IWM vs VCEL: Correlation
Measured on weekly returns over the past three years, iShares Russell 2000 ETF (IWM) and Vericel Corporation (VCEL) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IWM and VCEL?
Across a 3-year window, the weekly returns of IWM and VCEL correlate at 0.51, moderate. The past 12 months show a weaker link (0.32) than the 3-year average (0.51). Stretching to 5 years gives 0.50, with an annualized covariance of 421.7 %².
By 3-year correlation, VCEL places #225 of the 320 assets tracked against IWM. On 12-month performance IWM holds a 13.7-point edge, +28.4% against +14.7%. One caveat on sizing: VCEL 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 VCEL: side by side
| IWM (iShares Russell 2000 ETF) | VCEL (Vericel Corporation) | |
|---|---|---|
| 1-year return | +28.4% | +14.7% |
| 5-year return | +41.5% | -26.0% |
| Volatility (ann.) | 19.8% | 41.9% |
| Beta vs S&P 500 | 1.06 | 1.00 |
| Max drawdown (3Y) | -27.5% | -52.5% |
| Market cap | – | $2.1B |
| P/E (trailing) | – | 87.6 |
| Dividend yield | 0.91% | 0.00% |
| Expense ratio | 0.19% | – |
| Assets under management | $80.1B | – |
| Sector / category | ETF · US Small & Mid Cap | US Listed |
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 | VCEL |
|---|---|---|
| 2022 | -20.5% | -33.0% |
| 2023 | +16.8% | +35.2% |
| 2024 | +11.4% | +54.2% |
| 2025 | +12.7% | -34.4% |
| 2026 | +22.3% | +14.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
VCEL represents 0.07% of IWM's portfolio, so part of any move in IWM is VCEL itself, and the correlation between them is partly mechanical.
Are IWM and VCEL good diversifiers for each other?
Only partially. A correlation of 0.51 means IWM and VCEL 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 VCEL?
As of 2026-08-27, the correlation of weekly returns between IWM and VCEL is 0.51 over 3 years, 0.32 over 1 year and 0.50 over 5 years.
Is VCEL a good diversifier for IWM?
Only partially. A correlation of 0.51 means IWM and VCEL 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?
A reading of 0.51 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-vcel.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/iwm-vs-vcel/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IWM correlations · VCEL correlations
