GM vs RSP: Correlation
General Motors (GM) and Invesco S&P 500 Equal Weight ETF (RSP) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GM and RSP?
On 3 years of weekly data the GM/RSP correlation comes out at 0.51, moderate. Little has changed lately, as the 1-year reading of 0.46 lands near the 3-year figure. The 5-year figure is 0.65, and annualized covariance runs at 216.1 %².
Among the 35 assets we track against GM, RSP ranks #12 by 3-year correlation. The last year tells two different stories: GM led by 28.8 percentage points, +48.0% for GM against +19.2% for RSP. The rolling one-year correlation moved between 0.45 and 0.80 over the past three years, a moderate range. Note the risk asymmetry: GM 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.
GM vs RSP: side by side
| GM (General Motors) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | +48.0% | +19.2% |
| 5-year return | +82.5% | +53.9% |
| Volatility (ann.) | 32.2% | 13.2% |
| Beta vs S&P 500 | 0.98 | 0.77 |
| Max drawdown (3Y) | -29.1% | -17.8% |
| Market cap | $77.9B | – |
| P/E (trailing) | 38.6 | – |
| Dividend yield | 0.76% | 1.49% |
| Expense ratio | – | 0.20% |
| Assets under management | – | $97.3B |
| Sector / category | Consumer Discretionary | 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 | GM | RSP |
|---|---|---|
| 2022 | -42.4% | -11.6% |
| 2023 | +7.9% | +13.7% |
| 2024 | +49.8% | +12.8% |
| 2025 | +54.2% | +11.2% |
| 2026 | +6.5% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.2% of RSP is GM itself, so the fund partly moves with the stock by construction.
Are GM and RSP good diversifiers for each other?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between GM and RSP?
The GM/RSP correlation stands at 0.51 on a 3-year window (1 year: 0.46, 5 years: 0.65), computed from weekly returns as of 2026-08-27.
Is RSP a good diversifier for GM?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.51 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/gm-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gm-vs-rsp/)
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Related comparisons
Hubs: GM correlations · RSP correlations
