IWM vs KFY: Correlation
iShares Russell 2000 ETF (IWM) and Korn Ferry (KFY) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IWM and KFY?
Across a 3-year window, the weekly returns of IWM and KFY correlate at 0.62, strong. The link has loosened recently: the 1-year correlation (0.31) runs below the 3-year figure (0.62). Stretching to 5 years gives 0.66, with an annualized covariance of 324.4 %².
Within IWM's tracked universe of 320 assets, KFY comes in at #98 by 3-year correlation. On 12-month performance IWM holds a 12.2-point edge, +28.4% against +16.2%.
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 KFY: side by side
| IWM (iShares Russell 2000 ETF) | KFY (Korn Ferry) | |
|---|---|---|
| 1-year return | +28.4% | +16.2% |
| 5-year return | +41.5% | +30.5% |
| Volatility (ann.) | 19.8% | 26.3% |
| Beta vs S&P 500 | 1.06 | 0.89 |
| Max drawdown (3Y) | -27.5% | -24.1% |
| Market cap | – | $4.3B |
| P/E (trailing) | – | 16.1 |
| Dividend yield | 0.91% | 2.37% |
| 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 | KFY |
|---|---|---|
| 2022 | -20.5% | -32.4% |
| 2023 | +16.8% | +19.1% |
| 2024 | +11.4% | +16.1% |
| 2025 | +12.7% | +0.6% |
| 2026 | +22.3% | +30.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that IWM holds KFY at a 0.14% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are IWM and KFY good diversifiers for each other?
Only partially. A correlation of 0.62 means IWM and KFY 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 KFY?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.31 over the last year and 0.66 over 5 years.
Is KFY a good diversifier for IWM?
Only partially. A correlation of 0.62 means IWM and KFY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.62 mean?
On the −1 to +1 scale, 0.62 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-kfy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/iwm-vs-kfy/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IWM correlations · KFY correlations
