IWM vs STGW: Correlation
iShares Russell 2000 ETF (IWM) and Stagwell Inc. (STGW) show a moderate relationship: their 3-year correlation of weekly returns is 0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IWM and STGW?
Across a 3-year window, the weekly returns of IWM and STGW correlate at 0.53, moderate. The past 12 months show a weaker link (0.30) than the 3-year average (0.53). Stretching to 5 years gives 0.56, with an annualized covariance of 513.1 %².
Among the 320 assets we track against IWM, STGW ranks #199 by 3-year correlation. Correlation aside, the last 12 months split them widely, with STGW ahead by 30.7 points (+28.4% versus +59.1%). One caveat on sizing: STGW 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 STGW: side by side
| IWM (iShares Russell 2000 ETF) | STGW (Stagwell Inc.) | |
|---|---|---|
| 1-year return | +28.4% | +59.1% |
| 5-year return | +41.5% | +30.4% |
| Volatility (ann.) | 19.8% | 49.1% |
| Beta vs S&P 500 | 1.06 | 1.28 |
| Max drawdown (3Y) | -27.5% | -48.6% |
| Market cap | – | $2.2B |
| P/E (trailing) | – | 148.0 |
| Dividend yield | 0.91% | 0.00% |
| Expense ratio | 0.19% | – |
| Assets under management | $80.1B | – |
| Sector / category | ETF · US Small & Mid Cap | US Listed |
IWM is a Small Blend fund from iShares: $80.1B under management, 1757 holdings, a 0.19% expense ratio, a 0.91% trailing dividend yield.
Year-by-year returns
| Year | IWM | STGW |
|---|---|---|
| 2022 | -20.5% | -28.4% |
| 2023 | +16.8% | +6.8% |
| 2024 | +11.4% | -0.8% |
| 2025 | +12.7% | -25.7% |
| 2026 | +22.3% | +81.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IWM and STGW good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between IWM and STGW?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.30 over the last year and 0.56 over 5 years.
Is STGW a good diversifier for IWM?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 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-stgw.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/iwm-vs-stgw/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IWM correlations · STGW correlations
