GRMN vs RSP: Correlation
Garmin (GRMN) and Invesco S&P 500 Equal Weight ETF (RSP) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRMN and RSP?
Across a 3-year window, the weekly returns of GRMN and RSP correlate at 0.52, moderate. Little has changed lately, as the 1-year reading of 0.49 lands near the 3-year figure. Stretching to 5 years gives 0.55, with an annualized covariance of 239.1 %².
By 3-year correlation, RSP places #4 of the 36 assets tracked against GRMN. Over the last 12 months GRMN came out ahead by 5.9 percentage points (+25.1% against +19.2%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.22 to 0.72. One caveat on sizing: GRMN is 2.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
GRMN vs RSP: side by side
| GRMN (Garmin) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | +25.1% | +19.2% |
| 5-year return | +80.9% | +53.9% |
| Volatility (ann.) | 34.7% | 13.2% |
| Beta vs S&P 500 | 1.06 | 0.77 |
| Max drawdown (3Y) | -28.0% | -17.8% |
| Market cap | $55.9B | – |
| P/E (trailing) | 29.9 | – |
| Dividend yield | 1.45% | 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 | GRMN | RSP |
|---|---|---|
| 2022 | -30.2% | -11.6% |
| 2023 | +43.1% | +13.7% |
| 2024 | +63.3% | +12.8% |
| 2025 | -0.1% | +11.2% |
| 2026 | +44.1% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
GRMN represents 0.23% of RSP's portfolio, so part of any move in RSP is GRMN itself, and the correlation between them is partly mechanical.
Are GRMN and RSP good diversifiers for each other?
To a limited degree. At 0.52 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 GRMN and RSP?
As of 2026-08-27, the correlation of weekly returns between GRMN and RSP is 0.52 over 3 years, 0.49 over 1 year and 0.55 over 5 years.
Is RSP a good diversifier for GRMN?
To a limited degree. At 0.52 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 0.52 mean?
A reading of 0.52 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/grmn-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/grmn-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GRMN correlations · RSP correlations
