IWM vs LIVN: Correlation
Measured on weekly returns over the past three years, iShares Russell 2000 ETF (IWM) and LivaNova PLC (LIVN) carry a correlation of 0.48, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IWM and LIVN?
Across a 3-year window, the weekly returns of IWM and LIVN correlate at 0.48, moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.48 over 3. Stretching to 5 years gives 0.55, with an annualized covariance of 387.7 %².
Among the 320 assets we track against IWM, LIVN ranks #253 by 3-year correlation. On 12-month performance LIVN holds a 13.3-point edge, +28.4% against +41.7%. Risk is not evenly split, since LIVN 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 LIVN: side by side
| IWM (iShares Russell 2000 ETF) | LIVN (LivaNova PLC) | |
|---|---|---|
| 1-year return | +28.4% | +41.7% |
| 5-year return | +41.5% | -2.9% |
| Volatility (ann.) | 19.8% | 40.6% |
| Beta vs S&P 500 | 1.06 | 0.98 |
| Max drawdown (3Y) | -27.5% | -47.2% |
| Market cap | – | $4.4B |
| P/E (trailing) | – | 23.6 |
| Dividend yield | 0.91% | 0.00% |
| Expense ratio | 0.19% | – |
| Assets under management | $80.1B | – |
| Sector / category | ETF · US Small & Mid Cap | US Listed |
On the fund side, IWM sits in the Small Blend category at iShares, with $80.1B under management, 1757 holdings, a 0.19% expense ratio, a 0.91% trailing dividend yield.
Year-by-year returns
| Year | IWM | LIVN |
|---|---|---|
| 2022 | -20.5% | -36.5% |
| 2023 | +16.8% | -6.8% |
| 2024 | +11.4% | -10.5% |
| 2025 | +12.7% | +32.9% |
| 2026 | +22.3% | +30.1% |
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 LIVN at a 0.14% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are IWM and LIVN good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between IWM and LIVN?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.50 over the last year and 0.55 over 5 years.
Is LIVN a good diversifier for IWM?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 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-livn.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/iwm-vs-livn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IWM correlations · LIVN correlations
