How Can I Beat the S&P 500? What the Evidence Says
The honest answer to the most asked question in investing: how many people beat the index, why it is so hard, why investors trail even their own funds, and how daily market context fits in.
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RS Stock vs the S&P 500: Returns, Risk and Crash History
Reliance, Inc., basic materials (market value $22.6 billion): how it compared with the S&P 500, how it behaved in every crash since 2008, its risk‑adjusted returns and what analysts said. Returns to Oct 30, 2026; analyst data as of Nov 9, 2026.
What changed since Nov 2
Exent re-checks this page every day. Ratings appear 30 days after they are published; the top‑ranked analysts’ calls are not counted here, they are in Gems.
4 4★+ analysts covering (was 3)
Key takeaways
- RS returned +223.7% over the 5 years to Oct 30, 2026 versus +75.9% for the S&P 500: it beat the index.
- Its 5-year Sharpe ratio was 0.84 against 0.58 for the S&P 500.
- Its deepest crisis drawdown was −83.8% in the global financial crisis (2007–09) (S&P 500: −56.5%).
- Five‑year volatility was 27.9% and beta 0.95.
- 9 analysts rated it in the past year; 22% of their latest calls were Buy.
- RS beat earnings estimates in 4 of its last 12 reports; the stock moved 4.0% on average, up or down, around each report.
What do the best‑ranked analysts on RS say now? See it in Exent Gems →
In this article
- Did RS beat the S&P 500?
- What Wall Street analysts say about RS
- RS returns by year vs the S&P 500
- RS risk-adjusted returns: Sharpe, Sortino and volatility
- How RS behaved in past crashes
- What moves with RS, and what doesn’t
- Latest RS upgrades, downgrades and price‑target changes
- Do analysts get RS right?
- How RS moves after earnings
- Where RS’s revenue comes from
- Members of Congress who traded RS
- Are RS insiders buying or selling?
- How much of RS is sold short?
- How many institutions own RS?
- Is RS diluting shareholders?
- RS financial health scores
- Which ETFs hold RS?
- Does RS get federal contracts?
- The right benchmark for RS
- Other basic materials stocks
- Data and methodology
Did RS beat the S&P 500?
Over the 5 years to Oct 30, 2026, Reliance, Inc. (RS) returned +223.7% including dividends, versus +75.9% for the S&P 500 (SPY). It beat the index by 147.8 percentage points, or +26.5% a year against +12.0%.
| Period | RS | S&P 500 | RS per year | S&P 500 per year | Result |
|---|---|---|---|---|---|
| 1 year | +57.0% | +12.0% | +57.0% | +12.0% | Beat |
| 3 years | +79.7% | +87.4% | +21.6% | +23.3% | Lagged |
| 5 years | +223.7% | +75.9% | +26.5% | +12.0% | Beat |
| 10 years | +670.0% | +316.3% | +22.6% | +15.3% | Beat |
- 1 year
- RS
- +57.0%
- S&P 500
- +12.0%
- RS per year
- +57.0%
- S&P 500 per year
- +12.0%
- Result
- Beat
- 3 years
- RS
- +79.7%
- S&P 500
- +87.4%
- RS per year
- +21.6%
- S&P 500 per year
- +23.3%
- Result
- Lagged
- 5 years
- RS
- +223.7%
- S&P 500
- +75.9%
- RS per year
- +26.5%
- S&P 500 per year
- +12.0%
- Result
- Beat
- 10 years
- RS
- +670.0%
- S&P 500
- +316.3%
- RS per year
- +22.6%
- S&P 500 per year
- +15.3%
- Result
- Beat
Total return with dividends reinvested, from month-end prices to Oct 30, 2026. Beating the index on raw return is only half the story: the next section adjusts for the risk taken. See also how to beat the S&P 500.
What Wall Street analysts say about RS
In the 12 months to 30 days ago, 9 analysts published 75 ratings on RS. Their latest calls were 22% Buy, 67% Hold and 11% Sell. 4 of them rank 4★ or higher in Exent’s analyst scoring, which is based on each analyst’s past price‑target hit rate and returns.
