RSP vs TPR: Correlation
Invesco S&P 500 Equal Weight ETF (RSP) and Tapestry, Inc. (TPR) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RSP and TPR?
On 3 years of weekly data the RSP/TPR correlation comes out at 0.48, moderate. The relationship has been stable: the 1-year correlation (0.46) sits close to the 3-year figure. The 5-year figure is 0.54, and annualized covariance runs at 241.6 %².
Within RSP's tracked universe of 250 assets, TPR comes in at #212 by 3-year correlation. Neither side won the trailing year by much: +19.2% against +23.6%. On a rolling one-year basis the correlation drifted between 0.38 and 0.66, a moderate band. One caveat on sizing: TPR is 2.9 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 TPR: side by side
| RSP (Invesco S&P 500 Equal Weight ETF) | TPR (Tapestry, Inc.) | |
|---|---|---|
| 1-year return | +19.2% | +23.6% |
| 5-year return | +53.9% | +240.1% |
| Volatility (ann.) | 13.2% | 37.8% |
| Beta vs S&P 500 | 0.77 | 1.05 |
| Max drawdown (3Y) | -17.8% | -31.8% |
| Market cap | – | $24.6B |
| P/E (trailing) | – | 17.9 |
| Dividend yield | 1.49% | 1.23% |
| Expense ratio | 0.20% | – |
| Assets under management | $97.3B | – |
| Sector / category | ETF · US Large Cap | Consumer Discretionary |
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 | TPR |
|---|---|---|
| 2022 | -11.6% | -3.3% |
| 2023 | +13.7% | +0.2% |
| 2024 | +12.8% | +82.8% |
| 2025 | +11.2% | +98.7% |
| 2026 | +16.5% | -3.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
TPR represents 0.17% of RSP's portfolio, so part of any move in RSP is TPR itself, and the correlation between them is partly mechanical.
Are RSP and TPR good diversifiers for each other?
Reasonably. At 0.48, RSP and TPR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between RSP and TPR?
As of 2026-08-27, the correlation of weekly returns between RSP and TPR is 0.48 over 3 years, 0.46 over 1 year and 0.54 over 5 years.
Is TPR a good diversifier for RSP?
Reasonably. At 0.48, RSP and TPR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/rsp-vs-tpr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/rsp-vs-tpr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RSP correlations · TPR correlations
