IRMD vs IWM: Correlation
Measured on weekly returns over the past three years, iRadimed Corporation (IRMD) and iShares Russell 2000 ETF (IWM) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IRMD and IWM?
Across a 3-year window, the weekly returns of IRMD and IWM correlate at 0.44, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.12 versus 0.44 over 3 years. Stretching to 5 years gives 0.40, with an annualized covariance of 268.9 %².
By 3-year correlation, IWM places #4 of the 13 assets tracked against IRMD. Over the last 12 months IWM came out ahead by 9.0 percentage points (+19.4% against +28.4%). Note the risk asymmetry: IRMD runs 1.6 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.
IRMD vs IWM: side by side
| IRMD (iRadimed Corporation) | IWM (iShares Russell 2000 ETF) | |
|---|---|---|
| 1-year return | +19.4% | +28.4% |
| 5-year return | +185.4% | +41.5% |
| Volatility (ann.) | 30.9% | 19.8% |
| Beta vs S&P 500 | 0.61 | 1.06 |
| Max drawdown (3Y) | -24.9% | -27.5% |
| Market cap | $1.1B | – |
| P/E (trailing) | 48.9 | – |
| Dividend yield | 0.88% | 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 | IRMD | IWM |
|---|---|---|
| 2022 | -37.5% | -20.5% |
| 2023 | +75.4% | +16.8% |
| 2024 | +17.0% | +11.4% |
| 2025 | +79.7% | +12.7% |
| 2026 | -10.0% | +22.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IRMD and IWM good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between IRMD and IWM?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.12 over the last year and 0.40 over 5 years.
Is IWM a good diversifier for IRMD?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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/irmd-vs-iwm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/irmd-vs-iwm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IRMD correlations · IWM correlations
