RSG vs USMV: Correlation
Measured on weekly returns over the past three years, Republic Services (RSG) and iShares MSCI USA Min Vol Factor ETF (USMV) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RSG and USMV?
Over the past 3 years, RSG and USMV moved with a correlation of 0.50, which is moderate. The link has loosened recently: the 1-year correlation (0.36) runs below the 3-year figure (0.50). Over 5 years the correlation is 0.61, and the annualized covariance of weekly returns is 80.0 %².
Among the 38 assets we track against RSG, USMV ranks #5 by 3-year correlation. The last year tells two different stories: USMV led by 15.7 percentage points, -5.6% for RSG against +10.1% for USMV. On a rolling one-year basis the correlation drifted between 0.37 and 0.69, a moderate band. Risk is not evenly split, since RSG carries 1.6 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.
RSG vs USMV: side by side
| RSG (Republic Services) | USMV (iShares MSCI USA Min Vol Factor ETF) | |
|---|---|---|
| 1-year return | -5.6% | +10.1% |
| 5-year return | +87.9% | +42.3% |
| Volatility (ann.) | 16.2% | 9.9% |
| Beta vs S&P 500 | 0.17 | 0.51 |
| Max drawdown (3Y) | -22.5% | -9.4% |
| Market cap | $67.1B | – |
| P/E (trailing) | 31.0 | – |
| Dividend yield | 1.13% | 1.48% |
| Expense ratio | – | 0.15% |
| Assets under management | – | $23.6B |
| Sector / category | Industrials | ETF · US Style |
USMV, iShares's Large Blend fund, carries $23.6B under management, 164 holdings, a 0.15% expense ratio, a 1.48% trailing dividend yield.
Year-by-year returns
| Year | RSG | USMV |
|---|---|---|
| 2022 | -6.2% | -9.4% |
| 2023 | +29.6% | +10.3% |
| 2024 | +23.0% | +15.7% |
| 2025 | +6.4% | +7.6% |
| 2026 | +4.4% | +9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 1.26% of USMV is RSG itself, so the fund partly moves with the stock by construction.
Are RSG and USMV good diversifiers for each other?
To a limited degree. At 0.50 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 RSG and USMV?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.36 over the last year and 0.61 over 5 years.
Is USMV a good diversifier for RSG?
To a limited degree. At 0.50 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 0.50 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/rsg-vs-usmv.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rsg-vs-usmv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RSG correlations · USMV correlations
