IWM vs LZB: Correlation
iShares Russell 2000 ETF (IWM) and La-Z-Boy Incorporated (LZB) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IWM and LZB?
Across a 3-year window, the weekly returns of IWM and LZB correlate at 0.54, moderate. Recent behaviour matches the longer record: 0.49 over 1 year against 0.54 over 3. Stretching to 5 years gives 0.58, with an annualized covariance of 362.4 %².
Among the 320 assets we track against IWM, LZB ranks #180 by 3-year correlation. Correlation aside, the last 12 months split them widely, with IWM ahead by 37.3 points (+28.4% versus -8.9%). Risk is not evenly split, since LZB carries 1.7 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 LZB: side by side
| IWM (iShares Russell 2000 ETF) | LZB (La-Z-Boy Incorporated) | |
|---|---|---|
| 1-year return | +28.4% | -8.9% |
| 5-year return | +41.5% | +3.8% |
| Volatility (ann.) | 19.8% | 33.7% |
| Beta vs S&P 500 | 1.06 | 0.78 |
| Max drawdown (3Y) | -27.5% | -37.9% |
| Market cap | – | $1.3B |
| P/E (trailing) | – | 16.4 |
| Dividend yield | 0.91% | 2.93% |
| 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 $80.1B under management, 1757 holdings, a 0.19% expense ratio, a 0.91% trailing dividend yield.
Year-by-year returns
| Year | IWM | LZB |
|---|---|---|
| 2022 | -20.5% | -35.5% |
| 2023 | +16.8% | +65.7% |
| 2024 | +11.4% | +20.4% |
| 2025 | +12.7% | -12.5% |
| 2026 | +22.3% | -11.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IWM and LZB good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between IWM and LZB?
The IWM/LZB correlation stands at 0.54 on a 3-year window (1 year: 0.49, 5 years: 0.58), computed from weekly returns as of 2026-08-27.
Is LZB a good diversifier for IWM?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 mean?
A reading of 0.54 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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$ curl https://www.pairbook.io/api/v1/pairs/iwm-vs-lzb.json
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[](https://www.pairbook.io/pair/iwm-vs-lzb/)
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Related comparisons
Hubs: IWM correlations · LZB correlations
