IWM vs WSC: Correlation
iShares Russell 2000 ETF (IWM) and WillScot Holdings Corporation (WSC) show a strong relationship: their 3-year correlation of weekly returns is 0.63.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IWM and WSC?
Across a 3-year window, the weekly returns of IWM and WSC correlate at 0.63, strong. Little has changed lately, as the 1-year reading of 0.65 lands near the 3-year figure. Stretching to 5 years gives 0.61, with an annualized covariance of 573.3 %².
By 3-year correlation, WSC places #91 of the 320 assets tracked against IWM. Correlation aside, the last 12 months split them widely, with IWM ahead by 43.3 points (+28.4% versus -14.9%). One caveat on sizing: WSC is 2.3 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 WSC: side by side
| IWM (iShares Russell 2000 ETF) | WSC (WillScot Holdings Corporation) | |
|---|---|---|
| 1-year return | +28.4% | -14.9% |
| 5-year return | +41.5% | -27.7% |
| Volatility (ann.) | 19.8% | 45.9% |
| Beta vs S&P 500 | 1.06 | 1.72 |
| Max drawdown (3Y) | -27.5% | -70.7% |
| Market cap | – | $3.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.91% | 1.31% |
| 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 | WSC |
|---|---|---|
| 2022 | -20.5% | +10.6% |
| 2023 | +16.8% | -1.5% |
| 2024 | +11.4% | -24.8% |
| 2025 | +12.7% | -43.1% |
| 2026 | +22.3% | +11.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IWM and WSC good diversifiers for each other?
Only partially. A correlation of 0.63 means IWM and WSC 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 WSC?
As of 2026-08-27, the correlation of weekly returns between IWM and WSC is 0.63 over 3 years, 0.65 over 1 year and 0.61 over 5 years.
Is WSC a good diversifier for IWM?
Only partially. A correlation of 0.63 means IWM and WSC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.63 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-wsc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/iwm-vs-wsc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IWM correlations · WSC correlations
