BNB / IWM
BNB and iShares Russell 2000 ETF correlation is 0.19 over 90 days both markets printed a close, ending 2026-10-23. In this window they barely share a move.
The 30-close correlation is 0.22, close to the 90-close print of 0.19. Crypto trades on weekends and these ETFs do not. This correlation keeps only dates both sides printed a close, so it is not comparable to a crypto-to-crypto page.
BNB 90-close vol is 40.9%. IWM is 13.7%. A 50/50 book of the two annualized vols would have realized about 22.8%, against 27.3% if you averaged the two vols with no diversification.
FAQ
0.19 over 90 days both markets printed a close, ending 2026-10-23. In this window they barely share a move.
The 30-close correlation is 0.22, close to the 90-close print of 0.19.
Using the 90-close vols and this correlation, a 50/50 book would have realized about 22.8%. Compare that with holding either name alone.
This print uses days both markets printed a close and log-return correlation on the aligned window. A site that uses weekly returns, a different session calendar, or a longer sample will not match it. The method is on this page.
BNB volatility
90-close vol 40.9%.
iShares Russell 2000 ETF volatility
90-close vol 13.7%.
Correlation matrix
The full book, not just this pair.
Risk parity optimizer
Weights that stop the higher-vol name from owning the book.
Diversification ratio
How much of the standalone vol a mix actually cancels.
BTC and BNB
Another pair in the same universe.
ETH and BNB
Another pair in the same universe.
SOL and BNB
Another pair in the same universe.
XRP and BNB
Another pair in the same universe.
This page is the market path. Thrive is the book you actually held, so you can see whether the hedge was real.