The consensus 12‑month price target was $434.00 (range $420.00–$445.00), +1.6% from the last price. Remember that the average analyst’s target is hit only about half the time: how accurate are price targets?
| Top‑ranked analyst covering | Firm | Stars | Price‑target hit rate |
|---|---|---|---|
| ??? | ??? | 4.8★ | 66.4% |
| Alexander Hacking | Citi | 4.8★ | 72.7% |
| Katja Jancic | BMO Capital | 4.8★ | 75.5% |
| Bennett Moore | J.P. Morgan | 4.0★ | 100.0% |
Ratings are shown with a 30‑day delay. Who the top‑ranked analysts on RS are, their live calls and the median target of only the top‑rated analysts are in Exent Gems.
The average analyst’s target is reached about 53.1% of the time; Exent Gems is built on the top 50 of Exent’s ranking,where some reached 90% or more over the last two years. Unlock the top 50 analysts.
RS returns by year vs the S&P 500
RS beat the S&P 500 in 4 of the 9 full calendar years shown.
| Year | RS | S&P 500 | Difference |
|---|---|---|---|
| 2026 (to Oct 30, 2026) | +52.8% | +11.7% | +41.1% |
| 2025 | +9.1% | +17.7% | −8.6% |
| 2024 | −2.3% | +24.9% | −27.2% |
| 2023 | +40.3% | +26.2% | +14.1% |
| 2022 | +27.1% | −18.2% | +45.3% |
| 2021 | +37.8% | +28.7% | +9.1% |
| 2020 | +2.4% | +18.3% | −15.9% |
| 2019 | +72.2% | +31.2% | +41.0% |
| 2018 | −15.1% | −4.6% | −10.5% |
| 2017 | +10.5% | +21.7% | −11.2% |
RS risk-adjusted returns: Sharpe, Sortino and volatility
Over 5 years, RS had a Sharpe ratio of 0.84 against 0.58 for the S&P 500, so it earned more return per unit of risk than the index. Its annualized volatility was 28.5% and its beta 0.95: it tended to move about 0.9× as much as the market.
| Metric | RS | S&P 500 |
|---|---|---|
| Annual return | +26.5% | +12.0% |
| Volatility (annualized) | 28.5% | 15.5% |
| Sharpe ratio | 0.84 | 0.58 |
| Sortino ratio | 1.57 | 0.91 |
| Max drawdown (month-end) | −18.5% | −23.9% |
| Beta to the S&P 500 | 0.95 | 1.00 |
How RS behaved in past crashes
RS’s deepest fall in the crises below was −83.8% in the global financial crisis (2007–09), against −56.5% for the S&P 500. The last column turns that into money: what a $100,000 position would have lost from peak to trough.
| Crisis | RS | S&P 500 | Loss on $100,000 |
|---|---|---|---|
| Global financial crisis (2007–09) | −83.8% | −56.5% | −$83,830 |
| 2018 trade-war selloff | −20.9% | −20.2% | −$20,860 |
| COVID crash (Feb–Mar 2020) | −39.1% | −34.1% | −$39,060 |
| 2022 inflation bear market | −22.7% | −25.4% | −$22,680 |
| 2025 tariff selloff | −13.4% | −19.0% | −$13,410 |
| Window | RS max drawdown |
|---|---|
| Last 1 year | −22.3% |
| Last 3 years | −22.3% |
| Last 5 years | −22.3% |
| Last 10 years | −41.2% |
Peak‑to‑trough declines from daily prices inside each crisis window. A crash replay does not predict the next crisis; it shows how much room a holding needs. Run the same replay on a whole portfolio with the crash test.
What moves with RS, and what doesn’t
Correlation runs from −1 (moves opposite) to +1 (moves in lockstep). Over the last 60 months of monthly returns, RS’s correlation with the S&P 500 was 0.52, with the Nasdaq‑100 0.35, with long Treasuries (TLT) 0.27 and with gold (GLD) 0.05.
