CTAS vs RSP: Correlation
How closely do Cintas (CTAS) and Invesco S&P 500 Equal Weight ETF (RSP) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTAS and RSP?
Over the past 3 years, CTAS and RSP moved with a correlation of 0.52, which is moderate. The link has loosened recently: the 1-year correlation (0.40) runs below the 3-year figure (0.52). Over 5 years the correlation is 0.66, and the annualized covariance of weekly returns is 159.3 %².
Among the 38 assets we track against CTAS, RSP ranks #9 by 3-year correlation. The last year tells two different stories: RSP led by 22.5 percentage points, -3.3% for CTAS against +19.2% for RSP. The rolling one-year correlation moved between 0.39 and 0.80 over the past three years, a moderate range. Note the risk asymmetry: CTAS runs 1.8 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.
CTAS vs RSP: side by side
| CTAS (Cintas) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | -3.3% | +19.2% |
| 5-year return | +117.4% | +53.9% |
| Volatility (ann.) | 23.2% | 13.2% |
| Beta vs S&P 500 | 0.71 | 0.77 |
| Max drawdown (3Y) | -27.7% | -17.8% |
| Market cap | $81.7B | – |
| P/E (trailing) | 41.8 | – |
| Dividend yield | 0.87% | 1.49% |
| Expense ratio | – | 0.20% |
| Assets under management | – | $97.3B |
| Sector / category | Industrials | 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 | CTAS | RSP |
|---|---|---|
| 2022 | +3.0% | -11.6% |
| 2023 | +34.8% | +13.7% |
| 2024 | +22.2% | +12.8% |
| 2025 | +3.8% | +11.2% |
| 2026 | +9.4% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that RSP holds CTAS at a 0.21% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are CTAS and RSP good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CTAS and RSP?
The CTAS/RSP correlation stands at 0.52 on a 3-year window (1 year: 0.40, 5 years: 0.66), computed from weekly returns as of 2026-08-27.
Is RSP a good diversifier for CTAS?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 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/ctas-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ctas-vs-rsp/)
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Related comparisons
Hubs: CTAS correlations · RSP correlations
