GAME vs IESC: Correlation
Measured on weekly returns over the past three years, GameSquare Holdings, Inc. (GAME) and IES Holdings, Inc. (IESC) carry a correlation of -0.40, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GAME and IESC?
Across a 3-year window, the weekly returns of GAME and IESC correlate at -0.40, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.65) than the 3-year average (-0.40). Stretching to 5 years gives -0.36, with an annualized covariance of -10844.6 %².
IESC is close to the least connected end of GAME's tracked universe, ranking #10 of 10. The last year tells two different stories: GAME led by 313.3 percentage points, +307.1% for GAME against -6.2% for IESC. One caveat on sizing: GAME is 5.8 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.
GAME vs IESC: side by side
| GAME (GameSquare Holdings, Inc.) | IESC (IES Holdings, Inc.) | |
|---|---|---|
| 1-year return | +307.1% | -6.2% |
| 5-year return | -88.4% | +580.8% |
| Volatility (ann.) | 398.8% | 68.3% |
| Beta vs S&P 500 | 1.64 | 1.67 |
| Max drawdown (3Y) | -90.7% | -60.5% |
| Market cap | – | $13.3B |
| P/E (trailing) | – | 29.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GAME | IESC |
|---|---|---|
| 2022 | -67.8% | -29.8% |
| 2023 | -53.8% | +122.7% |
| 2024 | -54.4% | +153.7% |
| 2025 | -53.3% | +93.6% |
| 2026 | +736.4% | -14.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GAME and IESC good diversifiers for each other?
Yes: at -0.40, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between GAME and IESC?
As of 2026-08-27, the correlation of weekly returns between GAME and IESC is -0.40 over 3 years, -0.65 over 1 year and -0.36 over 5 years.
Is IESC a good diversifier for GAME?
Yes: at -0.40, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.40 mean?
A reading of -0.40 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/game-vs-iesc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/game-vs-iesc/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GAME correlations · IESC correlations
