IWM vs PKOH: Correlation
iShares Russell 2000 ETF (IWM) and Park-Ohio Holdings Corp. (PKOH) show a moderate relationship: their 3-year correlation of weekly returns is 0.58.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IWM and PKOH?
Across a 3-year window, the weekly returns of IWM and PKOH correlate at 0.58, moderate. Recent behaviour matches the longer record: 0.56 over 1 year against 0.58 over 3. Stretching to 5 years gives 0.48, with an annualized covariance of 503.0 %².
Among the 320 assets we track against IWM, PKOH ranks #147 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PKOH outperformed by 117.6 percentage points (+28.4% for IWM against +146.0% for PKOH). Note the risk asymmetry: PKOH 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 PKOH: side by side
| IWM (iShares Russell 2000 ETF) | PKOH (Park-Ohio Holdings Corp.) | |
|---|---|---|
| 1-year return | +28.4% | +146.0% |
| 5-year return | +41.5% | +101.4% |
| Volatility (ann.) | 19.8% | 43.9% |
| Beta vs S&P 500 | 1.06 | 1.33 |
| Max drawdown (3Y) | -27.5% | -52.5% |
| Market cap | – | $0.7B |
| P/E (trailing) | – | 24.6 |
| Dividend yield | 0.91% | 1.09% |
| 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 | PKOH |
|---|---|---|
| 2022 | -20.5% | -40.3% |
| 2023 | +16.8% | +127.1% |
| 2024 | +11.4% | -0.8% |
| 2025 | +12.7% | -18.3% |
| 2026 | +22.3% | +129.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IWM and PKOH good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between IWM and PKOH?
As of 2026-08-27, the correlation of weekly returns between IWM and PKOH is 0.58 over 3 years, 0.56 over 1 year and 0.48 over 5 years.
Is PKOH a good diversifier for IWM?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 mean?
On the −1 to +1 scale, 0.58 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-pkoh.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iwm-vs-pkoh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IWM correlations · PKOH correlations
