RSG vs TAN: Correlation
Measured on weekly returns over the past three years, Republic Services (RSG) and Invesco Solar ETF (TAN) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RSG and TAN?
On 3 years of weekly data the RSG/TAN correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.36) runs below the 3-year figure (-0.19). The 5-year figure is 0.05, and annualized covariance runs at -112.5 %².
By 3-year correlation, TAN places #26 of the 38 assets tracked against RSG. The last year tells two different stories: TAN led by 27.0 percentage points, -5.6% for RSG against +21.4% for TAN. The relationship is regime-dependent: the rolling one-year correlation swung between -0.33 and 0.27 over the past three years, so this pair behaves very differently depending on the market environment. Note the risk asymmetry: TAN runs 2.3 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.
RSG vs TAN: side by side
| RSG (Republic Services) | TAN (Invesco Solar ETF) | |
|---|---|---|
| 1-year return | -5.6% | +21.4% |
| 5-year return | +87.9% | -41.9% |
| Volatility (ann.) | 16.2% | 37.4% |
| Beta vs S&P 500 | 0.17 | 1.04 |
| Max drawdown (3Y) | -22.5% | -55.4% |
| Market cap | $67.1B | – |
| P/E (trailing) | 31.0 | – |
| Dividend yield | 1.13% | – |
| Sector / category | Industrials | ETF · Thematic |
Year-by-year returns
| Year | RSG | TAN |
|---|---|---|
| 2022 | -6.2% | -5.2% |
| 2023 | +29.6% | -26.8% |
| 2024 | +23.0% | -37.6% |
| 2025 | +6.4% | +48.3% |
| 2026 | +4.4% | +1.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RSG and TAN good diversifiers for each other?
Yes. With a correlation of -0.19, RSG and TAN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between RSG and TAN?
The RSG/TAN correlation stands at -0.19 on a 3-year window (1 year: -0.36, 5 years: 0.05), computed from weekly returns as of 2026-08-27.
Is TAN a good diversifier for RSG?
Yes. With a correlation of -0.19, RSG and TAN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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/rsg-vs-tan.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/rsg-vs-tan/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: RSG correlations · TAN correlations
