FDX vs RSP: Correlation
How closely do FedEx (FDX) and Invesco S&P 500 Equal Weight ETF (RSP) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FDX and RSP?
Over the past 3 years, FDX and RSP moved with a correlation of 0.54, which is moderate. The relationship has been stable: the 1-year correlation (0.60) sits close to the 3-year figure. Over 5 years the correlation is 0.52, and the annualized covariance of weekly returns is 218.9 %².
By 3-year correlation, RSP places #10 of the 36 assets tracked against FDX. The last year tells two different stories: FDX led by 61.4 percentage points, +80.6% for FDX against +19.2% for RSP. The rolling one-year correlation moved between 0.29 and 0.73 over the past three years, a moderate range. Risk is not evenly split, since FDX carries 2.3 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.
FDX vs RSP: side by side
| FDX (FedEx) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | +80.6% | +19.2% |
| 5-year return | +71.0% | +53.9% |
| Volatility (ann.) | 30.7% | 13.2% |
| Beta vs S&P 500 | 0.89 | 0.77 |
| Max drawdown (3Y) | -35.9% | -17.8% |
| Market cap | $78.4B | – |
| P/E (trailing) | 18.1 | – |
| Dividend yield | 1.66% | 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 | FDX | RSP |
|---|---|---|
| 2022 | -31.6% | -11.6% |
| 2023 | +49.1% | +13.7% |
| 2024 | +13.5% | +12.8% |
| 2025 | +5.1% | +11.2% |
| 2026 | +43.5% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
FDX represents 0.2% of RSP's portfolio, so part of any move in RSP is FDX itself, and the correlation between them is partly mechanical.
Are FDX and RSP good diversifiers for each other?
To a limited degree. At 0.54 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 FDX and RSP?
As of 2026-08-27, the correlation of weekly returns between FDX and RSP is 0.54 over 3 years, 0.60 over 1 year and 0.52 over 5 years.
Is RSP a good diversifier for FDX?
To a limited degree. At 0.54 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 0.54 mean?
A reading of 0.54 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/fdx-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fdx-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FDX correlations · RSP correlations
