GXO vs RSP: Correlation
GXO Logistics, Inc. (GXO) and Invesco S&P 500 Equal Weight ETF (RSP) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GXO and RSP?
Across a 3-year window, the weekly returns of GXO and RSP correlate at 0.58, moderate. The relationship has been stable: the 1-year correlation (0.53) sits close to the 3-year figure. Stretching to 5 years gives 0.65, with an annualized covariance of 288.4 %².
In GXO's tracked universe of 16 assets, RSP sits right near the top at #3. Correlation aside, the last 12 months split them widely, with RSP ahead by 29.3 points (-10.1% versus +19.2%). One caveat on sizing: GXO is 2.8 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.
GXO vs RSP: side by side
| GXO (GXO Logistics, Inc.) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | -10.1% | +19.2% |
| 5-year return | -43.5% | +53.9% |
| Volatility (ann.) | 37.5% | 13.2% |
| Beta vs S&P 500 | 1.06 | 0.77 |
| Max drawdown (3Y) | -51.6% | -17.8% |
| Market cap | $5.5B | – |
| P/E (trailing) | 42.5 | – |
| Dividend yield | 0.00% | 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 | GXO | RSP |
|---|---|---|
| 2022 | -53.0% | -11.6% |
| 2023 | +43.3% | +13.7% |
| 2024 | -28.9% | +12.8% |
| 2025 | +21.0% | +11.2% |
| 2026 | -8.9% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GXO and RSP good diversifiers for each other?
To a limited degree. At 0.58 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 GXO and RSP?
Using weekly returns as of 2026-08-27: 0.58 over 3 years, with 0.53 over the last year and 0.65 over 5 years.
Is RSP a good diversifier for GXO?
To a limited degree. At 0.58 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 0.58 mean?
On the −1 to +1 scale, 0.58 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/gxo-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/gxo-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GXO correlations · RSP correlations
