RSP vs SNA: Correlation
Invesco S&P 500 Equal Weight ETF (RSP) and Snap-on (SNA) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RSP and SNA?
On 3 years of weekly data the RSP/SNA correlation comes out at 0.62, strong. Little has changed lately, as the 1-year reading of 0.60 lands near the 3-year figure. The 5-year figure is 0.65, and annualized covariance runs at 173.6 %².
Among the 250 assets we track against RSP, SNA ranks #111 by 3-year correlation. Their 12-month results are close: +19.2% for RSP against +23.1% for SNA. The rolling one-year correlation stayed in a tight band between 0.51 and 0.71 over the past three years, which points to a structural rather than episodic relationship. Note the risk asymmetry: SNA runs 1.6 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 SNA: side by side
| RSP (Invesco S&P 500 Equal Weight ETF) | SNA (Snap-on) | |
|---|---|---|
| 1-year return | +19.2% | +23.1% |
| 5-year return | +53.9% | +99.6% |
| Volatility (ann.) | 13.2% | 21.3% |
| Beta vs S&P 500 | 0.77 | 0.70 |
| Max drawdown (3Y) | -17.8% | -20.8% |
| Market cap | – | $20.5B |
| P/E (trailing) | – | 20.2 |
| Dividend yield | 1.49% | 2.38% |
| Expense ratio | 0.20% | – |
| Assets under management | $97.3B | – |
| Sector / category | ETF · US Large Cap | Industrials |
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 | SNA |
|---|---|---|
| 2022 | -11.6% | +8.9% |
| 2023 | +13.7% | +29.7% |
| 2024 | +12.8% | +20.7% |
| 2025 | +11.2% | +4.3% |
| 2026 | +16.5% | +17.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
SNA represents 0.2% of RSP's portfolio, so part of any move in RSP is SNA itself, and the correlation between them is partly mechanical.
Are RSP and SNA good diversifiers for each other?
Only partially. A correlation of 0.62 means RSP and SNA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between RSP and SNA?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.60 over the last year and 0.65 over 5 years.
Is SNA a good diversifier for RSP?
Only partially. A correlation of 0.62 means RSP and SNA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.62 mean?
On the −1 to +1 scale, 0.62 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/rsp-vs-sna.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/rsp-vs-sna/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RSP correlations · SNA correlations
