Iron Mountain Correlations

IRM Stock

USD 87.08 0.79 0.90%

The current 90-days correlation between Iron Mountain and Equinix is 0.67 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Iron Mountain moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Iron Mountain Incorporated moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Iron Mountain Correlation With Market

Weak diversification

The correlation between Iron Mountain Incorporated and DJI is 0.31 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Iron Mountain Incorporated and DJI in the same portfolio, assuming nothing else is changed.

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Iron Mountain Incorporated. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Iron Stock

0.87	PK	Park Hotels Resorts	Pair Corr
0.75	EQIX	Equinix	Pair Corr
0.72	ESBA	Empire State Realty	Pair Corr
0.83	ESRT	Empire State Realty	Pair Corr
0.76	WHLR	Wheeler Real Estate	Pair Corr
0.82	FISK	Empire State Realty	Pair Corr
0.79	AAT	American Assets Trust	Pair Corr
0.81	AHH	Armada Hflr Pr	Pair Corr
0.85	BDN	Brandywine Realty Trust	Pair Corr
0.83	BXP	Boston Properties	Pair Corr
0.88	CDP	COPT Defense Properties	Pair Corr

Moving against Iron Stock

0.87	ELME	Elme Communities	Pair Corr
0.86	VICI	VICI Properties	Pair Corr
0.8	O	Realty Income	Pair Corr
0.77	WELL	Welltower	Pair Corr
0.67	FR	First Industrial Realty	Pair Corr
0.35	HR	Healthcare Realty Trust	Pair Corr
0.31	WY	Weyerhaeuser	Pair Corr
0.83	ALX	Alexanders	Pair Corr
0.81	AMT	American Tower Corp	Pair Corr
0.73	ADC	Agree Realty	Pair Corr
0.63	FCPT	Four Corners Property	Pair Corr
0.46	AHR	American Healthcare REIT,	Pair Corr
0.73	BNL	Broadstone Net Lease	Pair Corr
0.72	CPT	Camden Property Trust	Pair Corr
0.66	CCI	Crown Castle	Pair Corr
0.63	DHC	Diversified Healthcare	Pair Corr
0.42	BRT	BRT Realty Trust	Pair Corr
0.35	CSR	Centerspace	Pair Corr

Related Correlations Analysis

	EQIX	CCI	AMT	HASI	DLR	SBAC	GLPI
EQIX		-0.75	-0.76	-0.63	0.8	-0.65	-0.64	EQIX
CCI	-0.75		0.88	0.71	-0.67	0.83	0.85	CCI
AMT	-0.76	0.88		0.81	-0.84	0.96	0.93	AMT
HASI	-0.63	0.71	0.81		-0.74	0.77	0.82	HASI
DLR	0.8	-0.67	-0.84	-0.74		-0.8	-0.78	DLR
SBAC	-0.65	0.83	0.96	0.77	-0.8		0.89	SBAC
GLPI	-0.64	0.85	0.93	0.82	-0.78	0.89		GLPI
	EQIX	CCI	AMT	HASI	DLR	SBAC	GLPI

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

SBAC	+ 0.96	AMT
GLPI	+ 0.93	AMT
GLPI	+ 0.89	SBAC
AMT	+ 0.88	CCI
GLPI	+ 0.85	CCI
SBAC	+ 0.83	CCI

High negative correlations

DLR	- 0.84	AMT
SBAC	- 0.8	DLR
GLPI	- 0.78	DLR
AMT	- 0.76	EQIX
CCI	- 0.75	EQIX
DLR	- 0.74	HASI

Risk-Adjusted Indicators

There is a big difference between Iron Stock performing well and Iron Mountain Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Iron Mountain's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
EQIX	1.22	(0.19)	0.00	(0.22)	0.00	0.00	2.14	(3.59)	7.54
CCI	1.38	0.12	0.07	0.23	1.63	(1.39)	2.68	(2.51)	12.32
AMT	1.30	0.14	0.08	0.37	1.59	(1.31)	2.59	(2.66)	8.07
HASI	1.49	0.06	0.03	1.07	1.76	(1.55)	3.85	(2.97)	7.92
DLR	1.55	(0.28)	0.00	(0.27)	0.00	0.00	2.88	(4.16)	11.70
SBAC	1.22	0.05	0.03	0.14	1.56	(1.21)	2.98	(2.92)	8.65
GLPI	0.94	0.07	0.06	0.13	1.11	(0.97)	2.28	(1.82)	4.97

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