RSP vs SN: Correlation
Measured on weekly returns over the past three years, Invesco S&P 500 Equal Weight ETF (RSP) and SharkNinja, Inc. (SN) carry a correlation of 0.56, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RSP and SN?
On 3 years of weekly data the RSP/SN correlation comes out at 0.56, moderate. Recent behaviour matches the longer record: 0.62 over 1 year against 0.56 over 3. The 5-year figure is n/a, and annualized covariance runs at 319.7 %².
By 3-year correlation, SN places #147 of the 250 assets tracked against RSP. Correlation aside, the last 12 months split them widely, with SN ahead by 41.1 points (+19.2% versus +60.3%). Note the risk asymmetry: SN runs 3.3 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.
RSP vs SN: side by side
| RSP (Invesco S&P 500 Equal Weight ETF) | SN (SharkNinja, Inc.) | |
|---|---|---|
| 1-year return | +19.2% | +60.3% |
| 5-year return | +53.9% | n/a |
| Volatility (ann.) | 13.2% | 43.5% |
| Beta vs S&P 500 | 0.77 | 1.43 |
| Max drawdown (3Y) | -17.8% | -42.6% |
| Market cap | – | $27.3B |
| P/E (trailing) | – | 39.4 |
| Dividend yield | 1.49% | 0.00% |
| Expense ratio | 0.20% | – |
| Assets under management | $97.3B | – |
| Sector / category | ETF · US Large Cap | US Listed |
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 | RSP | SN |
|---|---|---|
| 2022 | -11.6% | – |
| 2023 | +13.7% | – |
| 2024 | +12.8% | +90.3% |
| 2025 | +11.2% | +14.9% |
| 2026 | +16.5% | +72.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RSP and SN good diversifiers for each other?
To a limited degree. At 0.56 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 RSP and SN?
The RSP/SN correlation stands at 0.56 on a 3-year window (1 year: 0.62, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SN a good diversifier for RSP?
To a limited degree. At 0.56 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 0.56 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/rsp-vs-sn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rsp-vs-sn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RSP correlations · SN correlations
