GATX vs IWM: Correlation
GATX Corporation (GATX) and iShares Russell 2000 ETF (IWM) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GATX and IWM?
On 3 years of weekly data the GATX/IWM correlation comes out at 0.62, strong. Lately the two have drifted apart, with the 1-year correlation at 0.42 versus 0.62 over 3 years. The 5-year figure is 0.62, and annualized covariance runs at 298.6 %².
By 3-year correlation, IWM places #4 of the 10 assets tracked against GATX. Correlation aside, the last 12 months split them widely, with IWM ahead by 19.3 points (+9.1% versus +28.4%).
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.
GATX vs IWM: side by side
| GATX (GATX Corporation) | IWM (iShares Russell 2000 ETF) | |
|---|---|---|
| 1-year return | +9.1% | +28.4% |
| 5-year return | +112.2% | +41.5% |
| Volatility (ann.) | 24.2% | 19.8% |
| Beta vs S&P 500 | 0.78 | 1.06 |
| Max drawdown (3Y) | -18.1% | -27.5% |
| Market cap | $6.3B | – |
| P/E (trailing) | 17.7 | – |
| Dividend yield | 1.42% | 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 | GATX | IWM |
|---|---|---|
| 2022 | +4.2% | -20.5% |
| 2023 | +15.2% | +16.8% |
| 2024 | +31.1% | +11.4% |
| 2025 | +11.1% | +12.7% |
| 2026 | +6.0% | +22.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
GATX represents 0.2% of IWM's portfolio, so part of any move in IWM is GATX itself, and the correlation between them is partly mechanical.
Are GATX and IWM good diversifiers for each other?
To a limited degree. At 0.62 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 GATX and IWM?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.42 over the last year and 0.62 over 5 years.
Is IWM a good diversifier for GATX?
To a limited degree. At 0.62 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 0.62 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/gatx-vs-iwm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gatx-vs-iwm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GATX correlations · IWM correlations
