FOXX vs IRM: Correlation
Measured on weekly returns over the past three years, Foxx Development Holdings Inc. (FOXX) and Iron Mountain (IRM) carry a correlation of -0.16, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FOXX and IRM?
Across a 3-year window, the weekly returns of FOXX and IRM correlate at -0.16, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.14) sits close to the 3-year figure. Stretching to 5 years gives -0.14, with an annualized covariance of -534.6 %².
Within FOXX's tracked universe of 25 assets, IRM comes in at #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months IRM outperformed by 92.4 percentage points (-54.3% for FOXX against +38.1% for IRM). One caveat on sizing: FOXX is 3.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
FOXX vs IRM: side by side
| FOXX (Foxx Development Holdings Inc.) | IRM (Iron Mountain) | |
|---|---|---|
| 1-year return | -54.3% | +38.1% |
| 5-year return | n/a | +219.3% |
| Volatility (ann.) | 108.9% | 30.8% |
| Beta vs S&P 500 | -0.69 | 0.96 |
| Max drawdown (3Y) | -87.3% | -39.0% |
| Market cap | – | $36.5B |
| P/E (trailing) | – | 86.4 |
| Dividend yield | 0.00% | 2.78% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | FOXX | IRM |
|---|---|---|
| 2022 | – | -0.1% |
| 2023 | +8.2% | +46.5% |
| 2024 | -48.4% | +54.5% |
| 2025 | -18.7% | -18.2% |
| 2026 | -40.9% | +50.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FOXX and IRM good diversifiers for each other?
Yes. With a correlation of -0.16, FOXX and IRM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FOXX and IRM?
The FOXX/IRM correlation stands at -0.16 on a 3-year window (1 year: -0.14, 5 years: -0.14), computed from weekly returns as of 2026-08-27.
Is IRM a good diversifier for FOXX?
Yes. With a correlation of -0.16, FOXX and IRM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.16 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: FOXX correlations · IRM correlations
