RSP vs VREX: Correlation
How closely do Invesco S&P 500 Equal Weight ETF (RSP) and Varex Imaging Corporation (VREX) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RSP and VREX?
Over the past 3 years, RSP and VREX moved with a correlation of 0.52, which is moderate. Recent behaviour matches the longer record: 0.46 over 1 year against 0.52 over 3. Over 5 years the correlation is 0.39, and the annualized covariance of weekly returns is 399.7 %².
Within RSP's tracked universe of 250 assets, VREX comes in at #184 by 3-year correlation. Correlation aside, the last 12 months split them widely, with VREX ahead by 42.3 points (+19.2% versus +61.5%). Note the risk asymmetry: VREX runs 4.4 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 VREX: side by side
| RSP (Invesco S&P 500 Equal Weight ETF) | VREX (Varex Imaging Corporation) | |
|---|---|---|
| 1-year return | +19.2% | +61.5% |
| 5-year return | +53.9% | -36.0% |
| Volatility (ann.) | 13.2% | 58.7% |
| Beta vs S&P 500 | 0.77 | 1.91 |
| Max drawdown (3Y) | -17.8% | -67.8% |
| Market cap | – | $0.8B |
| P/E (trailing) | – | 34.9 |
| Dividend yield | 1.49% | 0.00% |
| Expense ratio | 0.20% | – |
| Assets under management | $97.3B | – |
| Sector / category | ETF · US Large Cap | US Listed |
RSP, Invesco's Large Blend fund, carries $97.3B under management, 505 holdings, a 0.20% expense ratio, a 1.49% trailing dividend yield.
Year-by-year returns
| Year | RSP | VREX |
|---|---|---|
| 2022 | -11.6% | -35.7% |
| 2023 | +13.7% | +1.0% |
| 2024 | +12.8% | -28.8% |
| 2025 | +11.2% | -20.2% |
| 2026 | +16.5% | +58.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RSP and VREX good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between RSP and VREX?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.46 over the last year and 0.39 over 5 years.
Is VREX a good diversifier for RSP?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 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-vrex.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/rsp-vs-vrex/)
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Related comparisons
Hubs: RSP correlations · VREX correlations
