IWM vs RICK: Correlation
How closely do iShares Russell 2000 ETF (IWM) and RCI Hospitality Holdings, Inc. (RICK) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IWM and RICK?
Over the past 3 years, IWM and RICK moved with a correlation of 0.53, which is moderate. The past 12 months show a weaker link (0.40) than the 3-year average (0.53). Over 5 years the correlation is 0.53, and the annualized covariance of weekly returns is 412.4 %².
Among the 320 assets we track against IWM, RICK ranks #196 by 3-year correlation. The last year tells two different stories: IWM led by 48.3 percentage points, +28.4% for IWM against -19.9% for RICK. Note the risk asymmetry: RICK runs 2.0 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 RICK: side by side
| IWM (iShares Russell 2000 ETF) | RICK (RCI Hospitality Holdings, Inc.) | |
|---|---|---|
| 1-year return | +28.4% | -19.9% |
| 5-year return | +41.5% | -54.1% |
| Volatility (ann.) | 19.8% | 39.0% |
| Beta vs S&P 500 | 1.06 | 0.96 |
| Max drawdown (3Y) | -27.5% | -68.8% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.91% | 1.01% |
| 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 | RICK |
|---|---|---|
| 2022 | -20.5% | +20.0% |
| 2023 | +16.8% | -28.7% |
| 2024 | +11.4% | -12.8% |
| 2025 | +12.7% | -58.2% |
| 2026 | +22.3% | +24.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IWM and RICK good diversifiers for each other?
Only partially. A correlation of 0.53 means IWM and RICK 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 RICK?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.40 over the last year and 0.53 over 5 years.
Is RICK a good diversifier for IWM?
Only partially. A correlation of 0.53 means IWM and RICK share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.53 mean?
A reading of 0.53 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-rick.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/iwm-vs-rick/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IWM correlations · RICK correlations
