IEX vs IWM: Correlation
IDEX Corporation (IEX) and iShares Russell 2000 ETF (IWM) show a strong relationship: their 3-year correlation of weekly returns is 0.67.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IEX and IWM?
Over the past 3 years, IEX and IWM moved with a correlation of 0.67, which is strong. The relationship has been stable: the 1-year correlation (0.60) sits close to the 3-year figure. Over 5 years the correlation is 0.66, and the annualized covariance of weekly returns is 310.7 %².
Among the 40 assets we track against IEX, IWM ranks #11 by 3-year correlation. The trailing year gives IEX the advantage: +43.0% versus +28.4%, a 14.6-point spread. The link looks structural: the rolling one-year correlation barely moved, holding between 0.60 and 0.76.
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.
IEX vs IWM: side by side
| IEX (IDEX Corporation) | IWM (iShares Russell 2000 ETF) | |
|---|---|---|
| 1-year return | +43.0% | +28.4% |
| 5-year return | +10.5% | +41.5% |
| Volatility (ann.) | 23.3% | 19.8% |
| Beta vs S&P 500 | 0.89 | 1.06 |
| Max drawdown (3Y) | -34.6% | -27.5% |
| Market cap | $17.2B | – |
| P/E (trailing) | 33.8 | – |
| Dividend yield | 1.23% | 0.91% |
| Expense ratio | – | 0.19% |
| Assets under management | – | $80.1B |
| Sector / category | Industrials | 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 | IEX | IWM |
|---|---|---|
| 2022 | -2.2% | -20.5% |
| 2023 | -3.8% | +16.8% |
| 2024 | -2.4% | +11.4% |
| 2025 | -13.7% | +12.7% |
| 2026 | +32.9% | +22.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IEX and IWM good diversifiers for each other?
Only partially. A correlation of 0.67 means IEX 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 IEX and IWM?
As of 2026-08-27, the correlation of weekly returns between IEX and IWM is 0.67 over 3 years, 0.60 over 1 year and 0.66 over 5 years.
Is IWM a good diversifier for IEX?
Only partially. A correlation of 0.67 means IEX 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 0.67 mean?
On the −1 to +1 scale, 0.67 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/iex-vs-iwm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iex-vs-iwm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IEX correlations · IWM correlations
