BX vs IWM: Correlation
Blackstone Inc. (BX) and iShares Russell 2000 ETF (IWM) show a strong relationship: their 3-year correlation of weekly returns is 0.65.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BX and IWM?
On 3 years of weekly data the BX/IWM correlation comes out at 0.65, strong. The link has loosened recently: the 1-year correlation (0.44) runs below the 3-year figure (0.65). The 5-year figure is 0.68, and annualized covariance runs at 434.9 %².
Within BX's tracked universe of 35 assets, IWM comes in at #11 by 3-year correlation. The last year tells two different stories: IWM led by 41.3 percentage points, -12.9% for BX against +28.4% for IWM. Across three years, the rolling one-year figure varied moderately, from 0.43 to 0.83. Note the risk asymmetry: BX runs 1.7 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.
BX vs IWM: side by side
| BX (Blackstone Inc.) | IWM (iShares Russell 2000 ETF) | |
|---|---|---|
| 1-year return | -12.9% | +28.4% |
| 5-year return | +37.5% | +41.5% |
| Volatility (ann.) | 34.0% | 19.8% |
| Beta vs S&P 500 | 1.36 | 1.06 |
| Max drawdown (3Y) | -46.5% | -27.5% |
| Market cap | $171.7B | – |
| P/E (trailing) | 32.1 | – |
| Dividend yield | 3.65% | 0.91% |
| Expense ratio | – | 0.19% |
| Assets under management | – | $80.1B |
| Sector / category | Financials | 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 | BX | IWM |
|---|---|---|
| 2022 | -40.0% | -20.5% |
| 2023 | +82.7% | +16.8% |
| 2024 | +35.1% | +11.4% |
| 2025 | -7.8% | +12.7% |
| 2026 | -3.9% | +22.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BX and IWM good diversifiers for each other?
Only partially. A correlation of 0.65 means BX and IWM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between BX and IWM?
As of 2026-08-27, the correlation of weekly returns between BX and IWM is 0.65 over 3 years, 0.44 over 1 year and 0.68 over 5 years.
Is IWM a good diversifier for BX?
Only partially. A correlation of 0.65 means BX and IWM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.65 mean?
On the −1 to +1 scale, 0.65 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/bx-vs-iwm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bx-vs-iwm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BX correlations · IWM correlations
