MMM vs RSP: Correlation
Measured on weekly returns over the past three years, 3M (MMM) and Invesco S&P 500 Equal Weight ETF (RSP) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MMM and RSP?
Across a 3-year window, the weekly returns of MMM and RSP correlate at 0.55, moderate. Recent behaviour matches the longer record: 0.60 over 1 year against 0.55 over 3. Stretching to 5 years gives 0.62, with an annualized covariance of 217.7 %².
By 3-year correlation, RSP places #13 of the 34 assets tracked against MMM. Their 12-month results are close: +16.4% for MMM against +19.2% for RSP. On a rolling one-year basis the correlation drifted between 0.28 and 0.77, a moderate band. Risk is not evenly split, since MMM carries 2.3 times the volatility of the other side.
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.
MMM vs RSP: side by side
| MMM (3M) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | +16.4% | +19.2% |
| 5-year return | +29.9% | +53.9% |
| Volatility (ann.) | 29.8% | 13.2% |
| Beta vs S&P 500 | 0.89 | 0.77 |
| Max drawdown (3Y) | -20.7% | -17.8% |
| Market cap | $92.2B | – |
| P/E (trailing) | 31.9 | – |
| Dividend yield | 1.68% | 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 | MMM | RSP |
|---|---|---|
| 2022 | -29.6% | -11.6% |
| 2023 | -3.3% | +13.7% |
| 2024 | +46.1% | +12.8% |
| 2025 | +26.4% | +11.2% |
| 2026 | +13.3% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.21% of RSP is MMM itself, so the fund partly moves with the stock by construction.
Are MMM and RSP good diversifiers for each other?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between MMM and RSP?
The MMM/RSP correlation stands at 0.55 on a 3-year window (1 year: 0.60, 5 years: 0.62), computed from weekly returns as of 2026-08-27.
Is RSP a good diversifier for MMM?
To a limited degree. At 0.55 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.55 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/mmm-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mmm-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MMM correlations · RSP correlations
