RMD vs RSP: Correlation
Measured on weekly returns over the past three years, ResMed (RMD) and Invesco S&P 500 Equal Weight ETF (RSP) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RMD and RSP?
On 3 years of weekly data the RMD/RSP correlation comes out at 0.45, moderate. Recent behaviour matches the longer record: 0.39 over 1 year against 0.45 over 3. The 5-year figure is 0.50, and annualized covariance runs at 184.3 %².
By 3-year correlation, RSP places #8 of the 29 assets tracked against RMD. Their recent paths diverged sharply: over the last 12 months RSP outperformed by 34.7 percentage points (-15.5% for RMD against +19.2% for RSP). On a rolling one-year basis the correlation drifted between 0.25 and 0.63, a moderate band. Risk is not evenly split, since RMD carries 2.4 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.
RMD vs RSP: side by side
| RMD (ResMed) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | -15.5% | +19.2% |
| 5-year return | -14.6% | +53.9% |
| Volatility (ann.) | 31.2% | 13.2% |
| Beta vs S&P 500 | 0.79 | 0.77 |
| Max drawdown (3Y) | -37.3% | -17.8% |
| Market cap | $34.0B | – |
| P/E (trailing) | 22.6 | – |
| Dividend yield | 1.02% | 1.49% |
| Expense ratio | – | 0.20% |
| Assets under management | – | $97.3B |
| Sector / category | Health Care | 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 | RMD | RSP |
|---|---|---|
| 2022 | -19.5% | -11.6% |
| 2023 | -16.5% | +13.7% |
| 2024 | +34.2% | +12.8% |
| 2025 | +6.3% | +11.2% |
| 2026 | -1.3% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.23% of RSP is RMD itself, so the fund partly moves with the stock by construction.
Are RMD and RSP good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between RMD and RSP?
As of 2026-08-27, the correlation of weekly returns between RMD and RSP is 0.45 over 3 years, 0.39 over 1 year and 0.50 over 5 years.
Is RSP a good diversifier for RMD?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 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/rmd-vs-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/rmd-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: RMD correlations · RSP correlations
