GIL vs RSP: Correlation
How closely do Gildan Activewear, Inc. Class A Sub. Vot. (GIL) and Invesco S&P 500 Equal Weight ETF (RSP) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GIL and RSP?
On 3 years of weekly data the GIL/RSP correlation comes out at 0.53, moderate. Recent behaviour matches the longer record: 0.48 over 1 year against 0.53 over 3. The 5-year figure is 0.56, and annualized covariance runs at 224.3 %².
Among the 11 assets we track against GIL, RSP ranks #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months RSP outperformed by 21.8 percentage points (-2.6% for GIL against +19.2% for RSP). Note the risk asymmetry: GIL runs 2.4 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.
GIL vs RSP: side by side
| GIL (Gildan Activewear, Inc. Class A Sub. Vot.) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | -2.6% | +19.2% |
| 5-year return | +52.0% | +53.9% |
| Volatility (ann.) | 31.8% | 13.2% |
| Beta vs S&P 500 | 1.02 | 0.77 |
| Max drawdown (3Y) | -31.3% | -17.8% |
| Market cap | $9.9B | – |
| P/E (trailing) | 41.6 | – |
| Dividend yield | 1.77% | 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 | GIL | RSP |
|---|---|---|
| 2022 | -33.9% | -11.6% |
| 2023 | +23.6% | +13.7% |
| 2024 | +45.3% | +12.8% |
| 2025 | +34.5% | +11.2% |
| 2026 | -13.6% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GIL and RSP good diversifiers for each other?
To a limited degree. At 0.53 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 GIL and RSP?
The GIL/RSP correlation stands at 0.53 on a 3-year window (1 year: 0.48, 5 years: 0.56), computed from weekly returns as of 2026-08-27.
Is RSP a good diversifier for GIL?
To a limited degree. At 0.53 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 0.53 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gil-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gil-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GIL correlations · RSP correlations
