GOLF vs IWM: Correlation
Measured on weekly returns over the past three years, Acushnet Holdings Corp. (GOLF) and iShares Russell 2000 ETF (IWM) carry a correlation of 0.59, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GOLF and IWM?
Across a 3-year window, the weekly returns of GOLF and IWM correlate at 0.59, moderate. The link has loosened recently: the 1-year correlation (0.47) runs below the 3-year figure (0.59). Stretching to 5 years gives 0.60, with an annualized covariance of 342.8 %².
IWM is one of the assets that tracks GOLF most closely: it ranks #3 out of the 13 assets we track against GOLF. Their recent paths diverged sharply: over the last 12 months IWM outperformed by 18.3 percentage points (+10.1% for GOLF against +28.4% for IWM).
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.
GOLF vs IWM: side by side
| GOLF (Acushnet Holdings Corp.) | IWM (iShares Russell 2000 ETF) | |
|---|---|---|
| 1-year return | +10.1% | +28.4% |
| 5-year return | +77.9% | +41.5% |
| Volatility (ann.) | 29.1% | 19.8% |
| Beta vs S&P 500 | 0.77 | 1.06 |
| Max drawdown (3Y) | -28.3% | -27.5% |
| Market cap | $5.0B | – |
| P/E (trailing) | 23.6 | – |
| Dividend yield | 1.13% | 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 | GOLF | IWM |
|---|---|---|
| 2022 | -18.7% | -20.5% |
| 2023 | +51.0% | +16.8% |
| 2024 | +14.0% | +11.4% |
| 2025 | +13.7% | +12.7% |
| 2026 | +7.0% | +22.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.08% of IWM is GOLF itself, so the fund partly moves with the stock by construction.
Are GOLF 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 GOLF and IWM?
As of 2026-08-27, the correlation of weekly returns between GOLF and IWM is 0.59 over 3 years, 0.47 over 1 year and 0.60 over 5 years.
Is IWM a good diversifier for GOLF?
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?
On the −1 to +1 scale, 0.59 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/golf-vs-iwm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/golf-vs-iwm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GOLF correlations · IWM correlations
