HVT vs IWM: Correlation
Haverty Furniture Companies, Inc. (HVT) and iShares Russell 2000 ETF (IWM) show a strong relationship: their 3-year correlation of weekly returns is 0.61.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HVT and IWM?
Over the past 3 years, HVT and IWM moved with a correlation of 0.61, which is strong. The relationship has been stable: the 1-year correlation (0.61) sits close to the 3-year figure. Over 5 years the correlation is 0.57, and the annualized covariance of weekly returns is 420.9 %².
Within HVT's tracked universe of 17 assets, IWM comes in at #4 by 3-year correlation. Their 12-month results are close: +26.5% for HVT against +28.4% for IWM. Note the risk asymmetry: HVT runs 1.8 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.
HVT vs IWM: side by side
| HVT (Haverty Furniture Companies, Inc.) | IWM (iShares Russell 2000 ETF) | |
|---|---|---|
| 1-year return | +26.5% | +28.4% |
| 5-year return | +8.2% | +41.5% |
| Volatility (ann.) | 34.8% | 19.8% |
| Beta vs S&P 500 | 1.02 | 1.06 |
| Max drawdown (3Y) | -50.1% | -27.5% |
| Market cap | $0.4B | – |
| P/E (trailing) | 19.7 | – |
| Dividend yield | 4.81% | 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 | HVT | IWM |
|---|---|---|
| 2022 | +4.8% | -20.5% |
| 2023 | +27.2% | +16.8% |
| 2024 | -34.4% | +11.4% |
| 2025 | +11.2% | +12.7% |
| 2026 | +22.2% | +22.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HVT and IWM good diversifiers for each other?
Only partially. A correlation of 0.61 means HVT 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 HVT and IWM?
As of 2026-08-27, the correlation of weekly returns between HVT and IWM is 0.61 over 3 years, 0.61 over 1 year and 0.57 over 5 years.
Is IWM a good diversifier for HVT?
Only partially. A correlation of 0.61 means HVT 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 0.61 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/hvt-vs-iwm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hvt-vs-iwm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HVT correlations · IWM correlations
