IWM vs RIGL: Correlation
Measured on weekly returns over the past three years, iShares Russell 2000 ETF (IWM) and Rigel Pharmaceuticals, Inc. (RIGL) 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 RIGL?
Over the past 3 years, IWM and RIGL moved with a correlation of 0.50, which is moderate. The link has loosened recently: the 1-year correlation (0.22) runs below the 3-year figure (0.50). Over 5 years the correlation is 0.27, and the annualized covariance of weekly returns is 759.3 %².
By 3-year correlation, RIGL places #236 of the 320 assets tracked against IWM. The trailing year gives IWM the advantage: +28.4% versus +17.9%, a 10.5-point spread. Note the risk asymmetry: RIGL runs 3.9 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 RIGL: side by side
| IWM (iShares Russell 2000 ETF) | RIGL (Rigel Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | +28.4% | +17.9% |
| 5-year return | +41.5% | +23.3% |
| Volatility (ann.) | 19.8% | 76.9% |
| Beta vs S&P 500 | 1.06 | 1.98 |
| Max drawdown (3Y) | -27.5% | -50.8% |
| Market cap | – | $0.9B |
| P/E (trailing) | – | 2.8 |
| 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 | RIGL |
|---|---|---|
| 2022 | -20.5% | -43.4% |
| 2023 | +16.8% | -3.3% |
| 2024 | +11.4% | +16.0% |
| 2025 | +12.7% | +154.6% |
| 2026 | +22.3% | +9.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IWM and RIGL good diversifiers for each other?
To a limited degree. At 0.50 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 RIGL?
The IWM/RIGL correlation stands at 0.50 on a 3-year window (1 year: 0.22, 5 years: 0.27), computed from weekly returns as of 2026-08-27.
Is RIGL a good diversifier for IWM?
To a limited degree. At 0.50 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 0.50 mean?
A reading of 0.50 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-rigl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/iwm-vs-rigl/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IWM correlations · RIGL correlations
