MTD vs RSP: Correlation
Mettler Toledo (MTD) and Invesco S&P 500 Equal Weight ETF (RSP) show a moderate relationship: their 3-year correlation of weekly returns is 0.59.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MTD and RSP?
On 3 years of weekly data the MTD/RSP correlation comes out at 0.59, moderate. Recent behaviour matches the longer record: 0.49 over 1 year against 0.59 over 3. The 5-year figure is 0.68, and annualized covariance runs at 243.8 %².
By 3-year correlation, RSP places #6 of the 38 assets tracked against MTD. On 12-month performance RSP holds a 9.7-point edge, +9.5% against +19.2%. The rolling one-year correlation moved between 0.44 and 0.81 over the past three years, a moderate range. Risk is not evenly split, since MTD carries 2.4 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.
MTD vs RSP: side by side
| MTD (Mettler Toledo) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | +9.5% | +19.2% |
| 5-year return | -11.4% | +53.9% |
| Volatility (ann.) | 31.4% | 13.2% |
| Beta vs S&P 500 | 1.00 | 0.77 |
| Max drawdown (3Y) | -36.6% | -17.8% |
| Market cap | $28.2B | – |
| P/E (trailing) | 31.7 | – |
| Dividend yield | 0.00% | 1.49% |
| Expense ratio | – | 0.20% |
| Assets under management | – | $97.3B |
| Sector / category | Health Care | 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 | MTD | RSP |
|---|---|---|
| 2022 | -14.8% | -11.6% |
| 2023 | -16.1% | +13.7% |
| 2024 | +0.9% | +12.8% |
| 2025 | +13.9% | +11.2% |
| 2026 | +0.9% | +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 MTD at a 0.23% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are MTD and RSP good diversifiers for each other?
To a limited degree. At 0.59 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 MTD and RSP?
The MTD/RSP correlation stands at 0.59 on a 3-year window (1 year: 0.49, 5 years: 0.68), computed from weekly returns as of 2026-08-27.
Is RSP a good diversifier for MTD?
To a limited degree. At 0.59 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 0.59 mean?
On the −1 to +1 scale, 0.59 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
$ curl https://www.pairbook.io/api/v1/pairs/mtd-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mtd-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MTD correlations · RSP correlations
