HAPN vs IWM: Correlation
Happen, Inc. (HAPN) 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 HAPN and IWM?
On 3 years of weekly data the HAPN/IWM correlation comes out at 0.60, strong. The relationship has been stable: the 1-year correlation (0.59) sits close to the 3-year figure. The 5-year figure is 0.61, and annualized covariance runs at 613.9 %².
Few assets follow HAPN as closely as IWM, which ranks #2 of 15 tracked partners. Correlation aside, the last 12 months split them widely, with IWM ahead by 18.7 points (+9.7% versus +28.4%). Note the risk asymmetry: HAPN runs 2.6 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.
HAPN vs IWM: side by side
| HAPN (Happen, Inc.) | IWM (iShares Russell 2000 ETF) | |
|---|---|---|
| 1-year return | +9.7% | +28.4% |
| 5-year return | -35.2% | +41.5% |
| Volatility (ann.) | 51.5% | 19.8% |
| Beta vs S&P 500 | 1.56 | 1.06 |
| Max drawdown (3Y) | -52.2% | -27.5% |
| Market cap | $2.1B | – |
| P/E (trailing) | 11.0 | – |
| 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 | HAPN | IWM |
|---|---|---|
| 2022 | -63.6% | -20.5% |
| 2023 | -0.7% | +16.8% |
| 2024 | +85.2% | +11.4% |
| 2025 | +17.0% | +12.7% |
| 2026 | -2.6% | +22.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
HAPN represents 0.07% of IWM's portfolio, so part of any move in IWM is HAPN itself, and the correlation between them is partly mechanical.
Are HAPN and IWM good diversifiers for each other?
Only partially. A correlation of 0.60 means HAPN 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 HAPN and IWM?
The HAPN/IWM correlation stands at 0.60 on a 3-year window (1 year: 0.59, 5 years: 0.61), computed from weekly returns as of 2026-08-27.
Is IWM a good diversifier for HAPN?
Only partially. A correlation of 0.60 means HAPN 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/hapn-vs-iwm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hapn-vs-iwm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HAPN correlations · IWM correlations
