PNR vs RSP: Correlation
Pentair (PNR) and Invesco S&P 500 Equal Weight ETF (RSP) show a strong relationship: their 3-year correlation of weekly returns is 0.63.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PNR and RSP?
Across a 3-year window, the weekly returns of PNR and RSP correlate at 0.63, strong. Lately the two have drifted apart, with the 1-year correlation at 0.34 versus 0.63 over 3 years. Stretching to 5 years gives 0.68, with an annualized covariance of 235.1 %².
In PNR's tracked universe of 38 assets, RSP sits right near the top at #3. The last year tells two different stories: RSP led by 61.7 percentage points, -42.5% for PNR against +19.2% for RSP. On a rolling one-year basis the correlation drifted between 0.36 and 0.84, a moderate band. Risk is not evenly split, since PNR carries 2.1 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.
PNR vs RSP: side by side
| PNR (Pentair) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | -42.5% | +19.2% |
| 5-year return | -14.1% | +53.9% |
| Volatility (ann.) | 28.2% | 13.2% |
| Beta vs S&P 500 | 1.07 | 0.77 |
| Max drawdown (3Y) | -45.0% | -17.8% |
| Market cap | $9.9B | – |
| P/E (trailing) | 16.2 | – |
| Dividend yield | 1.65% | 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 | PNR | RSP |
|---|---|---|
| 2022 | -37.4% | -11.6% |
| 2023 | +64.2% | +13.7% |
| 2024 | +40.0% | +12.8% |
| 2025 | +4.5% | +11.2% |
| 2026 | -39.8% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
PNR represents 0.16% of RSP's portfolio, so part of any move in RSP is PNR itself, and the correlation between them is partly mechanical.
Are PNR and RSP good diversifiers for each other?
To a limited degree. At 0.63 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 PNR and RSP?
Using weekly returns as of 2026-08-27: 0.63 over 3 years, with 0.34 over the last year and 0.68 over 5 years.
Is RSP a good diversifier for PNR?
To a limited degree. At 0.63 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 0.63 mean?
A reading of 0.63 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/pnr-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pnr-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PNR correlations · RSP correlations
