IWM vs REZI: Correlation
iShares Russell 2000 ETF (IWM) and Resideo Technologies, Inc. (REZI) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IWM and REZI?
Over the past 3 years, IWM and REZI moved with a correlation of 0.62, which is strong. The relationship has been stable: the 1-year correlation (0.54) sits close to the 3-year figure. Over 5 years the correlation is 0.61, and the annualized covariance of weekly returns is 604.0 %².
Within IWM's tracked universe of 320 assets, REZI comes in at #101 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months IWM outperformed by 45.7 percentage points (+28.4% for IWM against -17.3% for REZI). One caveat on sizing: REZI is 2.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 REZI: side by side
| IWM (iShares Russell 2000 ETF) | REZI (Resideo Technologies, Inc.) | |
|---|---|---|
| 1-year return | +28.4% | -17.3% |
| 5-year return | +41.5% | -11.7% |
| Volatility (ann.) | 19.8% | 48.9% |
| Beta vs S&P 500 | 1.06 | 1.58 |
| Max drawdown (3Y) | -27.5% | -47.1% |
| Market cap | – | $3.0B |
| P/E (trailing) | – | 7.8 |
| Dividend yield | 0.91% | 0.00% |
| Expense ratio | 0.19% | – |
| Assets under management | $80.1B | – |
| Sector / category | ETF · US Small & Mid Cap | US Listed |
IWM is a Small Blend fund from iShares: $80.1B under management, 1757 holdings, a 0.19% expense ratio, a 0.91% trailing dividend yield.
Year-by-year returns
| Year | IWM | REZI |
|---|---|---|
| 2022 | -20.5% | -36.8% |
| 2023 | +16.8% | +14.4% |
| 2024 | +11.4% | +22.5% |
| 2025 | +12.7% | +52.4% |
| 2026 | +22.3% | -18.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
REZI represents 0.09% of IWM's portfolio, so part of any move in IWM is REZI itself, and the correlation between them is partly mechanical.
Are IWM and REZI good diversifiers for each other?
To a limited degree. At 0.62 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 REZI?
As of 2026-08-27, the correlation of weekly returns between IWM and REZI is 0.62 over 3 years, 0.54 over 1 year and 0.61 over 5 years.
Is REZI a good diversifier for IWM?
To a limited degree. At 0.62 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 0.62 mean?
On the −1 to +1 scale, 0.62 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-rezi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iwm-vs-rezi/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IWM correlations · REZI correlations
