EXEL vs RSP: Correlation
Exelixis, Inc. (EXEL) and Invesco S&P 500 Equal Weight ETF (RSP) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXEL and RSP?
Across a 3-year window, the weekly returns of EXEL and RSP correlate at 0.40, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.28 versus 0.40 over 3 years. Stretching to 5 years gives 0.34, with an annualized covariance of 183.1 %².
In EXEL's tracked universe of 11 assets, RSP sits right near the top at #2. Correlation aside, the last 12 months split them widely, with EXEL ahead by 24.3 points (+43.5% versus +19.2%). Note the risk asymmetry: EXEL runs 2.6 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.
EXEL vs RSP: side by side
| EXEL (Exelixis, Inc.) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | +43.5% | +19.2% |
| 5-year return | +186.9% | +53.9% |
| Volatility (ann.) | 34.8% | 13.2% |
| Beta vs S&P 500 | 0.78 | 0.77 |
| Max drawdown (3Y) | -25.3% | -17.8% |
| Market cap | $13.7B | – |
| P/E (trailing) | 17.7 | – |
| 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 | EXEL | RSP |
|---|---|---|
| 2022 | -12.3% | -11.6% |
| 2023 | +49.6% | +13.7% |
| 2024 | +38.8% | +12.8% |
| 2025 | +31.6% | +11.2% |
| 2026 | +26.1% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXEL and RSP good diversifiers for each other?
Reasonably. At 0.40, EXEL and RSP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between EXEL and RSP?
The EXEL/RSP correlation stands at 0.40 on a 3-year window (1 year: 0.28, 5 years: 0.34), computed from weekly returns as of 2026-08-27.
Is RSP a good diversifier for EXEL?
Reasonably. At 0.40, EXEL and RSP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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/exel-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/exel-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EXEL correlations · RSP correlations
