AIN vs IWM: Correlation
Albany International Corporation (AIN) and iShares Russell 2000 ETF (IWM) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIN and IWM?
Over the past 3 years, AIN and IWM moved with a correlation of 0.64, which is strong. The past 12 months show a weaker link (0.46) than the 3-year average (0.64). Over 5 years the correlation is 0.65, and the annualized covariance of weekly returns is 458.4 %².
Few assets follow AIN as closely as IWM, which ranks #1 of 20 tracked partners. Their recent paths diverged sharply: over the last 12 months IWM outperformed by 34.0 percentage points (-5.6% for AIN against +28.4% for IWM). Note the risk asymmetry: AIN runs 1.8 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.
AIN vs IWM: side by side
| AIN (Albany International Corporation) | IWM (iShares Russell 2000 ETF) | |
|---|---|---|
| 1-year return | -5.6% | +28.4% |
| 5-year return | -19.2% | +41.5% |
| Volatility (ann.) | 36.2% | 19.8% |
| Beta vs S&P 500 | 1.13 | 1.06 |
| Max drawdown (3Y) | -57.1% | -27.5% |
| Market cap | $1.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 1.88% | 0.91% |
| Expense ratio | – | 0.19% |
| Assets under management | – | $80.1B |
| Sector / category | US Listed | ETF · US Small & Mid Cap |
IWM, iShares's Small Blend fund, carries $80.1B under management, 1757 holdings, a 0.19% expense ratio, a 0.91% trailing dividend yield.
Year-by-year returns
| Year | AIN | IWM |
|---|---|---|
| 2022 | +12.6% | -20.5% |
| 2023 | +0.7% | +16.8% |
| 2024 | -17.6% | +11.4% |
| 2025 | -35.5% | +12.7% |
| 2026 | +17.9% | +22.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.05% of IWM is AIN itself, so the fund partly moves with the stock by construction.
Are AIN and IWM good diversifiers for each other?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AIN and IWM?
As of 2026-08-27, the correlation of weekly returns between AIN and IWM is 0.64 over 3 years, 0.46 over 1 year and 0.65 over 5 years.
Is IWM a good diversifier for AIN?
Somewhat, no more. With 0.64 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.64 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/ain-vs-iwm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ain-vs-iwm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AIN correlations · IWM correlations
