IWM vs SLQT: Correlation
How closely do iShares Russell 2000 ETF (IWM) and SelectQuote, Inc. (SLQT) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IWM and SLQT?
On 3 years of weekly data the IWM/SLQT correlation comes out at 0.38, moderate. Little has changed lately, as the 1-year reading of 0.37 lands near the 3-year figure. The 5-year figure is 0.33, and annualized covariance runs at 654.6 %².
By 3-year correlation, SLQT places #305 of the 320 assets tracked against IWM. The last year tells two different stories: IWM led by 106.0 percentage points, +28.4% for IWM against -77.6% for SLQT. Note the risk asymmetry: SLQT runs 4.4 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 SLQT: side by side
| IWM (iShares Russell 2000 ETF) | SLQT (SelectQuote, Inc.) | |
|---|---|---|
| 1-year return | +28.4% | -77.6% |
| 5-year return | +41.5% | -93.9% |
| Volatility (ann.) | 19.8% | 86.4% |
| Beta vs S&P 500 | 1.06 | 1.55 |
| Max drawdown (3Y) | -27.5% | -91.1% |
| Market cap | – | $0.1B |
| 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 | SLQT |
|---|---|---|
| 2022 | -20.5% | -92.6% |
| 2023 | +16.8% | +103.9% |
| 2024 | +11.4% | +171.5% |
| 2025 | +12.7% | -62.1% |
| 2026 | +22.3% | -61.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IWM and SLQT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between IWM and SLQT?
As of 2026-08-27, the correlation of weekly returns between IWM and SLQT is 0.38 over 3 years, 0.37 over 1 year and 0.33 over 5 years.
Is SLQT a good diversifier for IWM?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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-slqt.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/iwm-vs-slqt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IWM correlations · SLQT correlations
