RSP vs ZGN: Correlation
Measured on weekly returns over the past three years, Invesco S&P 500 Equal Weight ETF (RSP) and Ermenegildo Zegna N.V. (ZGN) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RSP and ZGN?
Across a 3-year window, the weekly returns of RSP and ZGN correlate at 0.49, moderate. The relationship has been stable: the 1-year correlation (0.54) sits close to the 3-year figure. Stretching to 5 years gives 0.38, with an annualized covariance of 282.2 %².
By 3-year correlation, ZGN places #204 of the 250 assets tracked against RSP. Their recent paths diverged sharply: over the last 12 months ZGN outperformed by 46.9 percentage points (+19.2% for RSP against +66.1% for ZGN). Note the risk asymmetry: ZGN runs 3.3 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 ZGN: side by side
| RSP (Invesco S&P 500 Equal Weight ETF) | ZGN (Ermenegildo Zegna N.V.) | |
|---|---|---|
| 1-year return | +19.2% | +66.1% |
| 5-year return | +53.9% | +34.1% |
| Volatility (ann.) | 13.2% | 43.6% |
| Beta vs S&P 500 | 0.77 | 1.27 |
| Max drawdown (3Y) | -17.8% | -59.0% |
| Market cap | – | $3.7B |
| P/E (trailing) | – | 31.0 |
| Dividend yield | 1.49% | 0.87% |
| 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 | ZGN |
|---|---|---|
| 2022 | -11.6% | +0.8% |
| 2023 | +13.7% | +11.5% |
| 2024 | +12.8% | -27.8% |
| 2025 | +11.2% | +26.0% |
| 2026 | +16.5% | +34.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RSP and ZGN good diversifiers for each other?
Reasonably. At 0.49, RSP and ZGN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between RSP and ZGN?
The RSP/ZGN correlation stands at 0.49 on a 3-year window (1 year: 0.54, 5 years: 0.38), computed from weekly returns as of 2026-08-27.
Is ZGN a good diversifier for RSP?
Reasonably. At 0.49, RSP and ZGN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 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-zgn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rsp-vs-zgn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: RSP correlations · ZGN correlations
