IWM vs KRNT: Correlation
How closely do iShares Russell 2000 ETF (IWM) and Kornit Digital Ltd. (KRNT) trade together? Their weekly returns over three years give a correlation of 0.61, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IWM and KRNT?
Across a 3-year window, the weekly returns of IWM and KRNT correlate at 0.61, strong. Little has changed lately, as the 1-year reading of 0.51 lands near the 3-year figure. Stretching to 5 years gives 0.60, with an annualized covariance of 641.5 %².
Among the 320 assets we track against IWM, KRNT ranks #105 by 3-year correlation. Correlation aside, the last 12 months split them widely, with IWM ahead by 16.3 points (+28.4% versus +12.1%). Note the risk asymmetry: KRNT runs 2.7 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.
IWM vs KRNT: side by side
| IWM (iShares Russell 2000 ETF) | KRNT (Kornit Digital Ltd.) | |
|---|---|---|
| 1-year return | +28.4% | +12.1% |
| 5-year return | +41.5% | -87.2% |
| Volatility (ann.) | 19.8% | 53.2% |
| Beta vs S&P 500 | 1.06 | 2.06 |
| Max drawdown (3Y) | -27.5% | -62.6% |
| Market cap | – | $0.7B |
| P/E (trailing) | – | – |
| 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 is a Small Blend fund from iShares: $80.1B under management, 1757 holdings, a 0.19% expense ratio, a 0.91% trailing dividend yield.
Year-by-year returns
| Year | IWM | KRNT |
|---|---|---|
| 2022 | -20.5% | -84.9% |
| 2023 | +16.8% | -16.6% |
| 2024 | +11.4% | +61.5% |
| 2025 | +12.7% | -53.5% |
| 2026 | +22.3% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IWM and KRNT good diversifiers for each other?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between IWM and KRNT?
The IWM/KRNT correlation stands at 0.61 on a 3-year window (1 year: 0.51, 5 years: 0.60), computed from weekly returns as of 2026-08-27.
Is KRNT a good diversifier for IWM?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.61 mean?
On the −1 to +1 scale, 0.61 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.
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Related comparisons
Hubs: IWM correlations · KRNT correlations
