RSP vs TROW: Correlation
Measured on weekly returns over the past three years, Invesco S&P 500 Equal Weight ETF (RSP) and T. Rowe Price (TROW) carry a correlation of 0.72, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RSP and TROW?
Across a 3-year window, the weekly returns of RSP and TROW correlate at 0.72, strong. The link has loosened recently: the 1-year correlation (0.38) runs below the 3-year figure (0.72). Stretching to 5 years gives 0.74, with an annualized covariance of 223.1 %².
Within RSP's tracked universe of 250 assets, TROW comes in at #48 by 3-year correlation. On 12-month performance RSP holds a 11.1-point edge, +19.2% against +8.1%. Across three years, the rolling one-year figure varied moderately, from 0.42 to 0.85. Note the risk asymmetry: TROW runs 1.8 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 TROW: side by side
| RSP (Invesco S&P 500 Equal Weight ETF) | TROW (T. Rowe Price) | |
|---|---|---|
| 1-year return | +19.2% | +8.1% |
| 5-year return | +53.9% | -37.0% |
| Volatility (ann.) | 13.2% | 23.5% |
| Beta vs S&P 500 | 0.77 | 1.10 |
| Max drawdown (3Y) | -17.8% | -34.0% |
| Market cap | – | $24.0B |
| P/E (trailing) | – | 11.3 |
| Dividend yield | 1.49% | 4.57% |
| Expense ratio | 0.20% | – |
| Assets under management | $97.3B | – |
| Sector / category | ETF · US Large Cap | Financials |
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 | TROW |
|---|---|---|
| 2022 | -11.6% | -42.2% |
| 2023 | +13.7% | +3.4% |
| 2024 | +12.8% | +9.7% |
| 2025 | +11.2% | -4.7% |
| 2026 | +16.5% | +12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
TROW represents 0.2% of RSP's portfolio, so part of any move in RSP is TROW itself, and the correlation between them is partly mechanical.
Are RSP and TROW good diversifiers for each other?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between RSP and TROW?
The RSP/TROW correlation stands at 0.72 on a 3-year window (1 year: 0.38, 5 years: 0.74), computed from weekly returns as of 2026-08-27.
Is TROW a good diversifier for RSP?
Somewhat, no more. With 0.72 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.72 mean?
A reading of 0.72 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-trow.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/rsp-vs-trow/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: RSP correlations · TROW correlations
