Iron Mountain Correlations

IRM Stock

USD 119.10 0.37 0.31%

The current 90-days correlation between Iron Mountain and Broadstone Net Lease is 0.35 (i.e., Weak 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

Good diversification

The correlation between Iron Mountain Incorporated and DJI is -0.17 (i.e., Good 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

0.62	EQIX	Equinix	Pair Corr
0.87	BXP	Boston Properties Sell-off Trend	Pair Corr
0.83	CDP	COPT Defense Properties	Pair Corr

Moving against Iron Stock

0.76	AHT	Ashford Hospitality Trust	Pair Corr
0.44	AIV	Apartment Investment and	Pair Corr
0.4	AMH	American Homes 4	Pair Corr
0.37	FR	First Industrial Realty	Pair Corr
0.32	PK	Park Hotels Resorts	Pair Corr
0.66	CSR	Centerspace	Pair Corr
0.66	EQC	Equity Commonwealth	Pair Corr
0.61	BRT	BRT Realty Trust	Pair Corr
0.51	CPT	Camden Property Trust	Pair Corr
0.47	LXP	LXP Industrial Trust	Pair Corr
0.35	EGP	EastGroup Properties	Pair Corr

Related Correlations Analysis

	BNL	AHH	BRSP	SAFE	EPRT	CTO	GOOD	WPC
BNL		0.24	-0.66	0.87	0.27	-0.36	-0.42	0.82	BNL
AHH	0.24		0.01	0.52	-0.33	-0.3	-0.59	0.43	AHH
BRSP	-0.66	0.01		-0.56	0.03	0.52	0.53	-0.51	BRSP
SAFE	0.87	0.52	-0.56		0.1	-0.55	-0.61	0.95	SAFE
EPRT	0.27	-0.33	0.03	0.1		0.29	0.58	0.24	EPRT
CTO	-0.36	-0.3	0.52	-0.55	0.29		0.74	-0.46	CTO
GOOD	-0.42	-0.59	0.53	-0.61	0.58	0.74		-0.47	GOOD
WPC	0.82	0.43	-0.51	0.95	0.24	-0.46	-0.47		WPC
	BNL	AHH	BRSP	SAFE	EPRT	CTO	GOOD	WPC

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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

WPC	+ 0.95	SAFE
SAFE	+ 0.87	BNL
WPC	+ 0.82	BNL
GOOD	+ 0.74	CTO
GOOD	+ 0.58	EPRT
GOOD	+ 0.53	BRSP

High negative correlations

BRSP	- 0.66	BNL
GOOD	- 0.61	SAFE
GOOD	- 0.59	AHH
SAFE	- 0.56	BRSP
CTO	- 0.55	SAFE
WPC	- 0.51	BRSP

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
BNL	0.78	(0.09)	0.00	(0.11)	0.00	0.00	1.59	(1.71)	5.03
AHH	0.97	(0.13)	0.00	(0.22)	0.00	0.00	1.63	(1.74)	11.25
BRSP	1.42	0.09	0.06	0.21	1.44	(1.60)	3.10	(2.74)	22.56
SAFE	1.43	(0.29)	0.00	(0.28)	0.00	0.00	2.70	(3.71)	10.10
EPRT	0.82	0.09	0.00	0.50	0.94	(0.88)	1.67	(1.77)	4.84
CTO	1.16	0.12	0.01	0.63	2.18	(1.22)	2.27	(1.39)	19.07
GOOD	0.89	0.22	0.17	0.67	0.60	(1.11)	1.94	(1.58)	8.00
WPC	0.79	(0.05)	0.00	(0.14)	0.00	0.00	1.73	(1.57)	4.41

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