OTIS vs RSP: Correlation
Measured on weekly returns over the past three years, Otis Worldwide (OTIS) 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 OTIS and RSP?
Across a 3-year window, the weekly returns of OTIS and RSP correlate at 0.56, moderate. The relationship has been stable: the 1-year correlation (0.60) sits close to the 3-year figure. Stretching to 5 years gives 0.67, with an annualized covariance of 140.3 %².
Among the 31 assets we track against OTIS, RSP ranks #4 by 3-year correlation. The last year tells two different stories: RSP led by 36.0 percentage points, -16.8% for OTIS against +19.2% for RSP. The rolling one-year correlation moved between 0.43 and 0.82 over the past three years, a moderate range.
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.
OTIS vs RSP: side by side
| OTIS (Otis Worldwide) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | -16.8% | +19.2% |
| 5-year return | -15.9% | +53.9% |
| Volatility (ann.) | 19.1% | 13.2% |
| Beta vs S&P 500 | 0.59 | 0.77 |
| Max drawdown (3Y) | -32.4% | -17.8% |
| Market cap | $27.2B | – |
| P/E (trailing) | 18.4 | – |
| Dividend yield | 2.35% | 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 | OTIS | RSP |
|---|---|---|
| 2022 | -8.8% | -11.6% |
| 2023 | +16.0% | +13.7% |
| 2024 | +5.2% | +12.8% |
| 2025 | -4.0% | +11.2% |
| 2026 | -16.8% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
OTIS represents 0.19% of RSP's portfolio, so part of any move in RSP is OTIS itself, and the correlation between them is partly mechanical.
Are OTIS and RSP good diversifiers for each other?
To a limited degree. At 0.56 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 OTIS and RSP?
As of 2026-08-27, the correlation of weekly returns between OTIS and RSP is 0.56 over 3 years, 0.60 over 1 year and 0.67 over 5 years.
Is RSP a good diversifier for OTIS?
To a limited degree. At 0.56 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 0.56 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/otis-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/otis-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: OTIS correlations · RSP correlations
