BN vs IWM: Correlation
Brookfield Corporation Class A Limited Voting Shares (BN) and iShares Russell 2000 ETF (IWM) show a strong relationship: their 3-year correlation of weekly returns is 0.78.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BN and IWM?
Over the past 3 years, BN and IWM moved with a correlation of 0.78, which is strong. Little has changed lately, as the 1-year reading of 0.69 lands near the 3-year figure. Over 5 years the correlation is 0.79, and the annualized covariance of weekly returns is 447.2 %².
By 3-year correlation, IWM places #4 of the 32 assets tracked against BN. Their recent paths diverged sharply: over the last 12 months IWM outperformed by 32.9 percentage points (-4.5% for BN against +28.4% for IWM).
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.
BN vs IWM: side by side
| BN (Brookfield Corporation Class A Limited Voting Shares) | IWM (iShares Russell 2000 ETF) | |
|---|---|---|
| 1-year return | -4.5% | +28.4% |
| 5-year return | +42.1% | +41.5% |
| Volatility (ann.) | 28.8% | 19.8% |
| Beta vs S&P 500 | 1.47 | 1.06 |
| Max drawdown (3Y) | -27.8% | -27.5% |
| Market cap | $92.5B | – |
| P/E (trailing) | 76.7 | – |
| Dividend yield | 0.62% | 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 | BN | IWM |
|---|---|---|
| 2022 | -34.6% | -20.5% |
| 2023 | +28.6% | +16.8% |
| 2024 | +44.2% | +11.4% |
| 2025 | +20.5% | +12.7% |
| 2026 | -9.4% | +22.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BN and IWM good diversifiers for each other?
Somewhat, no more. With 0.78 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between BN and IWM?
The BN/IWM correlation stands at 0.78 on a 3-year window (1 year: 0.69, 5 years: 0.79), computed from weekly returns as of 2026-08-27.
Is IWM a good diversifier for BN?
Somewhat, no more. With 0.78 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.78 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/bn-vs-iwm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bn-vs-iwm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BN correlations · IWM correlations
