IWM vs OPLN: Correlation
Measured on weekly returns over the past three years, iShares Russell 2000 ETF (IWM) and OPENLANE, Inc. (OPLN) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IWM and OPLN?
Over the past 3 years, IWM and OPLN moved with a correlation of 0.53, which is moderate. The relationship has been stable: the 1-year correlation (0.45) sits close to the 3-year figure. Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 350.2 %².
By 3-year correlation, OPLN places #195 of the 320 assets tracked against IWM. The trailing year gives IWM the advantage: +28.4% versus +22.0%, a 6.4-point spread. Risk is not evenly split, since OPLN 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 OPLN: side by side
| IWM (iShares Russell 2000 ETF) | OPLN (OPENLANE, Inc.) | |
|---|---|---|
| 1-year return | +28.4% | +22.0% |
| 5-year return | +41.5% | +111.4% |
| Volatility (ann.) | 19.8% | 33.5% |
| Beta vs S&P 500 | 1.06 | 1.02 |
| Max drawdown (3Y) | -27.5% | -22.1% |
| Market cap | – | $4.3B |
| 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 | OPLN |
|---|---|---|
| 2022 | -20.5% | -16.5% |
| 2023 | +16.8% | +13.5% |
| 2024 | +11.4% | +34.0% |
| 2025 | +12.7% | +50.1% |
| 2026 | +22.3% | +19.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.12% of IWM is OPLN itself, so the fund partly moves with the stock by construction.
Are IWM and OPLN good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between IWM and OPLN?
As of 2026-08-27, the correlation of weekly returns between IWM and OPLN is 0.53 over 3 years, 0.45 over 1 year and 0.48 over 5 years.
Is OPLN a good diversifier for IWM?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 mean?
On the −1 to +1 scale, 0.53 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-opln.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iwm-vs-opln/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IWM correlations · OPLN correlations
