IESC vs MTZ: Correlation
Measured on weekly returns over the past three years, IES Holdings, Inc. (IESC) and MasTec, Inc. (MTZ) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IESC and MTZ?
Across a 3-year window, the weekly returns of IESC and MTZ correlate at 0.53, moderate. The link has loosened recently: the 1-year correlation (0.34) runs below the 3-year figure (0.53). Stretching to 5 years gives 0.47, with an annualized covariance of 1666.1 %².
By 3-year correlation, MTZ places #5 of the 18 assets tracked against IESC. The last year tells two different stories: MTZ led by 45.7 percentage points, -6.2% for IESC against +39.5% for MTZ.
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.
IESC vs MTZ: side by side
| IESC (IES Holdings, Inc.) | MTZ (MasTec, Inc.) | |
|---|---|---|
| 1-year return | -6.2% | +39.5% |
| 5-year return | +580.8% | +170.8% |
| Volatility (ann.) | 68.3% | 45.9% |
| Beta vs S&P 500 | 1.67 | 1.37 |
| Max drawdown (3Y) | -60.5% | -52.8% |
| Market cap | $13.3B | $20.2B |
| P/E (trailing) | 29.5 | 40.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IESC | MTZ |
|---|---|---|
| 2022 | -29.8% | -7.5% |
| 2023 | +122.7% | -11.3% |
| 2024 | +153.7% | +79.8% |
| 2025 | +93.6% | +59.7% |
| 2026 | -14.2% | +15.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IESC and MTZ good diversifiers for each other?
Only partially. A correlation of 0.53 means IESC and MTZ 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 IESC and MTZ?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.34 over the last year and 0.47 over 5 years.
Is MTZ a good diversifier for IESC?
Only partially. A correlation of 0.53 means IESC and MTZ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.53 mean?
A reading of 0.53 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/iesc-vs-mtz.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/iesc-vs-mtz/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IESC correlations · MTZ correlations
