IRM vs RSP: Correlation
Measured on weekly returns over the past three years, Iron Mountain (IRM) and Invesco S&P 500 Equal Weight ETF (RSP) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IRM and RSP?
Over the past 3 years, IRM and RSP moved with a correlation of 0.52, which is moderate. The link has loosened recently: the 1-year correlation (0.35) runs below the 3-year figure (0.52). Over 5 years the correlation is 0.59, and the annualized covariance of weekly returns is 212.3 %².
By 3-year correlation, RSP places #15 of the 31 assets tracked against IRM. The last year tells two different stories: IRM led by 18.9 percentage points, +38.1% for IRM against +19.2% for RSP. The rolling one-year correlation moved between 0.35 and 0.83 over the past three years, a moderate range. One caveat on sizing: IRM is 2.3 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 RSP: side by side
| IRM (Iron Mountain) | RSP (Invesco S&P 500 Equal Weight ETF) | |
|---|---|---|
| 1-year return | +38.1% | +19.2% |
| 5-year return | +219.3% | +53.9% |
| Volatility (ann.) | 30.8% | 13.2% |
| Beta vs S&P 500 | 0.96 | 0.77 |
| Max drawdown (3Y) | -39.0% | -17.8% |
| Market cap | $36.5B | – |
| P/E (trailing) | 86.4 | – |
| Dividend yield | 2.78% | 1.49% |
| Expense ratio | – | 0.20% |
| Assets under management | – | $97.3B |
| Sector / category | Real Estate | ETF · US Large Cap |
On the fund side, RSP sits in the Large Blend category at Invesco, with $97.3B under management, 505 holdings, a 0.20% expense ratio, a 1.49% trailing dividend yield.
Year-by-year returns
| Year | IRM | RSP |
|---|---|---|
| 2022 | -0.1% | -11.6% |
| 2023 | +46.5% | +13.7% |
| 2024 | +54.5% | +12.8% |
| 2025 | -18.2% | +11.2% |
| 2026 | +50.1% | +16.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.18% of RSP is IRM itself, so the fund partly moves with the stock by construction.
Are IRM and RSP good diversifiers for each other?
To a limited degree. At 0.52 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 RSP?
As of 2026-08-27, the correlation of weekly returns between IRM and RSP is 0.52 over 3 years, 0.35 over 1 year and 0.59 over 5 years.
Is RSP a good diversifier for IRM?
To a limited degree. At 0.52 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 0.52 mean?
On the −1 to +1 scale, 0.52 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-rsp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/irm-vs-rsp/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IRM correlations · RSP correlations
