CSTM vs RSP: Correlation
Measured on weekly returns over the past three years, Constellium SE (CSTM) and Invesco S&P 500 Equal Weight ETF (RSP) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSTM and RSP?
On 3 years of weekly data the CSTM/RSP correlation comes out at 0.55, moderate. The relationship has been stable: the 1-year correlation (0.54) sits close to the 3-year figure. The 5-year figure is 0.55, and annualized covariance runs at 298.8 %².
Few assets follow CSTM as closely as RSP, which ranks #3 of 11 tracked partners. The last year tells two different stories: CSTM led by 68.5 percentage points, +87.7% for CSTM against +19.2% for RSP. Note the risk asymmetry: CSTM runs 3.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CSTM vs RSP: side by side
| CSTM (Constellium SE) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | +87.7% | +19.2% |
| 5-year return | +38.2% | +53.9% |
| Volatility (ann.) | 41.2% | 13.2% |
| Beta vs S&P 500 | 1.25 | 0.77 |
| Max drawdown (3Y) | -66.3% | -17.8% |
| Market cap | $3.7B | – |
| P/E (trailing) | 7.0 | – |
| 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 | CSTM | RSP |
|---|---|---|
| 2022 | -33.9% | -11.6% |
| 2023 | +68.7% | +13.7% |
| 2024 | -48.5% | +12.8% |
| 2025 | +83.5% | +11.2% |
| 2026 | +45.4% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSTM and RSP good diversifiers for each other?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CSTM and RSP?
Using weekly returns as of 2026-08-27: 0.55 over 3 years, with 0.54 over the last year and 0.55 over 5 years.
Is RSP a good diversifier for CSTM?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.55 mean?
On the −1 to +1 scale, 0.55 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/cstm-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cstm-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CSTM correlations · RSP correlations
