RSP vs TCRT: Correlation
Invesco S&P 500 Equal Weight ETF (RSP) and Alaunos Therapeutics, Inc. (TCRT) show a negative relationship: their 3-year correlation of weekly returns is -0.16.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RSP and TCRT?
On 3 years of weekly data the RSP/TCRT correlation comes out at -0.16, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.12) sits close to the 3-year figure. The 5-year figure is -0.00, and annualized covariance runs at -262.3 %².
TCRT is close to the least connected end of RSP's tracked universe, ranking #247 of 250. The last year tells two different stories: RSP led by 31.4 percentage points, +19.2% for RSP against -12.2% for TCRT. Note the risk asymmetry: TCRT runs 9.2 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 TCRT: side by side
| RSP (Invesco S&P 500 Equal Weight ETF) | TCRT (Alaunos Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +19.2% | -12.2% |
| 5-year return | +53.9% | -99.3% |
| Volatility (ann.) | 13.2% | 121.9% |
| Beta vs S&P 500 | 0.77 | -1.11 |
| Max drawdown (3Y) | -17.8% | -95.0% |
| Market cap | – | – |
| 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 |
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 | TCRT |
|---|---|---|
| 2022 | -11.6% | -40.4% |
| 2023 | +13.7% | -89.2% |
| 2024 | +12.8% | -81.8% |
| 2025 | +11.2% | +69.1% |
| 2026 | +16.5% | -48.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RSP and TCRT good diversifiers for each other?
Yes. With a correlation of -0.16, RSP and TCRT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between RSP and TCRT?
As of 2026-08-27, the correlation of weekly returns between RSP and TCRT is -0.16 over 3 years, -0.12 over 1 year and -0.00 over 5 years.
Is TCRT a good diversifier for RSP?
Yes. With a correlation of -0.16, RSP and TCRT have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.16 mean?
On the −1 to +1 scale, -0.16 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-tcrt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rsp-vs-tcrt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: RSP correlations · TCRT correlations
