IRM vs PPCB: Correlation
Iron Mountain (IRM) and Propanc Biopharma, Inc. (PPCB) show a negative relationship: their 3-year correlation of weekly returns is -0.17.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IRM and PPCB?
Across a 3-year window, the weekly returns of IRM and PPCB correlate at -0.17, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.08 versus -0.17 over 3 years. Stretching to 5 years gives -0.13, with an annualized covariance of -5095127.6 %².
Within IRM's tracked universe of 31 assets, PPCB comes in at #24 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months IRM outperformed by 135.1 percentage points (+38.1% for IRM against -97.0% for PPCB). Risk is not evenly split, since PPCB carries 31240.1 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.
IRM vs PPCB: side by side
| IRM (Iron Mountain) | PPCB (Propanc Biopharma, Inc.) | |
|---|---|---|
| 1-year return | +38.1% | -97.0% |
| 5-year return | +219.3% | -99.9% |
| Volatility (ann.) | 30.8% | 962193.8% |
| Beta vs S&P 500 | 0.96 | -3746.20 |
| Max drawdown (3Y) | -39.0% | -99.8% |
| Market cap | $36.5B | – |
| P/E (trailing) | 86.4 | 0.0 |
| Dividend yield | 2.78% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | IRM | PPCB |
|---|---|---|
| 2022 | -0.1% | -98.6% |
| 2023 | +46.5% | -98.0% |
| 2024 | +54.5% | -98.3% |
| 2025 | -18.2% | +134050.0% |
| 2026 | +50.1% | -83.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IRM and PPCB good diversifiers for each other?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between IRM and PPCB?
The IRM/PPCB correlation stands at -0.17 on a 3-year window (1 year: 0.08, 5 years: -0.13), computed from weekly returns as of 2026-08-27.
Is PPCB a good diversifier for IRM?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.17 mean?
On the −1 to +1 scale, -0.17 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/irm-vs-ppcb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/irm-vs-ppcb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IRM correlations · PPCB correlations
