IRM vs PWR: Correlation
Measured on weekly returns over the past three years, Iron Mountain (IRM) and Quanta Services (PWR) carry a correlation of 0.56, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IRM and PWR?
Across a 3-year window, the weekly returns of IRM and PWR correlate at 0.56, moderate. The link has loosened recently: the 1-year correlation (0.45) runs below the 3-year figure (0.56). Stretching to 5 years gives 0.52, with an annualized covariance of 584.6 %².
Among the 31 assets we track against IRM, PWR ranks #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PWR outperformed by 25.0 percentage points (+38.1% for IRM against +63.1% for PWR). Across three years, the rolling one-year figure varied moderately, from 0.38 to 0.80.
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 PWR: side by side
| IRM (Iron Mountain) | PWR (Quanta Services) | |
|---|---|---|
| 1-year return | +38.1% | +63.1% |
| 5-year return | +219.3% | +506.1% |
| Volatility (ann.) | 30.8% | 33.9% |
| Beta vs S&P 500 | 0.96 | 1.29 |
| Max drawdown (3Y) | -39.0% | -33.9% |
| Market cap | $36.5B | $93.5B |
| P/E (trailing) | 86.4 | 70.4 |
| Dividend yield | 2.78% | 0.07% |
| Sector / category | Real Estate | Industrials |
Year-by-year returns
| Year | IRM | PWR |
|---|---|---|
| 2022 | -0.1% | +24.6% |
| 2023 | +46.5% | +51.7% |
| 2024 | +54.5% | +46.6% |
| 2025 | -18.2% | +33.7% |
| 2026 | +50.1% | +47.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IRM and PWR good diversifiers for each other?
To a limited degree. At 0.56 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between IRM and PWR?
As of 2026-08-27, the correlation of weekly returns between IRM and PWR is 0.56 over 3 years, 0.45 over 1 year and 0.52 over 5 years.
Is PWR a good diversifier for IRM?
To a limited degree. At 0.56 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.56 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/irm-vs-pwr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/irm-vs-pwr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IRM correlations · PWR correlations
