IWM vs SNA: Correlation
How closely do iShares Russell 2000 ETF (IWM) and Snap-on (SNA) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IWM and SNA?
Over the past 3 years, IWM and SNA moved with a correlation of 0.56, which is moderate. The relationship has been stable: the 1-year correlation (0.48) sits close to the 3-year figure. Over 5 years the correlation is 0.61, and the annualized covariance of weekly returns is 236.3 %².
Among the 320 assets we track against IWM, SNA ranks #164 by 3-year correlation. Over the last 12 months IWM came out ahead by 5.3 percentage points (+28.4% against +23.1%). The link looks structural: the rolling one-year correlation barely moved, holding between 0.48 and 0.71.
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 SNA: side by side
| IWM (iShares Russell 2000 ETF) | SNA (Snap-on) | |
|---|---|---|
| 1-year return | +28.4% | +23.1% |
| 5-year return | +41.5% | +99.6% |
| Volatility (ann.) | 19.8% | 21.3% |
| Beta vs S&P 500 | 1.06 | 0.70 |
| Max drawdown (3Y) | -27.5% | -20.8% |
| Market cap | – | $20.5B |
| P/E (trailing) | – | 20.2 |
| Dividend yield | 0.91% | 2.38% |
| Expense ratio | 0.19% | – |
| Assets under management | $80.1B | – |
| Sector / category | ETF · US Small & Mid Cap | Industrials |
IWM, iShares's Small Blend fund, carries $80.1B under management, 1757 holdings, a 0.19% expense ratio, a 0.91% trailing dividend yield.
Year-by-year returns
| Year | IWM | SNA |
|---|---|---|
| 2022 | -20.5% | +8.9% |
| 2023 | +16.8% | +29.7% |
| 2024 | +11.4% | +20.7% |
| 2025 | +12.7% | +4.3% |
| 2026 | +22.3% | +17.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IWM and SNA good diversifiers for each other?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between IWM and SNA?
Using weekly returns as of 2026-08-27: 0.56 over 3 years, with 0.48 over the last year and 0.61 over 5 years.
Is SNA a good diversifier for IWM?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.56 mean?
On the −1 to +1 scale, 0.56 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-sna.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/iwm-vs-sna/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IWM correlations · SNA correlations
