RSP vs XYL: Correlation
Invesco S&P 500 Equal Weight ETF (RSP) and Xylem Inc. (XYL) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RSP and XYL?
On 3 years of weekly data the RSP/XYL correlation comes out at 0.62, strong. The past 12 months show a weaker link (0.38) than the 3-year average (0.62). The 5-year figure is 0.66, and annualized covariance runs at 196.2 %².
Within RSP's tracked universe of 250 assets, XYL comes in at #114 by 3-year correlation. The last year tells two different stories: RSP led by 40.3 percentage points, +19.2% for RSP against -21.1% for XYL. The relationship is regime-dependent: the rolling one-year correlation swung between 0.21 and 0.83 over the past three years, so this pair behaves very differently depending on the market environment. Risk is not evenly split, since XYL carries 1.8 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 XYL: side by side
| RSP (Invesco S&P 500 Equal Weight ETF) | XYL (Xylem Inc.) | |
|---|---|---|
| 1-year return | +19.2% | -21.1% |
| 5-year return | +53.9% | -12.5% |
| Volatility (ann.) | 13.2% | 23.9% |
| Beta vs S&P 500 | 0.77 | 0.96 |
| Max drawdown (3Y) | -17.8% | -30.0% |
| Market cap | – | $26.3B |
| P/E (trailing) | – | 26.8 |
| Dividend yield | 1.49% | 1.47% |
| 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 | XYL |
|---|---|---|
| 2022 | -11.6% | -6.6% |
| 2023 | +13.7% | +4.8% |
| 2024 | +12.8% | +2.6% |
| 2025 | +11.2% | +18.8% |
| 2026 | +16.5% | -16.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.2% of RSP is XYL itself, so the fund partly moves with the stock by construction.
Are RSP and XYL good diversifiers for each other?
Only partially. A correlation of 0.62 means RSP and XYL 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 XYL?
The RSP/XYL correlation stands at 0.62 on a 3-year window (1 year: 0.38, 5 years: 0.66), computed from weekly returns as of 2026-08-27.
Is XYL a good diversifier for RSP?
Only partially. A correlation of 0.62 means RSP and XYL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.62 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-xyl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/rsp-vs-xyl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RSP correlations · XYL correlations
