IWM vs PLAB: Correlation
Measured on weekly returns over the past three years, iShares Russell 2000 ETF (IWM) and Photronics, Inc. (PLAB) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IWM and PLAB?
Across a 3-year window, the weekly returns of IWM and PLAB correlate at 0.50, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.36 versus 0.50 over 3 years. Stretching to 5 years gives 0.55, with an annualized covariance of 593.8 %².
Among the 320 assets we track against IWM, PLAB ranks #233 by 3-year correlation. Their 12-month results are close: +28.4% for IWM against +26.2% for PLAB. Risk is not evenly split, since PLAB carries 3.0 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 PLAB: side by side
| IWM (iShares Russell 2000 ETF) | PLAB (Photronics, Inc.) | |
|---|---|---|
| 1-year return | +28.4% | +26.2% |
| 5-year return | +41.5% | +106.4% |
| Volatility (ann.) | 19.8% | 60.0% |
| Beta vs S&P 500 | 1.06 | 1.56 |
| Max drawdown (3Y) | -27.5% | -50.6% |
| Market cap | – | $1.8B |
| P/E (trailing) | – | 10.8 |
| Dividend yield | 0.91% | 0.00% |
| 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 | PLAB |
|---|---|---|
| 2022 | -20.5% | -10.7% |
| 2023 | +16.8% | +86.4% |
| 2024 | +11.4% | -24.9% |
| 2025 | +12.7% | +35.8% |
| 2026 | +22.3% | -5.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
PLAB represents 0.06% of IWM's portfolio, so part of any move in IWM is PLAB itself, and the correlation between them is partly mechanical.
Are IWM and PLAB good diversifiers for each other?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between IWM and PLAB?
The IWM/PLAB correlation stands at 0.50 on a 3-year window (1 year: 0.36, 5 years: 0.55), computed from weekly returns as of 2026-08-27.
Is PLAB a good diversifier for IWM?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.50 mean?
On the −1 to +1 scale, 0.50 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-plab.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iwm-vs-plab/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IWM correlations · PLAB correlations
