IRM vs REG: Correlation
Iron Mountain (IRM) and Regency Centers (REG) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IRM and REG?
On 3 years of weekly data the IRM/REG correlation comes out at 0.45, moderate. The link has loosened recently: the 1-year correlation (0.28) runs below the 3-year figure (0.45). The 5-year figure is 0.54, and annualized covariance runs at 245.1 %².
Within IRM's tracked universe of 31 assets, REG comes in at #18 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months IRM outperformed by 29.7 percentage points (+38.1% for IRM against +8.4% for REG). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.25 to 0.84. Note the risk asymmetry: IRM runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 REG: side by side
| IRM (Iron Mountain) | REG (Regency Centers) | |
|---|---|---|
| 1-year return | +38.1% | +8.4% |
| 5-year return | +219.3% | +35.2% |
| Volatility (ann.) | 30.8% | 17.8% |
| Beta vs S&P 500 | 0.96 | 0.34 |
| Max drawdown (3Y) | -39.0% | -15.1% |
| Market cap | $36.5B | $14.1B |
| P/E (trailing) | 86.4 | 25.5 |
| Dividend yield | 2.78% | 3.89% |
| Sector / category | Real Estate | Real Estate |
Year-by-year returns
| Year | IRM | REG |
|---|---|---|
| 2022 | -0.1% | -13.6% |
| 2023 | +46.5% | +11.9% |
| 2024 | +54.5% | +14.9% |
| 2025 | -18.2% | -2.8% |
| 2026 | +50.1% | +11.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IRM and REG good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between IRM and REG?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.28 over the last year and 0.54 over 5 years.
Is REG a good diversifier for IRM?
Yes, to a useful degree: a correlation of 0.45 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.45 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-reg.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/irm-vs-reg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IRM correlations · REG correlations
