IWM vs OSPN: Correlation
Measured on weekly returns over the past three years, iShares Russell 2000 ETF (IWM) and OneSpan Inc. (OSPN) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IWM and OSPN?
On 3 years of weekly data the IWM/OSPN correlation comes out at 0.51, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.34 versus 0.51 over 3 years. The 5-year figure is 0.51, and annualized covariance runs at 439.0 %².
Among the 320 assets we track against IWM, OSPN ranks #219 by 3-year correlation. On 12-month performance IWM holds a 12.8-point edge, +28.4% against +15.6%. Note the risk asymmetry: OSPN runs 2.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 OSPN: side by side
| IWM (iShares Russell 2000 ETF) | OSPN (OneSpan Inc.) | |
|---|---|---|
| 1-year return | +28.4% | +15.6% |
| 5-year return | +41.5% | -8.3% |
| Volatility (ann.) | 19.8% | 43.6% |
| Beta vs S&P 500 | 1.06 | 1.28 |
| Max drawdown (3Y) | -27.5% | -47.9% |
| Market cap | – | $0.6B |
| P/E (trailing) | – | 9.3 |
| Dividend yield | 0.91% | 3.32% |
| 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 | OSPN |
|---|---|---|
| 2022 | -20.5% | -33.9% |
| 2023 | +16.8% | -4.2% |
| 2024 | +11.4% | +72.9% |
| 2025 | +12.7% | -28.5% |
| 2026 | +22.3% | +32.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IWM and OSPN good diversifiers for each other?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between IWM and OSPN?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.34 over the last year and 0.51 over 5 years.
Is OSPN a good diversifier for IWM?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 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-ospn.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/iwm-vs-ospn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IWM correlations · OSPN correlations