Adding a 5% RS position to an S&P 500 portfolio would have moved its 5‑year volatility from 15.5% to 15.5%.
| Least correlated large caps | Correlation | Most correlated large caps | Correlation |
|---|---|---|---|
| MRK | −0.04 | MAR | 0.59 |
| MRNA | −0.03 | AXP | 0.54 |
| NOW | 0.00 | EMR | 0.53 |
| PLTR | 0.00 | LOW | 0.52 |
| NEM | 0.03 | HWM | 0.51 |
Holdings that are highly correlated behave like one position in a selloff. See how to find hidden overlap.
Latest RS upgrades, downgrades and price‑target changes
| Date | Rating and target | Analyst |
|---|---|---|
| Nov 6 | Target raised Hold | Alexander Hacking |
| Oct 28 | Target raised Hold | Bennett Moore |
| Oct 9 | Target raised Hold | Bill Peterson |
| Oct 5 | Target raised Buy | Samuel McKinney |
| Oct 5 | Target raised Hold | Nick Cash |
| Sep 9 | Target cut Hold | Bennett Moore |
| Sep 9 | Target cut Hold | Bill Peterson |
Named analysts’ rating and price‑target changes on RS in the 5 weeks to Oct 12, 2026, shown 30 days after publication (the free analysts’ calls 3 days after). The top‑ranked analysts’ calls are in Exent Gems. See all of the latest analyst upgrades and downgrades.
Do analysts get RS right?
Of the 58 analyst price targets on RS set from 2019 until a year ago, 84.5% were reached within 12 months (data to Oct 20, 2026), 15.9 points above the 68.6% hit rate of the median stock in Exent’s study of 794 stocks. Targets that were reached took a median of 111 days. The median target sat 12.4% above the share price on the day it was set.
Where analysts said RS would be by now: a year ago, 3 analysts had a price target on RS, and the median of their latest targets was $305.00. On Oct 20, 2026 RS closed at $417.23, 36.8% above it.
84.5%of targets reached within 12 monthsMedian stock: 68.6%
111 daysmedian time to reach a target
+36.8%price now vs the median target set a year ago
| After | Calls | Move on the call | 3 months vs S&P 500 |
|---|---|---|---|
| Upgrades of RS | 5 | +0.8% | +9.8% |
| Upgrades, all stocks | 11,514 | +2.5% | +3.4% |
| Downgrades of RS | 7 | −2.2% | −2.8% |
| Downgrades, all stocks | 10,700 | −3.0% | −1.6% |
The move on the call runs from the close before the rating change to the close after it; the last column is the stock’s return minus the S&P 500’s over the next three months. Averages of rating changes on RS through Sep 15, 2026; analysts are not named here. Do analyst upgrades move stocks?
How RS moves after earnings
RS beat the consensus earnings‑per‑share estimate in 4 of its last 12 quarterly reports, through the one on Jul 22, 2026, and the revenue estimate in 10 of 12. From the close before each report to the close after it, the stock moved 4.0% on average, up or down, against 6.8% for the average report across the 1,002 US stocks Exent tracks. It rose after 8 of the 12 reports. It never fell after beating the estimate.
4/12earnings beats
±4.0%average move per report
8/12reports followed by a rise
| Report | EPS vs estimate | Revenue vs estimate | Stock move |
|---|---|---|---|
| Jul 22, 2026 | $6.27 vs $5.47 | +8.7% | +3.1% |
| Apr 22, 2026 | $5.16 vs $4.63 | +3.5% | +2.5% |
| Feb 18, 2026 | $2.40 vs $2.83 | +1.5% | −3.8% |
| Oct 22, 2025 | $3.64 vs $3.68 | +6.0% | −1.8% |
| Jul 23, 2025 | $4.43 vs $4.68 | +0.0% | −11.4% |
| Apr 23, 2025 | $3.77 vs $3.64 | +1.4% | +1.8% |
| Feb 19, 2025 | $2.22 vs $2.74 | +2.3% | +1.1% |
| Oct 24, 2024 | $3.64 vs $3.66 | +10.6% | +0.3% |
Reported earnings per share against the consensus estimate, revenue surprise in percent, and the stock’s price change over the two sessions around the report. How stocks move after earnings
Where RS’s revenue comes from
In fiscal 2023 (the year to Dec 31, 2023), RS’s largest reported region was the United States, with 93.1% of its $14.8 billion revenue. By region: United States 93.1%; Foreign Countries 6.9%.
