RSP vs TDY: Correlation
How closely do Invesco S&P 500 Equal Weight ETF (RSP) and Teledyne Technologies (TDY) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RSP and TDY?
On 3 years of weekly data the RSP/TDY correlation comes out at 0.58, moderate. Little has changed lately, as the 1-year reading of 0.50 lands near the 3-year figure. The 5-year figure is 0.66, and annualized covariance runs at 169.5 %².
Within RSP's tracked universe of 250 assets, TDY comes in at #133 by 3-year correlation. Neither side won the trailing year by much: +19.2% against +15.7%. Across three years, the rolling one-year figure varied moderately, from 0.41 to 0.75. Risk is not evenly split, since TDY carries 1.7 times the volatility of the other side.
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 TDY: side by side
| RSP (Invesco S&P 500 Equal Weight ETF) | TDY (Teledyne Technologies) | |
|---|---|---|
| 1-year return | +19.2% | +15.7% |
| 5-year return | +53.9% | +36.5% |
| Volatility (ann.) | 13.2% | 22.0% |
| Beta vs S&P 500 | 0.77 | 0.76 |
| Max drawdown (3Y) | -17.8% | -18.8% |
| Market cap | – | $29.0B |
| P/E (trailing) | – | 30.7 |
| Dividend yield | 1.49% | 0.00% |
| Expense ratio | 0.20% | – |
| Assets under management | $97.3B | – |
| Sector / category | ETF · US Large Cap | Information Technology |
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 | TDY |
|---|---|---|
| 2022 | -11.6% | -8.5% |
| 2023 | +13.7% | +11.6% |
| 2024 | +12.8% | +4.0% |
| 2025 | +11.2% | +10.0% |
| 2026 | +16.5% | +22.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
TDY represents 0.2% of RSP's portfolio, so part of any move in RSP is TDY itself, and the correlation between them is partly mechanical.
Are RSP and TDY good diversifiers for each other?
Only partially. A correlation of 0.58 means RSP and TDY 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 TDY?
The RSP/TDY correlation stands at 0.58 on a 3-year window (1 year: 0.50, 5 years: 0.66), computed from weekly returns as of 2026-08-27.
Is TDY a good diversifier for RSP?
Only partially. A correlation of 0.58 means RSP and TDY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.58 mean?
A reading of 0.58 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/rsp-vs-tdy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/rsp-vs-tdy/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: RSP correlations · TDY correlations
