EQIX vs IRM: Correlation
Measured on weekly returns over the past three years, Equinix (EQIX) and Iron Mountain (IRM) carry a correlation of 0.62, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQIX and IRM?
Over the past 3 years, EQIX and IRM moved with a correlation of 0.62, which is strong. Little has changed lately, as the 1-year reading of 0.65 lands near the 3-year figure. Over 5 years the correlation is 0.61, and the annualized covariance of weekly returns is 464.2 %².
In EQIX's tracked universe of 30 assets, IRM sits right near the top at #2. Neither side won the trailing year by much: +39.1% against +38.1%. Stability stands out here, with the rolling one-year correlation confined to 0.50 through 0.71.
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.
EQIX vs IRM: side by side
| EQIX (Equinix) | IRM (Iron Mountain) | |
|---|---|---|
| 1-year return | +39.1% | +38.1% |
| 5-year return | +41.6% | +219.3% |
| Volatility (ann.) | 24.4% | 30.8% |
| Beta vs S&P 500 | 0.63 | 0.96 |
| Max drawdown (3Y) | -24.6% | -39.0% |
| Market cap | $106.2B | $36.5B |
| P/E (trailing) | 69.4 | 86.4 |
| Dividend yield | 1.82% | 2.78% |
| Sector / category | Real Estate | Real Estate |
Year-by-year returns
| Year | EQIX | IRM |
|---|---|---|
| 2022 | -21.1% | -0.1% |
| 2023 | +25.4% | +46.5% |
| 2024 | +19.5% | +54.5% |
| 2025 | -16.9% | -18.2% |
| 2026 | +42.6% | +50.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQIX and IRM good diversifiers for each other?
Only partially. A correlation of 0.62 means EQIX and IRM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between EQIX and IRM?
As of 2026-08-27, the correlation of weekly returns between EQIX and IRM is 0.62 over 3 years, 0.65 over 1 year and 0.61 over 5 years.
Is IRM a good diversifier for EQIX?
Only partially. A correlation of 0.62 means EQIX and IRM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.62 mean?
A reading of 0.62 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: EQIX correlations · IRM correlations
