AVNT vs IWM: Correlation
How closely do Avient Corporation (AVNT) and iShares Russell 2000 ETF (IWM) trade together? Their weekly returns over three years give a correlation of 0.71, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVNT and IWM?
On 3 years of weekly data the AVNT/IWM correlation comes out at 0.71, strong. The relationship has been stable: the 1-year correlation (0.62) sits close to the 3-year figure. The 5-year figure is 0.71, and annualized covariance runs at 522.9 %².
Among the 35 assets we track against AVNT, IWM ranks #4 by 3-year correlation. Over the last 12 months IWM came out ahead by 6.7 percentage points (+21.7% against +28.4%). Note the risk asymmetry: AVNT runs 1.9 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.
AVNT vs IWM: side by side
| AVNT (Avient Corporation) | IWM (iShares Russell 2000 ETF) | |
|---|---|---|
| 1-year return | +21.7% | +28.4% |
| 5-year return | -3.6% | +41.5% |
| Volatility (ann.) | 36.9% | 19.8% |
| Beta vs S&P 500 | 1.33 | 1.06 |
| Max drawdown (3Y) | -46.9% | -27.5% |
| Market cap | $4.1B | – |
| P/E (trailing) | 23.9 | – |
| Dividend yield | 2.45% | 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 | AVNT | IWM |
|---|---|---|
| 2022 | -38.2% | -20.5% |
| 2023 | +26.4% | +16.8% |
| 2024 | +0.6% | +11.4% |
| 2025 | -21.2% | +12.7% |
| 2026 | +43.9% | +22.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that IWM holds AVNT at a 0.13% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are AVNT and IWM good diversifiers for each other?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AVNT and IWM?
The AVNT/IWM correlation stands at 0.71 on a 3-year window (1 year: 0.62, 5 years: 0.71), computed from weekly returns as of 2026-08-27.
Is IWM a good diversifier for AVNT?
Somewhat, no more. With 0.71 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.71 mean?
On the −1 to +1 scale, 0.71 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/avnt-vs-iwm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/avnt-vs-iwm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AVNT correlations · IWM correlations
