PFG vs RSP: Correlation
How closely do Principal Financial Group (PFG) and Invesco S&P 500 Equal Weight ETF (RSP) trade together? Their weekly returns over three years give a correlation of 0.69, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PFG and RSP?
Across a 3-year window, the weekly returns of PFG and RSP correlate at 0.69, strong. Lately the two have drifted apart, with the 1-year correlation at 0.42 versus 0.69 over 3 years. Stretching to 5 years gives 0.73, with an annualized covariance of 209.1 %².
Within PFG's tracked universe of 32 assets, RSP comes in at #12 by 3-year correlation. The last year tells two different stories: PFG led by 24.7 percentage points, +43.9% for PFG against +19.2% for RSP. The rolling one-year correlation moved between 0.44 and 0.84 over the past three years, a moderate range. One caveat on sizing: PFG is 1.7 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.
PFG vs RSP: side by side
| PFG (Principal Financial Group) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | +43.9% | +19.2% |
| 5-year return | +99.7% | +53.9% |
| Volatility (ann.) | 22.9% | 13.2% |
| Beta vs S&P 500 | 0.88 | 0.77 |
| Max drawdown (3Y) | -22.4% | -17.8% |
| Market cap | $24.0B | – |
| P/E (trailing) | 16.0 | – |
| Dividend yield | 2.84% | 1.49% |
| Expense ratio | – | 0.20% |
| Assets under management | – | $97.3B |
| Sector / category | Financials | 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 | PFG | RSP |
|---|---|---|
| 2022 | +20.1% | -11.6% |
| 2023 | -2.8% | +13.7% |
| 2024 | +1.9% | +12.8% |
| 2025 | +18.4% | +11.2% |
| 2026 | +29.3% | +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 PFG at a 0.19% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are PFG and RSP good diversifiers for each other?
Only partially. A correlation of 0.69 means PFG 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 PFG and RSP?
As of 2026-08-27, the correlation of weekly returns between PFG and RSP is 0.69 over 3 years, 0.42 over 1 year and 0.73 over 5 years.
Is RSP a good diversifier for PFG?
Only partially. A correlation of 0.69 means PFG 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 0.69 mean?
On the −1 to +1 scale, 0.69 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/pfg-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pfg-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PFG correlations · RSP correlations
