HON vs RSP: Correlation
Honeywell Technologies (HON) and Invesco S&P 500 Equal Weight ETF (RSP) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HON and RSP?
On 3 years of weekly data the HON/RSP correlation comes out at 0.54, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.41 versus 0.54 over 3 years. The 5-year figure is 0.61, and annualized covariance runs at 166.5 %².
By 3-year correlation, RSP places #11 of the 32 assets tracked against HON. Their recent paths diverged sharply: over the last 12 months RSP outperformed by 16.5 percentage points (+2.7% for HON against +19.2% for RSP). Across three years, the rolling one-year figure varied moderately, from 0.44 to 0.75. One caveat on sizing: HON is 1.8 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.
HON vs RSP: side by side
| HON (Honeywell Technologies) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | +2.7% | +19.2% |
| 5-year return | +6.6% | +53.9% |
| Volatility (ann.) | 23.2% | 13.2% |
| Beta vs S&P 500 | 0.74 | 0.77 |
| Max drawdown (3Y) | -22.1% | -17.8% |
| Market cap | $69.9B | – |
| P/E (trailing) | 8.5 | – |
| Dividend yield | 4.26% | 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 | HON | RSP |
|---|---|---|
| 2022 | +4.9% | -11.6% |
| 2023 | +0.0% | +13.7% |
| 2024 | +10.0% | +12.8% |
| 2025 | -6.4% | +11.2% |
| 2026 | +9.2% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
HON represents 0.2% of RSP's portfolio, so part of any move in RSP is HON itself, and the correlation between them is partly mechanical.
Are HON and RSP good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between HON and RSP?
The HON/RSP correlation stands at 0.54 on a 3-year window (1 year: 0.41, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is RSP a good diversifier for HON?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 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/hon-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hon-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HON correlations · RSP correlations
