RSP vs WY: Correlation
How closely do Invesco S&P 500 Equal Weight ETF (RSP) and Weyerhaeuser (WY) trade together? Their weekly returns over three years give a correlation of 0.65, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RSP and WY?
On 3 years of weekly data the RSP/WY correlation comes out at 0.65, strong. The past 12 months show a weaker link (0.42) than the 3-year average (0.65). The 5-year figure is 0.68, and annualized covariance runs at 211.4 %².
Among the 250 assets we track against RSP, WY ranks #91 by 3-year correlation. Correlation aside, the last 12 months split them widely, with RSP ahead by 25.3 points (+19.2% versus -6.1%). Across three years, the rolling one-year figure varied moderately, from 0.46 to 0.84. One caveat on sizing: WY is 1.9 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 WY: side by side
| RSP (Invesco S&P 500 Equal Weight ETF) | WY (Weyerhaeuser) | |
|---|---|---|
| 1-year return | +19.2% | -6.1% |
| 5-year return | +53.9% | -19.5% |
| Volatility (ann.) | 13.2% | 24.8% |
| Beta vs S&P 500 | 0.77 | 0.64 |
| Max drawdown (3Y) | -17.8% | -38.0% |
| Market cap | – | $17.1B |
| P/E (trailing) | – | 36.5 |
| Dividend yield | 1.49% | 3.49% |
| Expense ratio | 0.20% | – |
| Assets under management | $97.3B | – |
| Sector / category | ETF · US Large Cap | Real Estate |
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 | WY |
|---|---|---|
| 2022 | -11.6% | -20.4% |
| 2023 | +13.7% | +18.0% |
| 2024 | +12.8% | -16.6% |
| 2025 | +11.2% | -13.0% |
| 2026 | +16.5% | +1.8% |
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 WY itself, so the fund partly moves with the stock by construction.
Are RSP and WY good diversifiers for each other?
To a limited degree. At 0.65 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 WY?
As of 2026-08-27, the correlation of weekly returns between RSP and WY is 0.65 over 3 years, 0.42 over 1 year and 0.68 over 5 years.
Is WY a good diversifier for RSP?
To a limited degree. At 0.65 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 0.65 mean?
A reading of 0.65 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-wy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/rsp-vs-wy/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: RSP correlations · WY correlations
