RSP vs SPRB: Correlation
How closely do Invesco S&P 500 Equal Weight ETF (RSP) and Spruce Biosciences, Inc. (SPRB) trade together? Their weekly returns over three years give a correlation of -0.14, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RSP and SPRB?
Across a 3-year window, the weekly returns of RSP and SPRB correlate at -0.14, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.35 versus -0.14 over 3 years. Stretching to 5 years gives -0.07, with an annualized covariance of -2011.8 %².
By 3-year correlation, SPRB places #244 of the 250 assets tracked against RSP. Their recent paths diverged sharply: over the last 12 months SPRB outperformed by 727.1 percentage points (+19.2% for RSP against +746.3% for SPRB). Note the risk asymmetry: SPRB runs 82.3 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 SPRB: side by side
| RSP (Invesco S&P 500 Equal Weight ETF) | SPRB (Spruce Biosciences, Inc.) | |
|---|---|---|
| 1-year return | +19.2% | +746.3% |
| 5-year return | +53.9% | -99.8% |
| Volatility (ann.) | 13.2% | 1086.4% |
| Beta vs S&P 500 | 0.77 | -7.82 |
| Max drawdown (3Y) | -17.8% | -100.0% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 1.49% | 0.00% |
| Expense ratio | 0.20% | – |
| Assets under management | $97.3B | – |
| Sector / category | ETF · US Large Cap | US Listed |
RSP is a Large Blend fund from Invesco: $97.3B under management, 505 holdings, a 0.20% expense ratio, a 1.49% trailing dividend yield.
Year-by-year returns
| Year | RSP | SPRB |
|---|---|---|
| 2022 | -11.6% | -75.4% |
| 2023 | +13.7% | +167.1% |
| 2024 | +12.8% | -85.7% |
| 2025 | +11.2% | -96.3% |
| 2026 | +16.5% | -27.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RSP and SPRB good diversifiers for each other?
Yes. With a correlation of -0.14, RSP and SPRB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between RSP and SPRB?
Using weekly returns as of 2026-08-27: -0.14 over 3 years, with -0.35 over the last year and -0.07 over 5 years.
Is SPRB a good diversifier for RSP?
Yes. With a correlation of -0.14, RSP and SPRB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.14 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-sprb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/rsp-vs-sprb/)
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Related comparisons
Hubs: RSP correlations · SPRB correlations
