IWM vs OPK: Correlation
iShares Russell 2000 ETF (IWM) and Opko Health, Inc. (OPK) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IWM and OPK?
On 3 years of weekly data the IWM/OPK correlation comes out at 0.40, moderate. Recent behaviour matches the longer record: 0.41 over 1 year against 0.40 over 3. The 5-year figure is 0.39, and annualized covariance runs at 383.4 %².
Within IWM's tracked universe of 320 assets, OPK comes in at #298 by 3-year correlation. Correlation aside, the last 12 months split them widely, with IWM ahead by 22.8 points (+28.4% versus +5.6%). Risk is not evenly split, since OPK carries 2.4 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 OPK: side by side
| IWM (iShares Russell 2000 ETF) | OPK (Opko Health, Inc.) | |
|---|---|---|
| 1-year return | +28.4% | +5.6% |
| 5-year return | +41.5% | -60.9% |
| Volatility (ann.) | 19.8% | 48.2% |
| Beta vs S&P 500 | 1.06 | 0.84 |
| Max drawdown (3Y) | -27.5% | -53.2% |
| Market cap | – | $1.1B |
| 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, 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 | OPK |
|---|---|---|
| 2022 | -20.5% | -74.0% |
| 2023 | +16.8% | +20.8% |
| 2024 | +11.4% | -2.6% |
| 2025 | +12.7% | -14.3% |
| 2026 | +22.3% | +19.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IWM and OPK good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between IWM and OPK?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.41 over the last year and 0.39 over 5 years.
Is OPK a good diversifier for IWM?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 mean?
A reading of 0.40 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-opk.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/iwm-vs-opk/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IWM correlations · OPK correlations
