RSP vs ZBRA: Correlation
Invesco S&P 500 Equal Weight ETF (RSP) and Zebra Technologies (ZBRA) show a strong relationship: their 3-year correlation of weekly returns is 0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RSP and ZBRA?
Across a 3-year window, the weekly returns of RSP and ZBRA correlate at 0.60, strong. Lately the two have drifted apart, with the 1-year correlation at 0.46 versus 0.60 over 3 years. Stretching to 5 years gives 0.66, with an annualized covariance of 321.3 %².
Among the 250 assets we track against RSP, ZBRA ranks #121 by 3-year correlation. The trailing year gives RSP the advantage: +19.2% versus +12.3%, a 6.9-point spread. Across three years, the rolling one-year figure varied moderately, from 0.40 to 0.80. Risk is not evenly split, since ZBRA carries 3.1 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 ZBRA: side by side
| RSP (Invesco S&P 500 Equal Weight ETF) | ZBRA (Zebra Technologies) | |
|---|---|---|
| 1-year return | +19.2% | +12.3% |
| 5-year return | +53.9% | -38.2% |
| Volatility (ann.) | 13.2% | 40.8% |
| Beta vs S&P 500 | 0.77 | 1.54 |
| Max drawdown (3Y) | -17.8% | -52.7% |
| Market cap | – | $17.1B |
| P/E (trailing) | – | 33.0 |
| Dividend yield | 1.49% | 0.00% |
| Expense ratio | 0.20% | – |
| Assets under management | $97.3B | – |
| Sector / category | ETF · US Large Cap | Information Technology |
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 | ZBRA |
|---|---|---|
| 2022 | -11.6% | -56.9% |
| 2023 | +13.7% | +6.6% |
| 2024 | +12.8% | +41.3% |
| 2025 | +11.2% | -37.1% |
| 2026 | +16.5% | +48.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
ZBRA represents 0.31% of RSP's portfolio, so part of any move in RSP is ZBRA itself, and the correlation between them is partly mechanical.
Are RSP and ZBRA good diversifiers for each other?
To a limited degree. At 0.60 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 ZBRA?
The RSP/ZBRA correlation stands at 0.60 on a 3-year window (1 year: 0.46, 5 years: 0.66), computed from weekly returns as of 2026-08-27.
Is ZBRA a good diversifier for RSP?
To a limited degree. At 0.60 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 0.60 mean?
On the −1 to +1 scale, 0.60 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-zbra.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rsp-vs-zbra/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: RSP correlations · ZBRA correlations
