IWM vs TDOC: Correlation
iShares Russell 2000 ETF (IWM) and Teladoc Health, Inc. (TDOC) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IWM and TDOC?
On 3 years of weekly data the IWM/TDOC correlation comes out at 0.51, moderate. The relationship has been stable: the 1-year correlation (0.49) sits close to the 3-year figure. The 5-year figure is 0.58, and annualized covariance runs at 590.4 %².
Among the 320 assets we track against IWM, TDOC ranks #222 by 3-year correlation. Correlation aside, the last 12 months split them widely, with IWM ahead by 46.2 points (+28.4% versus -17.8%). Risk is not evenly split, since TDOC carries 2.9 times the volatility of the other side.
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 TDOC: side by side
| IWM (iShares Russell 2000 ETF) | TDOC (Teladoc Health, Inc.) | |
|---|---|---|
| 1-year return | +28.4% | -17.8% |
| 5-year return | +41.5% | -95.6% |
| Volatility (ann.) | 19.8% | 58.1% |
| Beta vs S&P 500 | 1.06 | 1.55 |
| Max drawdown (3Y) | -27.5% | -80.5% |
| Market cap | – | $1.2B |
| 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 | TDOC |
|---|---|---|
| 2022 | -20.5% | -74.2% |
| 2023 | +16.8% | -8.9% |
| 2024 | +11.4% | -57.8% |
| 2025 | +12.7% | -23.0% |
| 2026 | +22.3% | -9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IWM and TDOC good diversifiers for each other?
Only partially. A correlation of 0.51 means IWM and TDOC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between IWM and TDOC?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.49 over the last year and 0.58 over 5 years.
Is TDOC a good diversifier for IWM?
Only partially. A correlation of 0.51 means IWM and TDOC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 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.
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Related comparisons
Hubs: IWM correlations · TDOC correlations
