IWM vs RSKD: Correlation
Measured on weekly returns over the past three years, iShares Russell 2000 ETF (IWM) and Riskified Ltd. Class A (RSKD) carry a correlation of 0.48, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IWM and RSKD?
Over the past 3 years, IWM and RSKD moved with a correlation of 0.48, which is moderate. Recent behaviour matches the longer record: 0.46 over 1 year against 0.48 over 3. Over 5 years the correlation is 0.49, and the annualized covariance of weekly returns is 363.1 %².
Within IWM's tracked universe of 320 assets, RSKD comes in at #255 by 3-year correlation. Their 12-month results are close: +28.4% for IWM against +31.6% for RSKD. Note the risk asymmetry: RSKD runs 1.9 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 RSKD: side by side
| IWM (iShares Russell 2000 ETF) | RSKD (Riskified Ltd. Class A) | |
|---|---|---|
| 1-year return | +28.4% | +31.6% |
| 5-year return | +41.5% | -81.3% |
| Volatility (ann.) | 19.8% | 38.0% |
| Beta vs S&P 500 | 1.06 | 1.09 |
| Max drawdown (3Y) | -27.5% | -42.2% |
| Market cap | – | $0.8B |
| 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 |
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 | RSKD |
|---|---|---|
| 2022 | -20.5% | -41.2% |
| 2023 | +16.8% | +1.3% |
| 2024 | +11.4% | +1.1% |
| 2025 | +12.7% | +5.1% |
| 2026 | +22.3% | +23.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IWM and RSKD good diversifiers for each other?
Reasonably. At 0.48, IWM and RSKD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between IWM and RSKD?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.46 over the last year and 0.49 over 5 years.
Is RSKD a good diversifier for IWM?
Reasonably. At 0.48, IWM and RSKD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 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-rskd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/iwm-vs-rskd/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IWM correlations · RSKD correlations
