PAPL vs RSP: Correlation
How closely do Pineapple Financial Inc. (PAPL) and Invesco S&P 500 Equal Weight ETF (RSP) trade together? Their weekly returns over three years give a correlation of -0.13, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PAPL and RSP?
Over the past 3 years, PAPL and RSP moved with a correlation of -0.13, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.03) than the 3-year average (-0.13). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -303.2 %².
Within PAPL's tracked universe of 51 assets, RSP comes in at #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with RSP ahead by 89.9 points (-70.7% versus +19.2%). One caveat on sizing: PAPL is 13.7 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.
PAPL vs RSP: side by side
| PAPL (Pineapple Financial Inc.) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | -70.7% | +19.2% |
| 5-year return | n/a | +53.9% |
| Volatility (ann.) | 181.2% | 13.2% |
| Beta vs S&P 500 | -0.73 | 0.77 |
| Max drawdown (3Y) | -99.4% | -17.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 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 | PAPL | RSP |
|---|---|---|
| 2022 | – | -11.6% |
| 2023 | – | +13.7% |
| 2024 | -74.7% | +12.8% |
| 2025 | -84.4% | +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 PAPL and RSP good diversifiers for each other?
Yes: at -0.13, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PAPL and RSP?
As of 2026-08-27, the correlation of weekly returns between PAPL and RSP is -0.13 over 3 years, 0.03 over 1 year and n/a over 5 years.
Is RSP a good diversifier for PAPL?
Yes: at -0.13, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.13 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/papl-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/papl-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PAPL correlations · RSP correlations
