RSP vs SWK: Correlation
Invesco S&P 500 Equal Weight ETF (RSP) and Stanley Black & Decker (SWK) show a strong relationship: their 3-year correlation of weekly returns is 0.69.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RSP and SWK?
Over the past 3 years, RSP and SWK moved with a correlation of 0.69, which is strong. The relationship has been stable: the 1-year correlation (0.68) sits close to the 3-year figure. Over 5 years the correlation is 0.67, and the annualized covariance of weekly returns is 322.4 %².
Within RSP's tracked universe of 250 assets, SWK comes in at #64 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SWK outperformed by 17.8 percentage points (+19.2% for RSP against +37.0% for SWK). The rolling one-year correlation stayed in a tight band between 0.58 and 0.82 over the past three years, which points to a structural rather than episodic relationship. One caveat on sizing: SWK is 2.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 SWK: side by side
| RSP (Invesco S&P 500 Equal Weight ETF) | SWK (Stanley Black & Decker) | |
|---|---|---|
| 1-year return | +19.2% | +37.0% |
| 5-year return | +53.9% | -39.1% |
| Volatility (ann.) | 13.2% | 35.4% |
| Beta vs S&P 500 | 0.77 | 1.19 |
| Max drawdown (3Y) | -17.8% | -48.3% |
| Market cap | – | $15.0B |
| P/E (trailing) | – | 24.4 |
| Dividend yield | 1.49% | 3.33% |
| Expense ratio | 0.20% | – |
| Assets under management | $97.3B | – |
| Sector / category | ETF · US Large Cap | Industrials |
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 | SWK |
|---|---|---|
| 2022 | -11.6% | -58.9% |
| 2023 | +13.7% | +35.6% |
| 2024 | +12.8% | -15.2% |
| 2025 | +11.2% | -3.2% |
| 2026 | +16.5% | +36.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
SWK represents 0.24% of RSP's portfolio, so part of any move in RSP is SWK itself, and the correlation between them is partly mechanical.
Are RSP and SWK good diversifiers for each other?
To a limited degree. At 0.69 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 SWK?
The RSP/SWK correlation stands at 0.69 on a 3-year window (1 year: 0.68, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is SWK a good diversifier for RSP?
To a limited degree. At 0.69 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 0.69 mean?
On the −1 to +1 scale, 0.69 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-swk.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/rsp-vs-swk/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RSP correlations · SWK correlations
