GEHC vs RSP: Correlation
Measured on weekly returns over the past three years, GE HealthCare (GEHC) and Invesco S&P 500 Equal Weight ETF (RSP) carry a correlation of 0.66, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GEHC and RSP?
Across a 3-year window, the weekly returns of GEHC and RSP correlate at 0.66, strong. Little has changed lately, as the 1-year reading of 0.59 lands near the 3-year figure. Stretching to 5 years gives 0.62, with an annualized covariance of 280.8 %².
RSP is one of the assets that tracks GEHC most closely: it ranks #1 out of the 52 assets we track against GEHC. The last year tells two different stories: RSP led by 21.4 percentage points, -2.2% for GEHC against +19.2% for RSP. Across three years, the rolling one-year figure varied moderately, from 0.38 to 0.87. Note the risk asymmetry: GEHC runs 2.5 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.
GEHC vs RSP: side by side
| GEHC (GE HealthCare) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | -2.2% | +19.2% |
| 5-year return | n/a | +53.9% |
| Volatility (ann.) | 32.4% | 13.2% |
| Beta vs S&P 500 | 1.22 | 0.77 |
| Max drawdown (3Y) | -37.4% | -17.8% |
| Market cap | $32.7B | – |
| P/E (trailing) | 16.9 | – |
| Dividend yield | 0.19% | 1.49% |
| Expense ratio | – | 0.20% |
| Assets under management | – | $97.3B |
| Sector / category | Health Care | 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 | GEHC | RSP |
|---|---|---|
| 2022 | – | -11.6% |
| 2023 | +32.6% | +13.7% |
| 2024 | +1.3% | +12.8% |
| 2025 | +5.1% | +11.2% |
| 2026 | -11.5% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.21% of RSP is GEHC itself, so the fund partly moves with the stock by construction.
Are GEHC and RSP good diversifiers for each other?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GEHC and RSP?
Using weekly returns as of 2026-08-27: 0.66 over 3 years, with 0.59 over the last year and 0.62 over 5 years.
Is RSP a good diversifier for GEHC?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.66 mean?
A reading of 0.66 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/gehc-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gehc-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GEHC correlations · RSP correlations
