IWM vs LXFR: Correlation
How closely do iShares Russell 2000 ETF (IWM) and Luxfer Holdings PLC (LXFR) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IWM and LXFR?
Over the past 3 years, IWM and LXFR moved with a correlation of 0.52, which is moderate. The relationship has been stable: the 1-year correlation (0.52) sits close to the 3-year figure. Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 458.9 %².
Within IWM's tracked universe of 320 assets, LXFR comes in at #209 by 3-year correlation. Neither side won the trailing year by much: +28.4% against +31.6%. One caveat on sizing: LXFR is 2.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 LXFR: side by side
| IWM (iShares Russell 2000 ETF) | LXFR (Luxfer Holdings PLC) | |
|---|---|---|
| 1-year return | +28.4% | +31.6% |
| 5-year return | +41.5% | -1.2% |
| Volatility (ann.) | 19.8% | 44.1% |
| Beta vs S&P 500 | 1.06 | 0.97 |
| Max drawdown (3Y) | -27.5% | -42.1% |
| Market cap | – | $0.5B |
| P/E (trailing) | – | 35.0 |
| Dividend yield | 0.91% | 3.03% |
| 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 | LXFR |
|---|---|---|
| 2022 | -20.5% | -26.6% |
| 2023 | +16.8% | -32.3% |
| 2024 | +11.4% | +53.9% |
| 2025 | +12.7% | +7.8% |
| 2026 | +22.3% | +30.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IWM and LXFR good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between IWM and LXFR?
As of 2026-08-27, the correlation of weekly returns between IWM and LXFR is 0.52 over 3 years, 0.52 over 1 year and 0.53 over 5 years.
Is LXFR a good diversifier for IWM?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: IWM correlations · LXFR correlations
