IRM vs RFI: Correlation
Measured on weekly returns over the past three years, Iron Mountain (IRM) and Cohen & Steers Total Return Realty Fund, Inc. (RFI) 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 RFI?
Over the past 3 years, IRM and RFI moved with a correlation of 0.56, which is moderate. Recent behaviour matches the longer record: 0.58 over 1 year against 0.56 over 3. Over 5 years the correlation is 0.58, and the annualized covariance of weekly returns is 314.2 %².
Within IRM's tracked universe of 31 assets, RFI comes in at #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months IRM outperformed by 34.4 percentage points (+38.1% for IRM against +3.7% for RFI). One caveat on sizing: IRM is 1.7 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.
IRM vs RFI: side by side
| IRM (Iron Mountain) | RFI (Cohen & Steers Total Return Realty Fund, Inc.) | |
|---|---|---|
| 1-year return | +38.1% | +3.7% |
| 5-year return | +219.3% | +5.1% |
| Volatility (ann.) | 30.8% | 18.1% |
| Beta vs S&P 500 | 0.96 | 0.57 |
| Max drawdown (3Y) | -39.0% | -16.2% |
| Market cap | $36.5B | – |
| P/E (trailing) | 86.4 | 27.1 |
| Dividend yield | 2.78% | 8.41% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | IRM | RFI |
|---|---|---|
| 2022 | -0.1% | -22.1% |
| 2023 | +46.5% | +4.4% |
| 2024 | +54.5% | +6.6% |
| 2025 | -18.2% | +3.6% |
| 2026 | +50.1% | +8.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IRM and RFI good diversifiers for each other?
Only partially. A correlation of 0.56 means IRM and RFI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between IRM and RFI?
As of 2026-08-27, the correlation of weekly returns between IRM and RFI is 0.56 over 3 years, 0.58 over 1 year and 0.58 over 5 years.
Is RFI a good diversifier for IRM?
Only partially. A correlation of 0.56 means IRM and RFI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.56 mean?
On the −1 to +1 scale, 0.56 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-rfi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/irm-vs-rfi/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IRM correlations · RFI correlations
