DY vs IESC: Correlation
Measured on weekly returns over the past three years, Dycom Industries, Inc. (DY) and IES Holdings, Inc. (IESC) carry a correlation of 0.46, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DY and IESC?
Across a 3-year window, the weekly returns of DY and IESC correlate at 0.46, moderate. The link has tightened recently: the 1-year correlation (0.60) runs above the 3-year figure (0.46). Stretching to 5 years gives 0.43, with an annualized covariance of 1359.1 %².
Among the 11 assets we track against DY, IESC ranks #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months DY outperformed by 26.7 percentage points (+20.5% for DY against -6.2% for IESC). One caveat on sizing: IESC is 1.6 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.
DY vs IESC: side by side
| DY (Dycom Industries, Inc.) | IESC (IES Holdings, Inc.) | |
|---|---|---|
| 1-year return | +20.5% | -6.2% |
| 5-year return | +304.3% | +580.8% |
| Volatility (ann.) | 43.4% | 68.3% |
| Beta vs S&P 500 | 0.97 | 1.67 |
| Max drawdown (3Y) | -42.4% | -60.5% |
| Market cap | $9.3B | $13.3B |
| P/E (trailing) | 28.4 | 29.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DY | IESC |
|---|---|---|
| 2022 | -0.2% | -29.8% |
| 2023 | +23.0% | +122.7% |
| 2024 | +51.2% | +153.7% |
| 2025 | +94.1% | +93.6% |
| 2026 | -8.8% | -14.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DY and IESC good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between DY and IESC?
The DY/IESC correlation stands at 0.46 on a 3-year window (1 year: 0.60, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is IESC a good diversifier for DY?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 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/dy-vs-iesc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/dy-vs-iesc/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DY correlations · IESC correlations
