FTV vs RSP: Correlation
Fortive (FTV) and Invesco S&P 500 Equal Weight ETF (RSP) show a strong relationship: their 3-year correlation of weekly returns is 0.65.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTV and RSP?
On 3 years of weekly data the FTV/RSP correlation comes out at 0.65, strong. The link has loosened recently: the 1-year correlation (0.48) runs below the 3-year figure (0.65). The 5-year figure is 0.71, and annualized covariance runs at 205.4 %².
By 3-year correlation, RSP places #4 of the 36 assets tracked against FTV. Their 12-month results are close: +23.9% for FTV against +19.2% for RSP. On a rolling one-year basis the correlation drifted between 0.49 and 0.83, a moderate band. Note the risk asymmetry: FTV 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.
FTV vs RSP: side by side
| FTV (Fortive) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | +23.9% | +19.2% |
| 5-year return | +9.6% | +53.9% |
| Volatility (ann.) | 23.8% | 13.2% |
| Beta vs S&P 500 | 0.92 | 0.77 |
| Max drawdown (3Y) | -28.0% | -17.8% |
| Market cap | $18.1B | – |
| P/E (trailing) | 31.9 | – |
| Dividend yield | 0.20% | 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 | FTV | RSP |
|---|---|---|
| 2022 | -15.4% | -11.6% |
| 2023 | +15.1% | +13.7% |
| 2024 | +2.3% | +12.8% |
| 2025 | -1.9% | +11.2% |
| 2026 | +8.8% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.19% of RSP is FTV itself, so the fund partly moves with the stock by construction.
Are FTV and RSP good diversifiers for each other?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FTV and RSP?
Using weekly returns as of 2026-08-27: 0.65 over 3 years, with 0.48 over the last year and 0.71 over 5 years.
Is RSP a good diversifier for FTV?
Somewhat, no more. With 0.65 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.65 mean?
On the −1 to +1 scale, 0.65 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/ftv-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ftv-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FTV correlations · RSP correlations
