FRT vs IRM: Correlation
How closely do Federal Realty Investment Trust (FRT) and Iron Mountain (IRM) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRT and IRM?
On 3 years of weekly data the FRT/IRM correlation comes out at 0.47, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.35 versus 0.47 over 3 years. The 5-year figure is 0.56, and annualized covariance runs at 282.8 %².
By 3-year correlation, IRM places #30 of the 46 assets tracked against FRT. The last year tells two different stories: IRM led by 16.5 percentage points, +21.6% for FRT against +38.1% for IRM. Across three years, the rolling one-year figure varied moderately, from 0.35 to 0.80. Risk is not evenly split, since IRM carries 1.6 times the volatility of the other side.
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.
FRT vs IRM: side by side
| FRT (Federal Realty Investment Trust) | IRM (Iron Mountain) | |
|---|---|---|
| 1-year return | +21.6% | +38.1% |
| 5-year return | +18.8% | +219.3% |
| Volatility (ann.) | 19.5% | 30.8% |
| Beta vs S&P 500 | 0.53 | 0.96 |
| Max drawdown (3Y) | -27.4% | -39.0% |
| Market cap | $10.2B | $36.5B |
| P/E (trailing) | 23.6 | 86.4 |
| Dividend yield | 3.84% | 2.78% |
| Sector / category | Real Estate | Real Estate |
Year-by-year returns
| Year | FRT | IRM |
|---|---|---|
| 2022 | -22.7% | -0.1% |
| 2023 | +6.6% | +46.5% |
| 2024 | +12.1% | +54.5% |
| 2025 | -5.9% | -18.2% |
| 2026 | +19.7% | +50.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRT and IRM good diversifiers for each other?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FRT and IRM?
As of 2026-08-27, the correlation of weekly returns between FRT and IRM is 0.47 over 3 years, 0.35 over 1 year and 0.56 over 5 years.
Is IRM a good diversifier for FRT?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.47 mean?
On the −1 to +1 scale, 0.47 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: FRT correlations · IRM correlations
