RSP vs TEL: Correlation
Invesco S&P 500 Equal Weight ETF (RSP) and TE Connectivity (TEL) show a strong relationship: their 3-year correlation of weekly returns is 0.65.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RSP and TEL?
On 3 years of weekly data the RSP/TEL correlation comes out at 0.65, strong. Lately the two have drifted apart, with the 1-year correlation at 0.43 versus 0.65 over 3 years. The 5-year figure is 0.70, and annualized covariance runs at 247.4 %².
Within RSP's tracked universe of 250 assets, TEL comes in at #90 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months RSP outperformed by 20.3 percentage points (+19.2% for RSP against -1.1% for TEL). Across three years, the rolling one-year figure varied moderately, from 0.42 to 0.85. Risk is not evenly split, since TEL carries 2.2 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 TEL: side by side
| RSP (Invesco S&P 500 Equal Weight ETF) | TEL (TE Connectivity) | |
|---|---|---|
| 1-year return | +19.2% | -1.1% |
| 5-year return | +53.9% | +43.7% |
| Volatility (ann.) | 13.2% | 28.8% |
| Beta vs S&P 500 | 0.77 | 1.32 |
| Max drawdown (3Y) | -17.8% | -22.6% |
| Market cap | – | $58.8B |
| P/E (trailing) | – | 20.1 |
| Dividend yield | 1.49% | 1.42% |
| Expense ratio | 0.20% | – |
| Assets under management | $97.3B | – |
| Sector / category | ETF · US Large Cap | Information Technology |
RSP, Invesco's Large Blend fund, carries $97.3B under management, 505 holdings, a 0.20% expense ratio, a 1.49% trailing dividend yield.
Year-by-year returns
| Year | RSP | TEL |
|---|---|---|
| 2022 | -11.6% | -27.7% |
| 2023 | +13.7% | +24.6% |
| 2024 | +12.8% | +3.5% |
| 2025 | +11.2% | +61.1% |
| 2026 | +16.5% | -9.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
TEL represents 0.19% of RSP's portfolio, so part of any move in RSP is TEL itself, and the correlation between them is partly mechanical.
Are RSP and TEL good diversifiers for each other?
To a limited degree. At 0.65 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 TEL?
As of 2026-08-27, the correlation of weekly returns between RSP and TEL is 0.65 over 3 years, 0.43 over 1 year and 0.70 over 5 years.
Is TEL a good diversifier for RSP?
To a limited degree. At 0.65 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 0.65 mean?
On the −1 to +1 scale, 0.65 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-tel.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/rsp-vs-tel/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: RSP correlations · TEL correlations
