RSP vs SYK: Correlation
Measured on weekly returns over the past three years, Invesco S&P 500 Equal Weight ETF (RSP) and Stryker Corporation (SYK) 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 RSP and SYK?
Over the past 3 years, RSP and SYK moved with a correlation of 0.50, which is moderate. The link has loosened recently: the 1-year correlation (0.38) runs below the 3-year figure (0.50). Over 5 years the correlation is 0.63, and the annualized covariance of weekly returns is 143.1 %².
Within RSP's tracked universe of 250 assets, SYK comes in at #197 by 3-year correlation. The last year tells two different stories: RSP led by 36.4 percentage points, +19.2% for RSP against -17.2% for SYK. Across three years, the rolling one-year figure varied moderately, from 0.31 to 0.78. One caveat on sizing: SYK is 1.6 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 SYK: side by side
| RSP (Invesco S&P 500 Equal Weight ETF) | SYK (Stryker Corporation) | |
|---|---|---|
| 1-year return | +19.2% | -17.2% |
| 5-year return | +53.9% | +23.8% |
| Volatility (ann.) | 13.2% | 21.5% |
| Beta vs S&P 500 | 0.77 | 0.61 |
| Max drawdown (3Y) | -17.8% | -29.4% |
| Market cap | – | $123.6B |
| P/E (trailing) | – | 34.1 |
| Dividend yield | 1.49% | 1.06% |
| Expense ratio | 0.20% | – |
| Assets under management | $97.3B | – |
| Sector / category | ETF · US Large Cap | Health Care |
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 | SYK |
|---|---|---|
| 2022 | -11.6% | -7.4% |
| 2023 | +13.7% | +23.8% |
| 2024 | +12.8% | +21.3% |
| 2025 | +11.2% | -1.5% |
| 2026 | +16.5% | -7.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.2% of RSP is SYK itself, so the fund partly moves with the stock by construction.
Are RSP and SYK good diversifiers for each other?
Only partially. A correlation of 0.50 means RSP and SYK 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 SYK?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.38 over the last year and 0.63 over 5 years.
Is SYK a good diversifier for RSP?
Only partially. A correlation of 0.50 means RSP and SYK share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.50 mean?
On the −1 to +1 scale, 0.50 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-syk.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/rsp-vs-syk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: RSP correlations · SYK correlations
