RSP vs URI: Correlation
How closely do Invesco S&P 500 Equal Weight ETF (RSP) and United Rentals (URI) trade together? Their weekly returns over three years give a correlation of 0.64, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RSP and URI?
Across a 3-year window, the weekly returns of RSP and URI correlate at 0.64, strong. The past 12 months show a weaker link (0.31) than the 3-year average (0.64). Stretching to 5 years gives 0.68, with an annualized covariance of 331.9 %².
By 3-year correlation, URI places #96 of the 250 assets tracked against RSP. On 12-month performance RSP holds a 9.0-point edge, +19.2% against +10.2%. This link changes with the market regime, having swung between 0.31 and 0.83 on a rolling one-year basis. Note the risk asymmetry: URI runs 3.0 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 URI: side by side
| RSP (Invesco S&P 500 Equal Weight ETF) | URI (United Rentals) | |
|---|---|---|
| 1-year return | +19.2% | +10.2% |
| 5-year return | +53.9% | +204.1% |
| Volatility (ann.) | 13.2% | 39.5% |
| Beta vs S&P 500 | 0.77 | 1.42 |
| Max drawdown (3Y) | -17.8% | -37.0% |
| Market cap | – | $64.6B |
| P/E (trailing) | – | 25.4 |
| Dividend yield | 1.49% | 0.71% |
| Expense ratio | 0.20% | – |
| Assets under management | $97.3B | – |
| Sector / category | ETF · US Large Cap | Industrials |
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 | URI |
|---|---|---|
| 2022 | -11.6% | +7.0% |
| 2023 | +13.7% | +63.6% |
| 2024 | +12.8% | +24.0% |
| 2025 | +11.2% | +15.9% |
| 2026 | +16.5% | +29.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.19% of RSP is URI itself, so the fund partly moves with the stock by construction.
Are RSP and URI good diversifiers for each other?
To a limited degree. At 0.64 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between RSP and URI?
As of 2026-08-27, the correlation of weekly returns between RSP and URI is 0.64 over 3 years, 0.31 over 1 year and 0.68 over 5 years.
Is URI a good diversifier for RSP?
To a limited degree. At 0.64 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.64 mean?
On the −1 to +1 scale, 0.64 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-uri.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/rsp-vs-uri/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RSP correlations · URI correlations
