COOK vs IWM: Correlation
How closely do Traeger, Inc. (COOK) and iShares Russell 2000 ETF (IWM) trade together? Their weekly returns over three years give a correlation of 0.51, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COOK and IWM?
Across a 3-year window, the weekly returns of COOK and IWM correlate at 0.51, moderate. The relationship has been stable: the 1-year correlation (0.57) sits close to the 3-year figure. Stretching to 5 years gives 0.52, with an annualized covariance of 769.9 %².
Few assets follow COOK as closely as IWM, which ranks #1 of 11 tracked partners. Their recent paths diverged sharply: over the last 12 months IWM outperformed by 40.0 percentage points (-11.6% for COOK against +28.4% for IWM). One caveat on sizing: COOK is 3.8 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.
COOK vs IWM: side by side
| COOK (Traeger, Inc.) | IWM (iShares Russell 2000 ETF) | |
|---|---|---|
| 1-year return | -11.6% | +28.4% |
| 5-year return | -95.7% | +41.5% |
| Volatility (ann.) | 75.7% | 19.8% |
| Beta vs S&P 500 | 1.90 | 1.06 |
| Max drawdown (3Y) | -89.1% | -27.5% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 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 | COOK | IWM |
|---|---|---|
| 2022 | -76.8% | -20.5% |
| 2023 | -3.2% | +16.8% |
| 2024 | -12.5% | +11.4% |
| 2025 | -54.8% | +12.7% |
| 2026 | +3.2% | +22.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COOK and IWM good diversifiers for each other?
To a limited degree. At 0.51 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 COOK and IWM?
As of 2026-08-27, the correlation of weekly returns between COOK and IWM is 0.51 over 3 years, 0.57 over 1 year and 0.52 over 5 years.
Is IWM a good diversifier for COOK?
To a limited degree. At 0.51 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 0.51 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/cook-vs-iwm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cook-vs-iwm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: COOK correlations · IWM correlations