By business, the largest segment was Carbon steel, with 62.6% of $12.6 billion revenue (+4.3% on the year before).
| Segment | Revenue | Share | Growth |
|---|---|---|---|
| Carbon steel | $7.9 billion | 62.6% | +4.3% |
| Aluminum | $2.5 billion | 19.6% | +7.7% |
| Stainless steel | $1.9 billion | 15.4% | −5.8% |
| Other and eliminations | $305.6 million | 2.4% | −5.6% |
From RS’s annual filings; segment growth compares fiscal 2025 with the year before. Regions are as each company reports them, so one company’s “Asia Pacific” is not another’s. China counts the regions a company reports as China, Greater China or Hong Kong; a separately reported Taiwan is not counted. Which S&P 500 companies depend most on China?
Members of Congress who traded RS
As of Oct 20, 2026, 3 members of Congress had disclosed 17 trades in RS (2 buys and 15 sales) in STOCK Act disclosures filed with the House and Senate. The latest public trade is dated Sep 25, 2025.
| Trade date | Member | Type | Amount |
|---|---|---|---|
| Sep 25, 2025 | Lisa McClain | Sale | $1,001–$15,000 |
| Aug 4, 2025 | Lisa McClain | Buy | $1,001–$15,000 |
| Jun 24, 2025 | Lisa McClain | Sale | $1,001–$15,000 |
| Jun 17, 2025 | Lisa McClain | Buy | $1,001–$15,000 |
| Apr 7, 2025 | Julie Johnson | Sale | $1,001–$15,000 |
| May 24, 2022 | Michael McCaul | Sale | $1,001–$15,000 |
| May 24, 2022 | Michael McCaul | Sale | $50,001–$100,000 |
| May 23, 2022 | Michael McCaul | Sale | $50,001–$100,000 |
| May 23, 2022 | Michael McCaul | Sale | $15,001–$50,000 |
| May 20, 2022 | Michael McCaul | Sale | $50,001–$100,000 |
Amounts are the ranges members report, not exact values. The STOCK Act gives members up to 45 days to disclose a trade, so trades appear weeks after they are made. See every member’s disclosed trades
Are RS insiders buying or selling?
In the 12 months to Oct 20, 2026, RS insiders made no open‑market purchases and 17 sales worth $16.0 million, according to SEC Form 4 filings. The last open‑market purchase on record was on Feb 23, 2010.
| Date | Insider | Role | Value |
|---|---|---|---|
| Feb 23, 2010 | Johnson Franklin R | Director | $86,080 |
| Nov 21, 2008 | Kaminski Mark V | Director | $25,118 |
| Nov 19, 2008 | Hayes Douglas M | Director | $3,232 |
| Oct 31, 2008 | Sharkey Andrew G III | Director | $71,760 |
| Oct 24, 2008 | Kaminski Mark V | Director | $97,750 |
The table lists the latest open‑market purchases on record, leaving out the last 30 days. The chart counts Form 4 purchases and sales by calendar quarter. Purchases are open‑market buys; sales include planned sales under 10b5‑1 trading plans. Do insider buys beat the market?
How much of RS is sold short?
As of the Sep 30, 2026 settlement date, 2.49% of RS’s float was sold short: 1.3 million shares, or 4.2 days of average trading volume to cover. A year earlier (Oct 15, 2025) it was 1.96%. The median across the 997 US stocks Exent tracks was 4.77%, so RS is less heavily shorted than most.
From FINRA short‑interest reports, filed twice a month; the bars show the short share of the float at each month‑end. Days to cover divides the shares short by the average daily volume. The most shorted stocks
How many institutions own RS?
At the end of Q2 2026 (Jun 30, 2026), 699 institutions reported holding RS in 13F filings, up 44 from the quarter before and up from 638 a year earlier. Their reported holdings add up to 82.6% of RS’s shares. In the quarter 344 institutions added to their positions and 234 cut them.
