IWM vs BLK
- 3 of 19 forces clearly differ
- Data through Oct 30, 2026
- Market move removed first
IWM and BLK clearly differ on 3 of 19 forces. The widest gap is euro: in weeks when the euro rose 2% against the U.S. dollar, IWM typically moved −1.5% and BLK +1.3%.
| Economic force | IWMiShares Russell 2000 ETF | BLKBlackRock |
|---|---|---|
| Interest ratesIn weeks when the 10-year Treasury yield rose 0.25 percentage points | −1.8%−2.4% to −1.2%Clear | −1.2%−2.5% to −0.01%Tentative |
| Inflation expectationsIn weeks when 10-year inflation expectations rose 0.25 percentage points | +3.7%+1.7% to +5.7%Clear | +3.3%+1.3% to +5.3%Clear |
| U.S. dollarIn weeks when the trade-weighted U.S. dollar rose 2% | −0.55%−1.3% to +0.17%Not distinguishable from zero | −1.0%−2.1% to +0.07%Not distinguishable from zero |
| Oil and energyIn weeks when the price of oil rose 10% | −0.33%−0.77% to +0.11%Not distinguishable from zero | −0.71%−1.6% to +0.17%Not distinguishable from zero |
| Credit spreadsIn weeks when corporate credit spreads widened 0.25 percentage points | −0.94%−2.2% to +0.28%Not distinguishable from zero | −1.0%−2.9% to +0.89%Not distinguishable from zero |
| Short-term ratesIn weeks when the 2-year Treasury yield rose 0.25 percentage points | −0.38%−1.5% to +0.69%Not distinguishable from zero | −2.1%−3.8% to −0.46%Tentative |
| Market volatilityIn weeks when market volatility (the VIX) rose 5 points | −0.82%−1.3% to −0.37%Tentative | −0.48%−1.2% to +0.27%Not distinguishable from zero |
| Mortgage ratesIn weeks when the 30-year mortgage rate rose 0.25 percentage points | +0.43%−0.27% to +1.1%Not distinguishable from zero | +0.04%−0.77% to +0.85%Not distinguishable from zero |
| GoldIn weeks when the price of gold rose 5% | −0.02%−0.45% to +0.40%Not distinguishable from zero | −0.47%−1.2% to +0.22%Not distinguishable from zero |
| CopperIn weeks when the price of copper rose 5% | −0.04%−0.40% to +0.33%Not distinguishable from zero | −0.37%−0.90% to +0.17%Not distinguishable from zero |
| Natural gasIn weeks when the U.S. natural gas price (Henry Hub) rose 10% | −0.01%−0.03% to +0.01%Not distinguishable from zero | −0.03%−0.04% to −0.02%Clear |
| BitcoinIn weeks when the price of bitcoin rose 10% | +0.44%+0.05% to +0.84%Tentative | +0.25%−0.40% to +0.90%Not distinguishable from zero |
| Small vs large companiesIn weeks when small companies beat large ones by 1 percentage pointClear difference | +1.0%+1.0% to +1.1%Clear | +0.20%−0.01% to +0.41%Not distinguishable from zero |
| Value vs growthIn weeks when value stocks beat growth stocks by 1 percentage point | +0.54%+0.38% to +0.70%Clear | +0.50%+0.27% to +0.73%Clear |
| MomentumIn weeks when recent winners beat the stock market by 1 percentage point | +0.12%−0.04% to +0.27%Not distinguishable from zero | −0.29%−0.59% to +0.01%Not distinguishable from zero |
| EuroIn weeks when the euro rose 2% against the U.S. dollarClear difference | −1.5%−2.5% to −0.50%Tentative | +1.3%−0.22% to +2.8%Not distinguishable from zero |
| Japanese yenIn weeks when the yen rose 2% against the U.S. dollar | +0.06%−0.39% to +0.51%Not distinguishable from zero | +0.26%−0.49% to +1.0%Not distinguishable from zero |
| Emerging marketsIn weeks when emerging-market stocks beat the S&P 500 by 1 percentage point | +0.14%+0.01% to +0.26%Tentative | −0.05%−0.27% to +0.18%Not distinguishable from zero |
| ChinaIn weeks when Chinese stocks beat other emerging markets by 1 percentage pointClear difference | −0.07%−0.13% to −0.01%Tentative | +0.14%+0.02% to +0.26%Tentative |
Each figure is the stock's typical move in a week when the force moved by the stated amount, after accounting for the stock market, with its 90% range beneath. Grey figures could not be told apart from zero. A row is marked a clear difference only when the two 90% ranges do not overlap.
This describes the past, and it is not a forecast. Relationships change, and nothing here is a recommendation to buy, sell or hold any security.