IWM vs LVO: Correlation
Measured on weekly returns over the past three years, iShares Russell 2000 ETF (IWM) and LiveOne, Inc. (LVO) carry a correlation of 0.36, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IWM and LVO?
Over the past 3 years, IWM and LVO moved with a correlation of 0.36, which is moderate. The link has loosened recently: the 1-year correlation (0.19) runs below the 3-year figure (0.36). Over 5 years the correlation is 0.34, and the annualized covariance of weekly returns is 582.6 %².
Within IWM's tracked universe of 320 assets, LVO comes in at #307 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months IWM outperformed by 61.3 percentage points (+28.4% for IWM against -32.9% for LVO). Risk is not evenly split, since LVO carries 4.2 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 LVO: side by side
| IWM (iShares Russell 2000 ETF) | LVO (LiveOne, Inc.) | |
|---|---|---|
| 1-year return | +28.4% | -32.9% |
| 5-year return | +41.5% | -88.2% |
| Volatility (ann.) | 19.8% | 82.2% |
| Beta vs S&P 500 | 1.06 | 1.85 |
| Max drawdown (3Y) | -27.5% | -83.1% |
| Market cap | – | $0.1B |
| 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 | LVO |
|---|---|---|
| 2022 | -20.5% | -49.7% |
| 2023 | +16.8% | +115.8% |
| 2024 | +11.4% | +5.8% |
| 2025 | +12.7% | -67.9% |
| 2026 | +22.3% | -16.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IWM and LVO good diversifiers for each other?
Reasonably. At 0.36, IWM and LVO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between IWM and LVO?
As of 2026-08-27, the correlation of weekly returns between IWM and LVO is 0.36 over 3 years, 0.19 over 1 year and 0.34 over 5 years.
Is LVO a good diversifier for IWM?
Reasonably. At 0.36, IWM and LVO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 mean?
On the −1 to +1 scale, 0.36 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-lvo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iwm-vs-lvo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IWM correlations · LVO correlations
