IWM vs PNR: Correlation
iShares Russell 2000 ETF (IWM) and Pentair (PNR) show a strong relationship: their 3-year correlation of weekly returns is 0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IWM and PNR?
Over the past 3 years, IWM and PNR moved with a correlation of 0.60, which is strong. The past 12 months show a weaker link (0.30) than the 3-year average (0.60). Over 5 years the correlation is 0.65, and the annualized covariance of weekly returns is 337.4 %².
Among the 320 assets we track against IWM, PNR ranks #121 by 3-year correlation. Correlation aside, the last 12 months split them widely, with IWM ahead by 70.9 points (+28.4% versus -42.5%). The rolling one-year correlation moved between 0.32 and 0.80 over the past three years, a moderate range.
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 PNR: side by side
| IWM (iShares Russell 2000 ETF) | PNR (Pentair) | |
|---|---|---|
| 1-year return | +28.4% | -42.5% |
| 5-year return | +41.5% | -14.1% |
| Volatility (ann.) | 19.8% | 28.2% |
| Beta vs S&P 500 | 1.06 | 1.07 |
| Max drawdown (3Y) | -27.5% | -45.0% |
| Market cap | – | $9.9B |
| P/E (trailing) | – | 16.2 |
| Dividend yield | 0.91% | 1.65% |
| Expense ratio | 0.19% | – |
| Assets under management | $80.1B | – |
| Sector / category | ETF · US Small & Mid Cap | Industrials |
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 | PNR |
|---|---|---|
| 2022 | -20.5% | -37.4% |
| 2023 | +16.8% | +64.2% |
| 2024 | +11.4% | +40.0% |
| 2025 | +12.7% | +4.5% |
| 2026 | +22.3% | -39.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IWM and PNR good diversifiers for each other?
Only partially. A correlation of 0.60 means IWM and PNR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between IWM and PNR?
The IWM/PNR correlation stands at 0.60 on a 3-year window (1 year: 0.30, 5 years: 0.65), computed from weekly returns as of 2026-08-27.
Is PNR a good diversifier for IWM?
Only partially. A correlation of 0.60 means IWM and PNR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.60 mean?
A reading of 0.60 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-pnr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iwm-vs-pnr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IWM correlations · PNR correlations
