RSP vs TSCO: Correlation
How closely do Invesco S&P 500 Equal Weight ETF (RSP) and Tractor Supply (TSCO) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RSP and TSCO?
Over the past 3 years, RSP and TSCO moved with a correlation of 0.46, which is moderate. Recent behaviour matches the longer record: 0.48 over 1 year against 0.46 over 3. Over 5 years the correlation is 0.45, and the annualized covariance of weekly returns is 171.6 %².
By 3-year correlation, TSCO places #221 of the 250 assets tracked against RSP. Correlation aside, the last 12 months split them widely, with RSP ahead by 62.2 points (+19.2% versus -43.0%). Stability stands out here, with the rolling one-year correlation confined to 0.37 through 0.60. Risk is not evenly split, since TSCO 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 TSCO: side by side
| RSP (Invesco S&P 500 Equal Weight ETF) | TSCO (Tractor Supply) | |
|---|---|---|
| 1-year return | +19.2% | -43.0% |
| 5-year return | +53.9% | -1.7% |
| Volatility (ann.) | 13.2% | 28.5% |
| Beta vs S&P 500 | 0.77 | 0.67 |
| Max drawdown (3Y) | -17.8% | -52.7% |
| Market cap | – | $18.1B |
| P/E (trailing) | – | 18.3 |
| Dividend yield | 1.49% | 2.68% |
| Expense ratio | 0.20% | – |
| Assets under management | $97.3B | – |
| Sector / category | ETF · US Large Cap | Consumer Discretionary |
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 | TSCO |
|---|---|---|
| 2022 | -11.6% | -4.0% |
| 2023 | +13.7% | -2.6% |
| 2024 | +12.8% | +25.4% |
| 2025 | +11.2% | -4.2% |
| 2026 | +16.5% | -29.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that RSP holds TSCO at a 0.21% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are RSP and TSCO good diversifiers for each other?
Reasonably. At 0.46, RSP and TSCO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between RSP and TSCO?
The RSP/TSCO correlation stands at 0.46 on a 3-year window (1 year: 0.48, 5 years: 0.45), computed from weekly returns as of 2026-08-27.
Is TSCO a good diversifier for RSP?
Reasonably. At 0.46, RSP and TSCO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.46 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-tsco.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rsp-vs-tsco/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: RSP correlations · TSCO correlations
