INVH vs RSG: Correlation
Measured on weekly returns over the past three years, Invitation Homes (INVH) and Republic Services (RSG) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INVH and RSG?
Over the past 3 years, INVH and RSG moved with a correlation of 0.44, which is moderate. The link has loosened recently: the 1-year correlation (0.31) runs below the 3-year figure (0.44). Over 5 years the correlation is 0.50, and the annualized covariance of weekly returns is 150.2 %².
Among the 28 assets we track against INVH, RSG ranks #16 by 3-year correlation. Twelve-month performance is nearly a tie, at -1.9% for INVH and -5.6% for RSG. The rolling one-year correlation moved between 0.18 and 0.58 over the past three years, a moderate range.
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.
INVH vs RSG: side by side
| INVH (Invitation Homes) | RSG (Republic Services) | |
|---|---|---|
| 1-year return | -1.9% | -5.6% |
| 5-year return | -16.8% | +87.9% |
| Volatility (ann.) | 21.2% | 16.2% |
| Beta vs S&P 500 | 0.50 | 0.17 |
| Max drawdown (3Y) | -30.9% | -22.5% |
| Market cap | $17.4B | $67.1B |
| P/E (trailing) | 27.3 | 31.0 |
| Dividend yield | 3.98% | 1.13% |
| Sector / category | Real Estate | Industrials |
Year-by-year returns
| Year | INVH | RSG |
|---|---|---|
| 2022 | -33.0% | -6.2% |
| 2023 | +19.7% | +29.6% |
| 2024 | -3.1% | +23.0% |
| 2025 | -9.7% | +6.4% |
| 2026 | +7.6% | +4.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INVH and RSG good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between INVH and RSG?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.31 over the last year and 0.50 over 5 years.
Is RSG a good diversifier for INVH?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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.
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Related comparisons
Hubs: INVH correlations · RSG correlations
