correlation (0.58) runs below the 3-year figure (0.69). Over 5 years the correlation is 0.69, and the annualized covariance of weekly returns is 290.2 %².
In CPAY's tracked universe of 32 assets, RSP sits right near the top at #1. Their 12-month results are close: +24.1% for CPAY against +19.2% for RSP. The rolling one-year correlation moved between 0.55 and 0.86 over the past three years, a moderate range. Risk is not evenly split, since CPAY carries 2.4 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.
CPAY vs RSP: side by side
| CPAY (Corpay) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | +24.1% | +19.2% |
| 5-year return | +55.2% | +53.9% |
| Volatility (ann.) | 31.7% | 13.2% |
| Beta vs S&P 500 | 1.22 | 0.77 |
| Max drawdown (3Y) | -34.5% | -17.8% |
| Market cap | $26.5B | – |
| P/E (trailing) | 24.7 | – |
| Dividend yield | 0.00% | 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 | CPAY | RSP |
|---|---|---|
| 2022 | -17.9% | -11.6% |
| 2023 | +53.9% | +13.7% |
| 2024 | +19.7% | +12.8% |
| 2025 | -11.1% | +11.2% |
| 2026 | +34.1% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.22% of RSP is CPAY itself, so the fund partly moves with the stock by construction.
Are CPAY and RSP good diversifiers for each other?
To a limited degree. At 0.69 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CPAY and RSP?
As of 2026-08-27, the correlation of weekly returns between CPAY and RSP is 0.69 over 3 years, 0.58 over 1 year and 0.69 over 5 years.
Is RSP a good diversifier for CPAY?
To a limited degree. At 0.69 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.69 mean?
On the −1 to +1 scale, 0.69 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/cpay-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cpay-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CPAY correlations · RSP correlations
