LYV vs RSP: Correlation
Measured on weekly returns over the past three years, Live Nation Entertainment (LYV) and Invesco S&P 500 Equal Weight ETF (RSP) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LYV and RSP?
On 3 years of weekly data the LYV/RSP correlation comes out at 0.52, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.33 versus 0.52 over 3 years. The 5-year figure is 0.57, and annualized covariance runs at 193.1 %².
By 3-year correlation, RSP places #12 of the 35 assets tracked against LYV. On 12-month performance RSP holds a 10.1-point edge, +9.1% against +19.2%. The rolling one-year correlation moved between 0.31 and 0.68 over the past three years, a moderate range. One caveat on sizing: LYV is 2.1 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.
LYV vs RSP: side by side
| LYV (Live Nation Entertainment) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | +9.1% | +19.2% |
| 5-year return | +108.7% | +53.9% |
| Volatility (ann.) | 28.1% | 13.2% |
| Beta vs S&P 500 | 1.02 | 0.77 |
| Max drawdown (3Y) | -27.8% | -17.8% |
| Market cap | $42.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.49% |
| Expense ratio | – | 0.20% |
| Assets under management | – | $97.3B |
| Sector / category | Communication Services | 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 | LYV | RSP |
|---|---|---|
| 2022 | -41.7% | -11.6% |
| 2023 | +34.2% | +13.7% |
| 2024 | +38.4% | +12.8% |
| 2025 | +10.0% | +11.2% |
| 2026 | +26.8% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
LYV represents 0.2% of RSP's portfolio, so part of any move in RSP is LYV itself, and the correlation between them is partly mechanical.
Are LYV and RSP good diversifiers for each other?
Only partially. A correlation of 0.52 means LYV and RSP share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between LYV and RSP?
The LYV/RSP correlation stands at 0.52 on a 3-year window (1 year: 0.33, 5 years: 0.57), computed from weekly returns as of 2026-08-27.
Is RSP a good diversifier for LYV?
Only partially. A correlation of 0.52 means LYV and RSP share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.52 mean?
A reading of 0.52 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/lyv-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/lyv-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LYV correlations · RSP correlations
