RSP vs VELO: Correlation
Measured on weekly returns over the past three years, Invesco S&P 500 Equal Weight ETF (RSP) and Velo3D, Inc. (VELO) carry a correlation of -0.15, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RSP and VELO?
Over the past 3 years, RSP and VELO moved with a correlation of -0.15, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.15) than the 3-year average (-0.15). Over 5 years the correlation is 0.01, and the annualized covariance of weekly returns is -484.4 %².
VELO is close to the least connected end of RSP's tracked universe, ranking #246 of 250. Their recent paths diverged sharply: over the last 12 months VELO outperformed by 162.7 percentage points (+19.2% for RSP against +181.9% for VELO). One caveat on sizing: VELO is 18.9 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 VELO: side by side
| RSP (Invesco S&P 500 Equal Weight ETF) | VELO (Velo3D, Inc.) | |
|---|---|---|
| 1-year return | +19.2% | +181.9% |
| 5-year return | +53.9% | -99.8% |
| Volatility (ann.) | 13.2% | 249.0% |
| Beta vs S&P 500 | 0.77 | -2.66 |
| Max drawdown (3Y) | -17.8% | -99.8% |
| Market cap | – | $0.4B |
| P/E (trailing) | – | – |
| Dividend yield | 1.49% | 0.00% |
| Expense ratio | 0.20% | – |
| Assets under management | $97.3B | – |
| Sector / category | ETF · US Large Cap | US Listed |
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 | VELO |
|---|---|---|
| 2022 | -11.6% | -77.1% |
| 2023 | +13.7% | -77.8% |
| 2024 | +12.8% | -95.2% |
| 2025 | +11.2% | +35.7% |
| 2026 | +16.5% | -6.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RSP and VELO good diversifiers for each other?
By historical standards, yes. A correlation of -0.15 means the two rarely move for the same reasons.
FAQ
What is the correlation between RSP and VELO?
As of 2026-08-27, the correlation of weekly returns between RSP and VELO is -0.15 over 3 years, 0.15 over 1 year and 0.01 over 5 years.
Is VELO a good diversifier for RSP?
By historical standards, yes. A correlation of -0.15 means the two rarely move for the same reasons.
What does a correlation of -0.15 mean?
A reading of -0.15 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-velo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/rsp-vs-velo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: RSP correlations · VELO correlations
