GAB vs RSP: Correlation
Gabelli Equity Trust, Inc. (The) (GAB) and Invesco S&P 500 Equal Weight ETF (RSP) show a strong relationship: their 3-year correlation of weekly returns is 0.74.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GAB and RSP?
Over the past 3 years, GAB and RSP moved with a correlation of 0.74, which is strong. Little has changed lately, as the 1-year reading of 0.64 lands near the 3-year figure. Over 5 years the correlation is 0.72, and the annualized covariance of weekly returns is 158.2 %².
In GAB's tracked universe of 16 assets, RSP sits right near the top at #3. On 12-month performance RSP holds a 13.4-point edge, +5.8% against +19.2%.
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.
GAB vs RSP: side by side
| GAB (Gabelli Equity Trust, Inc. (The)) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | +5.8% | +19.2% |
| 5-year return | +40.3% | +53.9% |
| Volatility (ann.) | 16.2% | 13.2% |
| Beta vs S&P 500 | 0.72 | 0.77 |
| Max drawdown (3Y) | -14.8% | -17.8% |
| Market cap | – | – |
| P/E (trailing) | 5.8 | – |
| Dividend yield | 10.54% | 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 | GAB | RSP |
|---|---|---|
| 2022 | -16.3% | -11.6% |
| 2023 | +3.4% | +13.7% |
| 2024 | +18.0% | +12.8% |
| 2025 | +27.0% | +11.2% |
| 2026 | -1.4% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GAB and RSP good diversifiers for each other?
Somewhat, no more. With 0.74 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GAB and RSP?
The GAB/RSP correlation stands at 0.74 on a 3-year window (1 year: 0.64, 5 years: 0.72), computed from weekly returns as of 2026-08-27.
Is RSP a good diversifier for GAB?
Somewhat, no more. With 0.74 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.74 mean?
On the −1 to +1 scale, 0.74 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/gab-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gab-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GAB correlations · RSP correlations
