CMCO vs IWM: Correlation
Columbus McKinnon Corporation (CMCO) and iShares Russell 2000 ETF (IWM) show a moderate relationship: their 3-year correlation of weekly returns is 0.59.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMCO and IWM?
Across a 3-year window, the weekly returns of CMCO and IWM correlate at 0.59, moderate. Recent behaviour matches the longer record: 0.61 over 1 year against 0.59 over 3. Stretching to 5 years gives 0.62, with an annualized covariance of 582.7 %².
By 3-year correlation, IWM places #5 of the 15 assets tracked against CMCO. The trailing year gives IWM the advantage: +23.3% versus +28.4%, a 5.1-point spread. Note the risk asymmetry: CMCO runs 2.5 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.
CMCO vs IWM: side by side
| CMCO (Columbus McKinnon Corporation) | IWM (iShares Russell 2000 ETF) | |
|---|---|---|
| 1-year return | +23.3% | +28.4% |
| 5-year return | -58.0% | +41.5% |
| Volatility (ann.) | 50.1% | 19.8% |
| Beta vs S&P 500 | 1.42 | 1.06 |
| Max drawdown (3Y) | -72.8% | -27.5% |
| Market cap | $0.5B | – |
| P/E (trailing) | – | – |
| Dividend yield | 1.56% | 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 | CMCO | IWM |
|---|---|---|
| 2022 | -29.3% | -20.5% |
| 2023 | +21.1% | +16.8% |
| 2024 | -3.9% | +11.4% |
| 2025 | -52.9% | +12.7% |
| 2026 | +7.8% | +22.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMCO and IWM good diversifiers for each other?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CMCO and IWM?
The CMCO/IWM correlation stands at 0.59 on a 3-year window (1 year: 0.61, 5 years: 0.62), computed from weekly returns as of 2026-08-27.
Is IWM a good diversifier for CMCO?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.59 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/cmco-vs-iwm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cmco-vs-iwm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CMCO correlations · IWM correlations
