IWM vs SSTK: Correlation
How closely do iShares Russell 2000 ETF (IWM) and Shutterstock, Inc. (SSTK) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IWM and SSTK?
On 3 years of weekly data the IWM/SSTK correlation comes out at 0.48, moderate. The past 12 months show a weaker link (0.35) than the 3-year average (0.48). The 5-year figure is 0.52, and annualized covariance runs at 472.5 %².
By 3-year correlation, SSTK places #258 of the 320 assets tracked against IWM. Their recent paths diverged sharply: over the last 12 months IWM outperformed by 99.5 percentage points (+28.4% for IWM against -71.1% for SSTK). One caveat on sizing: SSTK is 2.5 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 SSTK: side by side
| IWM (iShares Russell 2000 ETF) | SSTK (Shutterstock, Inc.) | |
|---|---|---|
| 1-year return | +28.4% | -71.1% |
| 5-year return | +41.5% | -94.3% |
| Volatility (ann.) | 19.8% | 50.0% |
| Beta vs S&P 500 | 1.06 | 1.21 |
| Max drawdown (3Y) | -27.5% | -88.2% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.91% | 24.91% |
| 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 | SSTK |
|---|---|---|
| 2022 | -20.5% | -51.7% |
| 2023 | +16.8% | -6.4% |
| 2024 | +11.4% | -35.1% |
| 2025 | +12.7% | -32.7% |
| 2026 | +22.3% | -69.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IWM and SSTK good diversifiers for each other?
Reasonably. At 0.48, IWM and SSTK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between IWM and SSTK?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.35 over the last year and 0.52 over 5 years.
Is SSTK a good diversifier for IWM?
Reasonably. At 0.48, IWM and SSTK keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 mean?
A reading of 0.48 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-sstk.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iwm-vs-sstk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IWM correlations · SSTK correlations
