IWM vs LYTS: Correlation
Measured on weekly returns over the past three years, iShares Russell 2000 ETF (IWM) and LSI Industries Inc. (LYTS) carry a correlation of 0.59, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IWM and LYTS?
Over the past 3 years, IWM and LYTS moved with a correlation of 0.59, which is moderate. The relationship has been stable: the 1-year correlation (0.64) sits close to the 3-year figure. Over 5 years the correlation is 0.37, and the annualized covariance of weekly returns is 447.8 %².
By 3-year correlation, LYTS places #131 of the 320 assets tracked against IWM. Their recent paths diverged sharply: over the last 12 months IWM outperformed by 38.4 percentage points (+28.4% for IWM against -10.0% for LYTS). Note the risk asymmetry: LYTS runs 1.9 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 LYTS: side by side
| IWM (iShares Russell 2000 ETF) | LYTS (LSI Industries Inc.) | |
|---|---|---|
| 1-year return | +28.4% | -10.0% |
| 5-year return | +41.5% | +167.4% |
| Volatility (ann.) | 19.8% | 38.6% |
| Beta vs S&P 500 | 1.06 | 1.13 |
| Max drawdown (3Y) | -27.5% | -40.6% |
| Market cap | – | $0.7B |
| P/E (trailing) | – | 30.1 |
| Dividend yield | 0.91% | 0.99% |
| 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 | LYTS |
|---|---|---|
| 2022 | -20.5% | +82.9% |
| 2023 | +16.8% | +16.8% |
| 2024 | +11.4% | +39.7% |
| 2025 | +12.7% | -4.7% |
| 2026 | +22.3% | +10.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IWM and LYTS good diversifiers for each other?
Only partially. A correlation of 0.59 means IWM and LYTS 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 LYTS?
Using weekly returns as of 2026-08-27: 0.59 over 3 years, with 0.64 over the last year and 0.37 over 5 years.
Is LYTS a good diversifier for IWM?
Only partially. A correlation of 0.59 means IWM and LYTS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.59 mean?
A reading of 0.59 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/iwm-vs-lyts.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/iwm-vs-lyts/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IWM correlations · LYTS correlations
