IWM vs KE: Correlation
Measured on weekly returns over the past three years, iShares Russell 2000 ETF (IWM) and Kimball Electronics, Inc. (KE) carry a correlation of 0.57, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IWM and KE?
Across a 3-year window, the weekly returns of IWM and KE correlate at 0.57, moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.57 over 3. Stretching to 5 years gives 0.56, with an annualized covariance of 473.0 %².
Among the 320 assets we track against IWM, KE ranks #151 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months IWM outperformed by 43.4 percentage points (+28.4% for IWM against -15.0% for KE). Risk is not evenly split, since KE carries 2.1 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.
IWM vs KE: side by side
| IWM (iShares Russell 2000 ETF) | KE (Kimball Electronics, Inc.) | |
|---|---|---|
| 1-year return | +28.4% | -15.0% |
| 5-year return | +41.5% | +0.6% |
| Volatility (ann.) | 19.8% | 42.0% |
| Beta vs S&P 500 | 1.06 | 1.22 |
| Max drawdown (3Y) | -27.5% | -58.5% |
| Market cap | – | $0.6B |
| P/E (trailing) | – | 21.3 |
| Dividend yield | 0.91% | 0.00% |
| Expense ratio | 0.19% | – |
| Assets under management | $80.1B | – |
| Sector / category | ETF · US Small & Mid Cap | US Listed |
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 | IWM | KE |
|---|---|---|
| 2022 | -20.5% | +3.8% |
| 2023 | +16.8% | +19.3% |
| 2024 | +11.4% | -30.5% |
| 2025 | +12.7% | +48.5% |
| 2026 | +22.3% | -13.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IWM and KE good diversifiers for each other?
Only partially. A correlation of 0.57 means IWM and KE 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 IWM and KE?
The IWM/KE correlation stands at 0.57 on a 3-year window (1 year: 0.50, 5 years: 0.56), computed from weekly returns as of 2026-08-27.
Is KE a good diversifier for IWM?
Only partially. A correlation of 0.57 means IWM and KE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.57 mean?
On the −1 to +1 scale, 0.57 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/iwm-vs-ke.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iwm-vs-ke/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IWM correlations · KE correlations
