IWM vs SLVM: Correlation
How closely do iShares Russell 2000 ETF (IWM) and Sylvamo Corporation (SLVM) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IWM and SLVM?
On 3 years of weekly data the IWM/SLVM correlation comes out at 0.54, moderate. Recent behaviour matches the longer record: 0.54 over 1 year against 0.54 over 3. The 5-year figure is 0.39, and annualized covariance runs at 409.7 %².
By 3-year correlation, SLVM places #184 of the 320 assets tracked against IWM. The last year tells two different stories: IWM led by 43.9 percentage points, +28.4% for IWM against -15.5% for SLVM. One caveat on sizing: SLVM is 1.9 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 SLVM: side by side
| IWM (iShares Russell 2000 ETF) | SLVM (Sylvamo Corporation) | |
|---|---|---|
| 1-year return | +28.4% | -15.5% |
| 5-year return | +41.5% | +65.7% |
| Volatility (ann.) | 19.8% | 38.0% |
| Beta vs S&P 500 | 1.06 | 0.92 |
| Max drawdown (3Y) | -27.5% | -60.6% |
| Market cap | – | $1.5B |
| P/E (trailing) | – | 19.6 |
| Dividend yield | 0.91% | 4.91% |
| 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 | SLVM |
|---|---|---|
| 2022 | -20.5% | +75.3% |
| 2023 | +16.8% | +4.2% |
| 2024 | +11.4% | +64.7% |
| 2025 | +12.7% | -37.1% |
| 2026 | +22.3% | -21.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IWM and SLVM good diversifiers for each other?
To a limited degree. At 0.54 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 SLVM?
The IWM/SLVM correlation stands at 0.54 on a 3-year window (1 year: 0.54, 5 years: 0.39), computed from weekly returns as of 2026-08-27.
Is SLVM a good diversifier for IWM?
To a limited degree. At 0.54 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 0.54 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/iwm-vs-slvm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/iwm-vs-slvm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IWM correlations · SLVM correlations
