RSP vs TXT: Correlation
Invesco S&P 500 Equal Weight ETF (RSP) and Textron (TXT) show a strong relationship: their 3-year correlation of weekly returns is 0.66.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RSP and TXT?
Over the past 3 years, RSP and TXT moved with a correlation of 0.66, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.53 versus 0.66 over 3 years. Over 5 years the correlation is 0.69, and the annualized covariance of weekly returns is 220.0 %².
Among the 250 assets we track against RSP, TXT ranks #83 by 3-year correlation. Correlation aside, the last 12 months split them widely, with RSP ahead by 18.5 points (+19.2% versus +0.7%). On a rolling one-year basis the correlation drifted between 0.40 and 0.89, a moderate band. Risk is not evenly split, since TXT carries 1.9 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 TXT: side by side
| RSP (Invesco S&P 500 Equal Weight ETF) | TXT (Textron) | |
|---|---|---|
| 1-year return | +19.2% | +0.7% |
| 5-year return | +53.9% | +15.1% |
| Volatility (ann.) | 13.2% | 25.4% |
| Beta vs S&P 500 | 0.77 | 0.89 |
| Max drawdown (3Y) | -17.8% | -37.3% |
| Market cap | – | $14.2B |
| P/E (trailing) | – | 15.7 |
| Dividend yield | 1.49% | 0.10% |
| Expense ratio | 0.20% | – |
| Assets under management | $97.3B | – |
| Sector / category | ETF · US Large Cap | Industrials |
RSP is a Large Blend fund from Invesco: $97.3B under management, 505 holdings, a 0.20% expense ratio, a 1.49% trailing dividend yield.
Year-by-year returns
| Year | RSP | TXT |
|---|---|---|
| 2022 | -11.6% | -8.2% |
| 2023 | +13.7% | +13.7% |
| 2024 | +12.8% | -4.8% |
| 2025 | +11.2% | +14.1% |
| 2026 | +16.5% | -5.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.17% of RSP is TXT itself, so the fund partly moves with the stock by construction.
Are RSP and TXT good diversifiers for each other?
Only partially. A correlation of 0.66 means RSP and TXT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between RSP and TXT?
As of 2026-08-27, the correlation of weekly returns between RSP and TXT is 0.66 over 3 years, 0.53 over 1 year and 0.69 over 5 years.
Is TXT a good diversifier for RSP?
Only partially. A correlation of 0.66 means RSP and TXT share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.66 mean?
On the −1 to +1 scale, 0.66 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-txt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rsp-vs-txt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RSP correlations · TXT correlations
