IWM vs WWW: Correlation
How closely do iShares Russell 2000 ETF (IWM) and Wolverine World Wide, Inc. (WWW) trade together? Their weekly returns over three years give a correlation of 0.53, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IWM and WWW?
Across a 3-year window, the weekly returns of IWM and WWW correlate at 0.53, moderate. Recent behaviour matches the longer record: 0.50 over 1 year against 0.53 over 3. Stretching to 5 years gives 0.52, with an annualized covariance of 594.7 %².
By 3-year correlation, WWW places #201 of the 320 assets tracked against IWM. Their recent paths diverged sharply: over the last 12 months IWM outperformed by 64.8 percentage points (+28.4% for IWM against -36.4% for WWW). Risk is not evenly split, since WWW 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 WWW: side by side
| IWM (iShares Russell 2000 ETF) | WWW (Wolverine World Wide, Inc.) | |
|---|---|---|
| 1-year return | +28.4% | -36.4% |
| 5-year return | +41.5% | -38.6% |
| Volatility (ann.) | 19.8% | 57.1% |
| Beta vs S&P 500 | 1.06 | 1.60 |
| Max drawdown (3Y) | -27.5% | -58.0% |
| Market cap | – | $1.6B |
| P/E (trailing) | – | 15.7 |
| Dividend yield | 0.91% | 1.99% |
| 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 | WWW |
|---|---|---|
| 2022 | -20.5% | -61.1% |
| 2023 | +16.8% | -15.6% |
| 2024 | +11.4% | +155.3% |
| 2025 | +12.7% | -16.5% |
| 2026 | +22.3% | +10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
WWW represents 0.05% of IWM's portfolio, so part of any move in IWM is WWW itself, and the correlation between them is partly mechanical.
Are IWM and WWW 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 WWW?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.50 over the last year and 0.52 over 5 years.
Is WWW 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-www.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/iwm-vs-www/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IWM correlations · WWW correlations
