GEF vs IWM: Correlation
Greif Inc. (GEF) and iShares Russell 2000 ETF (IWM) show a strong relationship: their 3-year correlation of weekly returns is 0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GEF and IWM?
On 3 years of weekly data the GEF/IWM correlation comes out at 0.60, strong. Lately the two have drifted apart, with the 1-year correlation at 0.43 versus 0.60 over 3 years. The 5-year figure is 0.59, and annualized covariance runs at 333.8 %².
Within GEF's tracked universe of 16 assets, IWM comes in at #4 by 3-year correlation. Neither side won the trailing year by much: +32.9% against +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.
GEF vs IWM: side by side
| GEF (Greif Inc.) | IWM (iShares Russell 2000 ETF) | |
|---|---|---|
| 1-year return | +32.9% | +28.4% |
| 5-year return | +58.9% | +41.5% |
| Volatility (ann.) | 27.9% | 19.8% |
| Beta vs S&P 500 | 0.71 | 1.06 |
| Max drawdown (3Y) | -30.8% | -27.5% |
| Market cap | $4.8B | – |
| P/E (trailing) | 34.9 | – |
| Dividend yield | 4.84% | 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 | GEF | IWM |
|---|---|---|
| 2022 | +14.5% | -20.5% |
| 2023 | +0.9% | +16.8% |
| 2024 | -3.6% | +11.4% |
| 2025 | +14.8% | +12.7% |
| 2026 | +27.0% | +22.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.07% of IWM is GEF itself, so the fund partly moves with the stock by construction.
Are GEF and IWM good diversifiers for each other?
Only partially. A correlation of 0.60 means GEF and IWM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between GEF and IWM?
As of 2026-08-27, the correlation of weekly returns between GEF and IWM is 0.60 over 3 years, 0.43 over 1 year and 0.59 over 5 years.
Is IWM a good diversifier for GEF?
Only partially. A correlation of 0.60 means GEF and IWM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.60 mean?
On the −1 to +1 scale, 0.60 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/gef-vs-iwm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gef-vs-iwm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GEF correlations · IWM correlations
