IWM vs TFIN: Correlation
Measured on weekly returns over the past three years, iShares Russell 2000 ETF (IWM) and Triumph Financial, Inc. (TFIN) carry a correlation of 0.64, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IWM and TFIN?
On 3 years of weekly data the IWM/TFIN correlation comes out at 0.64, strong. The past 12 months show a weaker link (0.51) than the 3-year average (0.64). The 5-year figure is 0.63, and annualized covariance runs at 543.0 %².
Within IWM's tracked universe of 320 assets, TFIN comes in at #79 by 3-year correlation. Over the last 12 months IWM came out ahead by 12.9 percentage points (+28.4% against +15.5%). One caveat on sizing: TFIN is 2.1 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 TFIN: side by side
| IWM (iShares Russell 2000 ETF) | TFIN (Triumph Financial, Inc.) | |
|---|---|---|
| 1-year return | +28.4% | +15.5% |
| 5-year return | +41.5% | -12.0% |
| Volatility (ann.) | 19.8% | 42.5% |
| Beta vs S&P 500 | 1.06 | 1.30 |
| Max drawdown (3Y) | -27.5% | -57.6% |
| Market cap | – | $1.7B |
| P/E (trailing) | – | 49.6 |
| 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 | TFIN |
|---|---|---|
| 2022 | -20.5% | -59.0% |
| 2023 | +16.8% | +64.1% |
| 2024 | +11.4% | +13.3% |
| 2025 | +12.7% | -31.1% |
| 2026 | +22.3% | +14.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
Keep in mind that IWM holds TFIN at a 0.05% weight, which makes a slice of this correlation mechanical rather than coincidental.
Are IWM and TFIN good diversifiers for each other?
To a limited degree. At 0.64 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 TFIN?
As of 2026-08-27, the correlation of weekly returns between IWM and TFIN is 0.64 over 3 years, 0.51 over 1 year and 0.63 over 5 years.
Is TFIN a good diversifier for IWM?
To a limited degree. At 0.64 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 0.64 mean?
On the −1 to +1 scale, 0.64 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-tfin.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/iwm-vs-tfin/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IWM correlations · TFIN correlations
