AWP vs IRM: Correlation
Measured on weekly returns over the past three years, abrdn Global Premier Properties Fund (AWP) and Iron Mountain (IRM) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AWP and IRM?
Across a 3-year window, the weekly returns of AWP and IRM correlate at 0.52, moderate. Recent behaviour matches the longer record: 0.46 over 1 year against 0.52 over 3. Stretching to 5 years gives 0.57, with an annualized covariance of 368.7 %².
Within AWP's tracked universe of 16 assets, IRM comes in at #11 by 3-year correlation. Correlation aside, the last 12 months split them widely, with IRM ahead by 28.0 points (+10.1% versus +38.1%).
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.
AWP vs IRM: side by side
| AWP (abrdn Global Premier Properties Fund) | IRM (Iron Mountain) | |
|---|---|---|
| 1-year return | +10.1% | +38.1% |
| 5-year return | +2.9% | +219.3% |
| Volatility (ann.) | 23.0% | 30.8% |
| Beta vs S&P 500 | 0.73 | 0.96 |
| Max drawdown (3Y) | -23.1% | -39.0% |
| Market cap | $0.4B | $36.5B |
| P/E (trailing) | 6.6 | 86.4 |
| Dividend yield | 12.21% | 2.78% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | AWP | IRM |
|---|---|---|
| 2022 | -37.1% | -0.1% |
| 2023 | +12.6% | +46.5% |
| 2024 | +12.2% | +54.5% |
| 2025 | +12.4% | -18.2% |
| 2026 | +10.1% | +50.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AWP and IRM good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AWP and IRM?
The AWP/IRM correlation stands at 0.52 on a 3-year window (1 year: 0.46, 5 years: 0.57), computed from weekly returns as of 2026-08-27.
Is IRM a good diversifier for AWP?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 mean?
A reading of 0.52 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: AWP correlations · IRM correlations
