IWM vs PRM: Correlation
How closely do iShares Russell 2000 ETF (IWM) and Perimeter Solutions, SA (PRM) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IWM and PRM?
Across a 3-year window, the weekly returns of IWM and PRM correlate at 0.49, moderate. The relationship has been stable: the 1-year correlation (0.49) sits close to the 3-year figure. Stretching to 5 years gives 0.49, with an annualized covariance of 476.2 %².
By 3-year correlation, PRM places #248 of the 320 assets tracked against IWM. The last year tells two different stories: PRM led by 18.5 percentage points, +28.4% for IWM against +46.9% for PRM. Risk is not evenly split, since PRM carries 2.5 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 PRM: side by side
| IWM (iShares Russell 2000 ETF) | PRM (Perimeter Solutions, SA) | |
|---|---|---|
| 1-year return | +28.4% | +46.9% |
| 5-year return | +41.5% | +166.9% |
| Volatility (ann.) | 19.8% | 49.1% |
| Beta vs S&P 500 | 1.06 | 1.44 |
| Max drawdown (3Y) | -27.5% | -51.3% |
| Market cap | – | $5.2B |
| 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, 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 | PRM |
|---|---|---|
| 2022 | -20.5% | -34.2% |
| 2023 | +16.8% | -49.7% |
| 2024 | +11.4% | +177.8% |
| 2025 | +12.7% | +115.4% |
| 2026 | +22.3% | +16.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that IWM holds PRM at a 0.15% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are IWM and PRM good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between IWM and PRM?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.49 over the last year and 0.49 over 5 years.
Is PRM a good diversifier for IWM?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.49 mean?
On the −1 to +1 scale, 0.49 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-prm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iwm-vs-prm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IWM correlations · PRM correlations
