RSP vs TKR: Correlation
Invesco S&P 500 Equal Weight ETF (RSP) and Timken Company (The) (TKR) show a strong relationship: their 3-year correlation of weekly returns is 0.68.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RSP and TKR?
Across a 3-year window, the weekly returns of RSP and TKR correlate at 0.68, strong. Lately the two have drifted apart, with the 1-year correlation at 0.57 versus 0.68 over 3 years. Stretching to 5 years gives 0.68, with an annualized covariance of 246.0 %².
Among the 250 assets we track against RSP, TKR ranks #70 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TKR outperformed by 40.6 percentage points (+19.2% for RSP against +59.8% for TKR). Risk is not evenly split, since TKR carries 2.1 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 TKR: side by side
| RSP (Invesco S&P 500 Equal Weight ETF) | TKR (Timken Company (The)) | |
|---|---|---|
| 1-year return | +19.2% | +59.8% |
| 5-year return | +53.9% | +80.3% |
| Volatility (ann.) | 13.2% | 27.4% |
| Beta vs S&P 500 | 0.77 | 0.98 |
| Max drawdown (3Y) | -17.8% | -37.6% |
| Market cap | – | $8.6B |
| P/E (trailing) | – | 33.7 |
| Dividend yield | 1.49% | 1.12% |
| Expense ratio | 0.20% | – |
| Assets under management | $97.3B | – |
| Sector / category | ETF · US Large Cap | US Listed |
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 | TKR |
|---|---|---|
| 2022 | -11.6% | +3.9% |
| 2023 | +13.7% | +15.4% |
| 2024 | +12.8% | -9.5% |
| 2025 | +11.2% | +20.0% |
| 2026 | +16.5% | +49.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RSP and TKR good diversifiers for each other?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between RSP and TKR?
Using weekly returns as of 2026-08-27: 0.68 over 3 years, with 0.57 over the last year and 0.68 over 5 years.
Is TKR a good diversifier for RSP?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.68 mean?
On the −1 to +1 scale, 0.68 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-tkr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/rsp-vs-tkr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: RSP correlations · TKR correlations
