PPG vs RSP: Correlation
PPG Industries (PPG) and Invesco S&P 500 Equal Weight ETF (RSP) show a strong relationship: their 3-year correlation of weekly returns is 0.70.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PPG and RSP?
Over the past 3 years, PPG and RSP moved with a correlation of 0.70, which is strong. Little has changed lately, as the 1-year reading of 0.66 lands near the 3-year figure. Over 5 years the correlation is 0.73, and the annualized covariance of weekly returns is 234.3 %².
Within PPG's tracked universe of 67 assets, RSP comes in at #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months RSP outperformed by 15.4 percentage points (+3.8% for PPG against +19.2% for RSP). Stability stands out here, with the rolling one-year correlation confined to 0.67 through 0.81. Note the risk asymmetry: PPG runs 1.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
PPG vs RSP: side by side
| PPG (PPG Industries) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | +3.8% | +19.2% |
| 5-year return | -22.0% | +53.9% |
| Volatility (ann.) | 25.5% | 13.2% |
| Beta vs S&P 500 | 0.90 | 0.77 |
| Max drawdown (3Y) | -37.4% | -17.8% |
| Market cap | $25.2B | – |
| P/E (trailing) | 16.4 | – |
| Dividend yield | 2.48% | 1.49% |
| Expense ratio | – | 0.20% |
| Assets under management | – | $97.3B |
| Sector / category | Materials | 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 | PPG | RSP |
|---|---|---|
| 2022 | -25.7% | -11.6% |
| 2023 | +21.2% | +13.7% |
| 2024 | -18.5% | +12.8% |
| 2025 | -12.0% | +11.2% |
| 2026 | +12.8% | +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 PPG at a 0.19% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are PPG and RSP good diversifiers for each other?
To a limited degree. At 0.70 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 PPG and RSP?
Using weekly returns as of 2026-08-27: 0.70 over 3 years, with 0.66 over the last year and 0.73 over 5 years.
Is RSP a good diversifier for PPG?
To a limited degree. At 0.70 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 0.70 mean?
On the −1 to +1 scale, 0.70 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/ppg-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ppg-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PPG correlations · RSP correlations