69913F holders
91new positions
47positions closed
82.6%of shares held by 13F filers
Investment managers with over $100 million in US equities file 13F reports within 45 days of each quarter end, so this is the latest complete quarter. Holdings can add up to more than 100% when shares are lent and counted twice. Which stocks institutions are buying and selling
Is RS diluting shareholders?
RS’s diluted share count fell 19.0% over the five fiscal years to fiscal 2025 and fell 6.0% in fiscal 2025 alone. Each share now owns a larger slice of the company. The median change across the 1,005 US stocks Exent tracks was −0.1%.
Stock‑based compensation was $55.6 million in fiscal 2025, 0.4% of revenue. RS spent $594.1 million buying back shares, a buyback yield of 3.00% of its market value; stock pay equaled 9.4% of the buybacks.
−6.0%share count, 1 year
−19.0%share count, 5 years
0.4%stock pay as % of revenue
3.00%buyback yield
Weighted‑average diluted shares from RS’s annual income statements; stock‑based compensation and buybacks from its cash‑flow statement. Stock dilution and stock‑based compensation, explained
RS financial health scores
In Exent’s Oct 20, 2026 snapshot, RS’s Altman Z‑score was 6.52, in the safe zone (where 465 of the 794 non‑financial US stocks Exent tracks sit). Its Piotroski F‑score was 6 out of 9; 62% of scored stocks reach 6 or more.
6.52Altman Z‑score: safe zone
6/9Piotroski F‑score
The Altman Z‑score combines five balance‑sheet and earnings ratios into one bankruptcy‑risk score: below 1.81 is the distress zone, 1.81–2.99 grey, above 2.99 safe. It is not meaningful for banks, insurers and REITs. The Piotroski F‑score counts nine yes/no tests of profitability, leverage and efficiency; 8–9 is strong, 0–2 weak. Both come from the latest annual statements. Which stocks have the highest bankruptcy risk?
Which ETFs hold RS?
As of Oct 20, 2026, 40 of the 304 ETFs Exent tracks held RS. Its largest weight is in XME (State Street SPDR S&P Metals & Mining ETF), at 5.86% of the fund.
| ETF | Fund | Weight of RS |
|---|---|---|
| XME | State Street SPDR S&P Metals & Mining ETF | 5.86% |
| PAVE | Global X U.S. Infrastructure Development ETF | 1.24% |
| IJH | iShares Core S&P Mid-Cap ETF | 0.63% |
| SPMD | State Street SPDR Portfolio S&P 400 Mid Cap ETF | 0.63% |
| MDY | State Street SPDR S&P MIDCAP 400 ETF Trust | 0.62% |
| VBR | Vanguard Small-Cap Value Index Fund ETF Shares | 0.45% |
| SCHM | Schwab U.S. Mid-Cap ETF | 0.44% |
| CLSE | Convergence Long/Short Equity ETF | 0.43% |
Owning several of these funds stacks the same position. How much do VOO, QQQ and VTI overlap?
Does RS get federal contracts?
In federal fiscal year 2026 (October 1, 2025 to September 30, 2026), US government agencies obligated $2.0 billion in contracts to Reliance, Inc. and its units, according to USAspending.gov.
| Fiscal year | Contract obligations |
|---|---|
| 2026 | $2.0 billion |
Contract obligations are what agencies committed in the year, not cash paid; every subsidiary and unit USAspending.gov lists under the parent company is rolled up into one total. Which companies get the most federal contracts?
The right benchmark for RS
Exent matches every holding to the index with the most similar risk. For RS that is SPY (the S&P 500). Comparing a holding with an index that carries very different risk makes good results look bad and risky ones look clever. Read why the S&P 500 is the wrong benchmark for most portfolios.
Other basic materials stocks
| Ticker | Name | 5‑year return | Volatility (5y) |
|---|---|---|---|
| SCCO | Southern Copper Corporation | +298.2% | 39.3% |
| NEM | Newmont Corporation | +126.5% | 37.8% |
| FCX | Freeport-McMoRan Inc. | +77.5% | 45.1% |
| ECL | Ecolab Inc. | +44.2% | 24.1% |
| SHW | The Sherwin-Williams Company | +9.9% | 26.1% |
| APD | Air Products and Chemicals, Inc. | +19.8% | 26.6% |
| NUE | Nucor Corporation | +163.8% | 37.7% |
| AU | AngloGold Ashanti plc | +394.7% | 50.1% |
Data and methodology
Returns are total returns from month‑end adjusted closing prices (dividends reinvested) through Oct 30, 2026. Crisis drawdowns and trailing maximum drawdowns use daily prices. Analyst coverage counts ratings published in the last 12 months, shown with a 30‑day delay. Full method: Exent methodology.
Company data as of Oct 20, 2026. The move around an earnings report runs from the close before it to the close after it; a price target counts as hit when the stock closed at or beyond it within 12 months (Exent analyst data). Revenue by region and segment, share counts and executive pay come from company filings; insider trades from SEC Form 4, short interest from FINRA, institutional ownership from 13F filings, Congress trades from STOCK Act disclosures filed with the House and Senate, federal contracts from USAspending.gov. Filings from the last 30 days are shown as counts only.
Past performance does not guarantee future results. Historical figures are calculated by Exent from market data and are for education only; they are not investment advice or a recommendation to buy or sell any security.
Check RS with Exent Gems
Wall Street’s average RS price target is 1.6% above the latest share price. See what the best‑ranked analysts on RS say now in Exent Gems.
- Exent ranks Wall Street analysts by their past price‑target hit rate and returns, and keeps the best‑ranked few.
- Gems shows who the top‑ranked analysts covering RS are, their live calls and the median target of only the top‑rated analysts.
- Gems flags the stocks where several top‑ranked analysts agree: a starting point for your own research, not a promise.
Frequently asked questions
Yes. RS returned +670.0% (+22.6% a year) over the 10 years to Oct 30, 2026, versus +316.3% (+15.3% a year) for the S&P 500, including dividends.
No. As of Oct 20, 2026, RS (Reliance, Inc.) is not one of the 503 stocks in the S&P 500.
RS fell −83.8% from peak to trough during the global financial crisis (2007–09), versus −56.5% for the S&P 500.
RS fell −39.1% from peak to trough during the covid crash (feb–mar 2020), versus −34.1% for the S&P 500.
RS fell −22.7% from peak to trough during the 2022 inflation bear market, versus −25.4% for the S&P 500.
Over the 5 years to Oct 30, 2026, RS’s Sharpe ratio was 0.84 and its Sortino ratio 1.57, versus 0.58 and 0.91 for the S&P 500.
RS’s 5‑year annualized volatility was 27.9%, higher than the S&P 500’s 17.0%, with a beta of 0.95.
Among large US stocks, the lowest correlations with RS over the last 60 months were MRK (−0.04), MRNA (−0.03), NOW (0.00). Its correlation with long Treasuries (TLT) was 0.27 and with gold (GLD) 0.05.
RS beat the consensus earnings-per-share estimate in 4 of its last 12 quarterly reports through Jul 22, 2026, and the revenue estimate in 10 of 12. The stock moved 4.0% on average, up or down, from the close before each report to the close after it.
Yes. As of Oct 20, 2026, 3 members of Congress had disclosed 17 trades in RS (2 buys and 15 sales) in STOCK Act disclosures filed with the House and Senate.
As of the Sep 30, 2026 settlement date, 2.49% of RS’s float was sold short (1.3 million shares, 4.2 days to cover), according to FINRA short-interest reports. A year earlier it was 1.96%.
No. RS’s diluted share count fell 19.0% over the five fiscal years to fiscal 2025 and fell 6.0% in the latest year. Stock-based compensation was 0.4% of revenue, and buybacks totaled $594.1 million.
What do the best‑ranked analysts say on RS now?
Exent ranks Wall Street analysts by their track record. Gems shows who the top‑ranked analysts on RS are, their latest calls and the stocks where several of them agree.
See this week’s GemsLimited offer$1.95 for full access· full access
Educational content, not investment advice. Examples are illustrative; past performance does not guarantee future results.