IESC vs PWR: Correlation
How closely do IES Holdings, Inc. (IESC) and Quanta Services (PWR) trade together? Their weekly returns over three years give a correlation of 0.60, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IESC and PWR?
Across a 3-year window, the weekly returns of IESC and PWR correlate at 0.60, strong. The relationship has been stable: the 1-year correlation (0.51) sits close to the 3-year figure. Stretching to 5 years gives 0.54, with an annualized covariance of 1388.3 %².
Few assets follow IESC as closely as PWR, which ranks #3 of 18 tracked partners. The last year tells two different stories: PWR led by 69.3 percentage points, -6.2% for IESC against +63.1% for PWR. One caveat on sizing: IESC is 2.0 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.
IESC vs PWR: side by side
| IESC (IES Holdings, Inc.) | PWR (Quanta Services) | |
|---|---|---|
| 1-year return | -6.2% | +63.1% |
| 5-year return | +580.8% | +506.1% |
| Volatility (ann.) | 68.3% | 33.9% |
| Beta vs S&P 500 | 1.67 | 1.29 |
| Max drawdown (3Y) | -60.5% | -33.9% |
| Market cap | $13.3B | $93.5B |
| P/E (trailing) | 29.5 | 70.4 |
| Dividend yield | 0.00% | 0.07% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | IESC | PWR |
|---|---|---|
| 2022 | -29.8% | +24.6% |
| 2023 | +122.7% | +51.7% |
| 2024 | +153.7% | +46.6% |
| 2025 | +93.6% | +33.7% |
| 2026 | -14.2% | +47.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IESC and PWR good diversifiers for each other?
To a limited degree. At 0.60 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 IESC and PWR?
As of 2026-08-27, the correlation of weekly returns between IESC and PWR is 0.60 over 3 years, 0.51 over 1 year and 0.54 over 5 years.
Is PWR a good diversifier for IESC?
To a limited degree. At 0.60 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 0.60 mean?
On the −1 to +1 scale, 0.60 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/iesc-vs-pwr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/iesc-vs-pwr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IESC correlations · PWR correlations
