NAVI vs RSP: Correlation
Measured on weekly returns over the past three years, Navient Corporation (NAVI) and Invesco S&P 500 Equal Weight ETF (RSP) carry a correlation of 0.61, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NAVI and RSP?
Over the past 3 years, NAVI and RSP moved with a correlation of 0.61, which is strong. The link has loosened recently: the 1-year correlation (0.50) runs below the 3-year figure (0.61). Over 5 years the correlation is 0.59, and the annualized covariance of weekly returns is 256.4 %².
Within NAVI's tracked universe of 13 assets, RSP comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with RSP ahead by 46.1 points (-26.9% versus +19.2%). One caveat on sizing: NAVI is 2.4 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.
NAVI vs RSP: side by side
| NAVI (Navient Corporation) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | -26.9% | +19.2% |
| 5-year return | -49.1% | +53.9% |
| Volatility (ann.) | 32.0% | 13.2% |
| Beta vs S&P 500 | 0.99 | 0.77 |
| Max drawdown (3Y) | -57.6% | -17.8% |
| Market cap | $0.9B | – |
| P/E (trailing) | – | – |
| Dividend yield | 6.83% | 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 | NAVI | RSP |
|---|---|---|
| 2022 | -19.3% | -11.6% |
| 2023 | +17.6% | +13.7% |
| 2024 | -25.6% | +12.8% |
| 2025 | +2.6% | +11.2% |
| 2026 | -25.5% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NAVI and RSP good diversifiers for each other?
To a limited degree. At 0.61 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 NAVI and RSP?
The NAVI/RSP correlation stands at 0.61 on a 3-year window (1 year: 0.50, 5 years: 0.59), computed from weekly returns as of 2026-08-27.
Is RSP a good diversifier for NAVI?
To a limited degree. At 0.61 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 0.61 mean?
On the −1 to +1 scale, 0.61 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/navi-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/navi-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NAVI correlations · RSP correlations
