MCN vs RSP: Correlation
Measured on weekly returns over the past three years, XAI Madison Equity Premium Income Fund (MCN) and Invesco S&P 500 Equal Weight ETF (RSP) carry a correlation of 0.56, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MCN and RSP?
Over the past 3 years, MCN and RSP moved with a correlation of 0.56, which is moderate. Recent behaviour matches the longer record: 0.66 over 1 year against 0.56 over 3. Over 5 years the correlation is 0.62, and the annualized covariance of weekly returns is 103.6 %².
Within MCN's tracked universe of 13 assets, RSP comes in at #5 by 3-year correlation. The last year tells two different stories: RSP led by 17.4 percentage points, +1.8% for MCN against +19.2% for RSP.
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.
MCN vs RSP: side by side
| MCN (XAI Madison Equity Premium Income Fund) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | +1.8% | +19.2% |
| 5-year return | +17.0% | +53.9% |
| Volatility (ann.) | 13.9% | 13.2% |
| Beta vs S&P 500 | 0.46 | 0.77 |
| Max drawdown (3Y) | -24.5% | -17.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | 18.2 | – |
| Dividend yield | 12.74% | 1.49% |
| Expense ratio | – | 0.20% |
| Assets under management | – | $97.3B |
| Sector / category | US Listed | 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 | MCN | RSP |
|---|---|---|
| 2022 | +6.3% | -11.6% |
| 2023 | +7.0% | +13.7% |
| 2024 | -1.5% | +12.8% |
| 2025 | +0.7% | +11.2% |
| 2026 | +2.2% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MCN and RSP good diversifiers for each other?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between MCN and RSP?
Using weekly returns as of 2026-08-27: 0.56 over 3 years, with 0.66 over the last year and 0.62 over 5 years.
Is RSP a good diversifier for MCN?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.56 mean?
A reading of 0.56 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/mcn-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mcn-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MCN correlations · RSP correlations
