IWM vs MITK: Correlation
iShares Russell 2000 ETF (IWM) and Mitek Systems, Inc. (MITK) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IWM and MITK?
Across a 3-year window, the weekly returns of IWM and MITK correlate at 0.44, moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.44 over 3. Stretching to 5 years gives 0.48, with an annualized covariance of 446.7 %².
Among the 320 assets we track against IWM, MITK ranks #285 by 3-year correlation. The last year tells two different stories: MITK led by 58.3 percentage points, +28.4% for IWM against +86.7% for MITK. Risk is not evenly split, since MITK carries 2.6 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 MITK: side by side
| IWM (iShares Russell 2000 ETF) | MITK (Mitek Systems, Inc.) | |
|---|---|---|
| 1-year return | +28.4% | +86.7% |
| 5-year return | +41.5% | -15.0% |
| Volatility (ann.) | 19.8% | 51.1% |
| Beta vs S&P 500 | 1.06 | 1.14 |
| Max drawdown (3Y) | -27.5% | -52.1% |
| Market cap | – | $0.9B |
| P/E (trailing) | – | 40.9 |
| 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 | MITK |
|---|---|---|
| 2022 | -20.5% | -45.4% |
| 2023 | +16.8% | +34.6% |
| 2024 | +11.4% | -14.6% |
| 2025 | +12.7% | -5.2% |
| 2026 | +22.3% | +82.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IWM and MITK good diversifiers for each other?
Reasonably. At 0.44, IWM and MITK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between IWM and MITK?
As of 2026-08-27, the correlation of weekly returns between IWM and MITK is 0.44 over 3 years, 0.50 over 1 year and 0.48 over 5 years.
Is MITK a good diversifier for IWM?
Reasonably. At 0.44, IWM and MITK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 mean?
A reading of 0.44 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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Related comparisons
Hubs: IWM correlations · MITK correlations
