CLAR vs IWM: Correlation
Clarus Corporation (CLAR) and iShares Russell 2000 ETF (IWM) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLAR and IWM?
On 3 years of weekly data the CLAR/IWM correlation comes out at 0.52, moderate. Recent behaviour matches the longer record: 0.56 over 1 year against 0.52 over 3. The 5-year figure is 0.51, and annualized covariance runs at 457.0 %².
In CLAR's tracked universe of 11 assets, IWM sits right near the top at #1. Correlation aside, the last 12 months split them widely, with IWM ahead by 23.1 points (+5.3% versus +28.4%). One caveat on sizing: CLAR is 2.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CLAR vs IWM: side by side
| CLAR (Clarus Corporation) | IWM (iShares Russell 2000 ETF) | |
|---|---|---|
| 1-year return | +5.3% | +28.4% |
| 5-year return | -85.0% | +41.5% |
| Volatility (ann.) | 44.2% | 19.8% |
| Beta vs S&P 500 | 1.03 | 1.06 |
| Max drawdown (3Y) | -64.4% | -27.5% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 2.68% | 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 | CLAR | IWM |
|---|---|---|
| 2022 | -71.5% | -20.5% |
| 2023 | -10.8% | +16.8% |
| 2024 | -33.4% | +11.4% |
| 2025 | -23.6% | +12.7% |
| 2026 | +15.1% | +22.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLAR and IWM good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CLAR and IWM?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.56 over the last year and 0.51 over 5 years.
Is IWM a good diversifier for CLAR?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 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/clar-vs-iwm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/clar-vs-iwm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CLAR correlations · IWM correlations
