LIN vs RSP: Correlation
Linde plc (LIN) and Invesco S&P 500 Equal Weight ETF (RSP) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LIN and RSP?
Over the past 3 years, LIN and RSP moved with a correlation of 0.48, which is moderate. The link has loosened recently: the 1-year correlation (0.23) runs below the 3-year figure (0.48). Over 5 years the correlation is 0.59, and the annualized covariance of weekly returns is 105.1 %².
Among the 36 assets we track against LIN, RSP ranks #7 by 3-year correlation. The last year tells two different stories: RSP led by 17.3 percentage points, +1.9% for LIN against +19.2% for RSP. This link changes with the market regime, having swung between 0.25 and 0.75 on a rolling one-year basis.
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.
LIN vs RSP: side by side
| LIN (Linde plc) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | +1.9% | +19.2% |
| 5-year return | +64.6% | +53.9% |
| Volatility (ann.) | 16.5% | 13.2% |
| Beta vs S&P 500 | 0.37 | 0.77 |
| Max drawdown (3Y) | -19.2% | -17.8% |
| Market cap | $223.7B | – |
| P/E (trailing) | 31.6 | – |
| Dividend yield | 1.26% | 1.49% |
| Expense ratio | – | 0.20% |
| Assets under management | – | $97.3B |
| Sector / category | Materials | 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 | LIN | RSP |
|---|---|---|
| 2022 | -4.4% | -11.6% |
| 2023 | +27.7% | +13.7% |
| 2024 | +3.2% | +12.8% |
| 2025 | +3.2% | +11.2% |
| 2026 | +14.6% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that RSP holds LIN at a 0.18% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are LIN and RSP good diversifiers for each other?
Reasonably. At 0.48, LIN and RSP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between LIN and RSP?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.23 over the last year and 0.59 over 5 years.
Is RSP a good diversifier for LIN?
Reasonably. At 0.48, LIN and RSP keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 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
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Related comparisons
Hubs: LIN correlations · RSP correlations
