MSA vs RSP: Correlation
Measured on weekly returns over the past three years, MSA Safety Incorporated (MSA) and Invesco S&P 500 Equal Weight ETF (RSP) carry a correlation of 0.62, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MSA and RSP?
Across a 3-year window, the weekly returns of MSA and RSP correlate at 0.62, strong. Lately the two have drifted apart, with the 1-year correlation at 0.51 versus 0.62 over 3 years. Stretching to 5 years gives 0.64, with an annualized covariance of 193.1 %².
Among the 12 assets we track against MSA, RSP ranks #5 by 3-year correlation. The trailing year gives RSP the advantage: +11.4% versus +19.2%, a 7.8-point spread. Note the risk asymmetry: MSA runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
MSA vs RSP: side by side
| MSA (MSA Safety Incorporated) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | +11.4% | +19.2% |
| 5-year return | +27.9% | +53.9% |
| Volatility (ann.) | 23.4% | 13.2% |
| Beta vs S&P 500 | 0.85 | 0.77 |
| Max drawdown (3Y) | -34.3% | -17.8% |
| Market cap | $7.4B | – |
| P/E (trailing) | 23.7 | – |
| Dividend yield | 1.12% | 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 | MSA | RSP |
|---|---|---|
| 2022 | -3.1% | -11.6% |
| 2023 | +18.5% | +13.7% |
| 2024 | -0.7% | +12.8% |
| 2025 | -2.1% | +11.2% |
| 2026 | +20.7% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MSA and RSP good diversifiers for each other?
Only partially. A correlation of 0.62 means MSA 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 MSA and RSP?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.51 over the last year and 0.64 over 5 years.
Is RSP a good diversifier for MSA?
Only partially. A correlation of 0.62 means MSA 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 0.62 mean?
A reading of 0.62 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/msa-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/msa-vs-rsp/)
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Related comparisons
Hubs: MSA correlations · RSP correlations
