CTRN vs IWM: Correlation
Measured on weekly returns over the past three years, Citi Trends, Inc. (CTRN) and iShares Russell 2000 ETF (IWM) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CTRN and IWM?
On 3 years of weekly data the CTRN/IWM correlation comes out at 0.45, moderate. The relationship has been stable: the 1-year correlation (0.45) sits close to the 3-year figure. The 5-year figure is 0.48, and annualized covariance runs at 476.4 %².
IWM is one of the assets that tracks CTRN most closely: it ranks #3 out of the 13 assets we track against CTRN. Correlation aside, the last 12 months split them widely, with CTRN ahead by 58.3 points (+86.7% versus +28.4%). Note the risk asymmetry: CTRN runs 2.7 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.
CTRN vs IWM: side by side
| CTRN (Citi Trends, Inc.) | IWM (iShares Russell 2000 ETF) | |
|---|---|---|
| 1-year return | +86.7% | +28.4% |
| 5-year return | -19.6% | +41.5% |
| Volatility (ann.) | 52.8% | 19.8% |
| Beta vs S&P 500 | 1.41 | 1.06 |
| Max drawdown (3Y) | -57.0% | -27.5% |
| Market cap | $0.6B | – |
| P/E (trailing) | 79.8 | – |
| 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 | CTRN | IWM |
|---|---|---|
| 2022 | -72.1% | -20.5% |
| 2023 | +6.8% | +16.8% |
| 2024 | -7.2% | +11.4% |
| 2025 | +58.3% | +12.7% |
| 2026 | +65.2% | +22.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CTRN and IWM good diversifiers for each other?
Reasonably. At 0.45, CTRN and IWM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CTRN and IWM?
As of 2026-08-27, the correlation of weekly returns between CTRN and IWM is 0.45 over 3 years, 0.45 over 1 year and 0.48 over 5 years.
Is IWM a good diversifier for CTRN?
Reasonably. At 0.45, CTRN and IWM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 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/ctrn-vs-iwm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ctrn-vs-iwm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CTRN correlations · IWM correlations
