HII vs RSP: Correlation
Huntington Ingalls Industries (HII) and Invesco S&P 500 Equal Weight ETF (RSP) show a moderate relationship: their 3-year correlation of weekly returns is 0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HII and RSP?
Across a 3-year window, the weekly returns of HII and RSP correlate at 0.41, moderate. The past 12 months show a weaker link (0.26) than the 3-year average (0.41). Stretching to 5 years gives 0.40, with an annualized covariance of 189.5 %².
Among the 28 assets we track against HII, RSP ranks #12 by 3-year correlation. Over the last 12 months RSP came out ahead by 9.8 percentage points (+9.4% against +19.2%). Across three years, the rolling one-year figure varied moderately, from 0.24 to 0.71. One caveat on sizing: HII is 2.7 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.
HII vs RSP: side by side
| HII (Huntington Ingalls Industries) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | +9.4% | +19.2% |
| 5-year return | +59.2% | +53.9% |
| Volatility (ann.) | 35.3% | 13.2% |
| Beta vs S&P 500 | 0.84 | 0.77 |
| Max drawdown (3Y) | -45.2% | -17.8% |
| Market cap | $11.7B | – |
| P/E (trailing) | 17.7 | – |
| Dividend yield | 1.85% | 1.49% |
| Expense ratio | – | 0.20% |
| Assets under management | – | $97.3B |
| Sector / category | Industrials | 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 | HII | RSP |
|---|---|---|
| 2022 | +26.3% | -11.6% |
| 2023 | +15.2% | +13.7% |
| 2024 | -25.7% | +12.8% |
| 2025 | +84.2% | +11.2% |
| 2026 | -11.9% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.19% of RSP is HII itself, so the fund partly moves with the stock by construction.
Are HII and RSP good diversifiers for each other?
Reasonably. At 0.41, HII and RSP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between HII and RSP?
As of 2026-08-27, the correlation of weekly returns between HII and RSP is 0.41 over 3 years, 0.26 over 1 year and 0.40 over 5 years.
Is RSP a good diversifier for HII?
Reasonably. At 0.41, HII and RSP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 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/hii-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hii-vs-rsp/)
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Related comparisons
Hubs: HII correlations · RSP correlations
