HIPO vs IWM: Correlation
Measured on weekly returns over the past three years, Hippo Holdings Inc. (HIPO) and iShares Russell 2000 ETF (IWM) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HIPO and IWM?
Across a 3-year window, the weekly returns of HIPO and IWM correlate at 0.50, moderate. Little has changed lately, as the 1-year reading of 0.50 lands near the 3-year figure. Stretching to 5 years gives 0.46, with an annualized covariance of 636.5 %².
In HIPO's tracked universe of 10 assets, IWM sits right near the top at #2. Their recent paths diverged sharply: over the last 12 months IWM outperformed by 31.6 percentage points (-3.2% for HIPO against +28.4% for IWM). Risk is not evenly split, since HIPO carries 3.2 times the volatility of the other side.
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.
HIPO vs IWM: side by side
| HIPO (Hippo Holdings Inc.) | IWM (iShares Russell 2000 ETF) | |
|---|---|---|
| 1-year return | -3.2% | +28.4% |
| 5-year return | -73.4% | +41.5% |
| Volatility (ann.) | 64.1% | 19.8% |
| Beta vs S&P 500 | 1.59 | 1.06 |
| Max drawdown (3Y) | -39.6% | -27.5% |
| Market cap | $0.9B | – |
| P/E (trailing) | 7.0 | – |
| 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 | HIPO | IWM |
|---|---|---|
| 2022 | -80.8% | -20.5% |
| 2023 | -32.9% | +16.8% |
| 2024 | +193.5% | +11.4% |
| 2025 | +12.4% | +12.7% |
| 2026 | +8.4% | +22.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HIPO and IWM good diversifiers for each other?
Only partially. A correlation of 0.50 means HIPO 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 HIPO and IWM?
The HIPO/IWM correlation stands at 0.50 on a 3-year window (1 year: 0.50, 5 years: 0.46), computed from weekly returns as of 2026-08-27.
Is IWM a good diversifier for HIPO?
Only partially. A correlation of 0.50 means HIPO 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 0.50 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/hipo-vs-iwm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hipo-vs-iwm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HIPO correlations · IWM correlations
