It seems possible (I know of no evidence for or against) that human bodies adapt slowly to differences in O2 and CO2 level. In that case, newcomers to Denver might be smarter or stupider for a while, but after (say) a few months they might be back to baseline, but short-term fluctuations (e.g., sitting for a few hours in an office with slightly depleted O2 and slightly raised O2) could still have detectable cognitive effects.