IWM vs NXH: Correlation
Measured on weekly returns over the past three years, iShares Russell 2000 ETF (IWM) and Neighborhood Intelligence, Inc. (NXH) carry a correlation of 0.57, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IWM and NXH?
On 3 years of weekly data the IWM/NXH correlation comes out at 0.57, moderate. The relationship has been stable: the 1-year correlation (0.61) sits close to the 3-year figure. The 5-year figure is 0.57, and annualized covariance runs at 945.0 %².
By 3-year correlation, NXH places #153 of the 320 assets tracked against IWM. Their recent paths diverged sharply: over the last 12 months IWM outperformed by 85.2 percentage points (+28.4% for IWM against -56.8% for NXH). Risk is not evenly split, since NXH 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 NXH: side by side
| IWM (iShares Russell 2000 ETF) | NXH (Neighborhood Intelligence, Inc.) | |
|---|---|---|
| 1-year return | +28.4% | -56.8% |
| 5-year return | +41.5% | -94.6% |
| Volatility (ann.) | 19.8% | 84.1% |
| Beta vs S&P 500 | 1.06 | 2.56 |
| Max drawdown (3Y) | -27.5% | -89.8% |
| Market cap | – | $0.4B |
| 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 | NXH |
|---|---|---|
| 2022 | -20.5% | -67.2% |
| 2023 | +16.8% | +43.0% |
| 2024 | +11.4% | -82.2% |
| 2025 | +12.7% | +10.8% |
| 2026 | +22.3% | -27.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IWM and NXH good diversifiers for each other?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between IWM and NXH?
The IWM/NXH correlation stands at 0.57 on a 3-year window (1 year: 0.61, 5 years: 0.57), computed from weekly returns as of 2026-08-27.
Is NXH a good diversifier for IWM?
Somewhat, no more. With 0.57 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.57 mean?
On the −1 to +1 scale, 0.57 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-nxh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iwm-vs-nxh/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IWM correlations · NXH correlations
