IESC vs VCIG: Correlation
How closely do IES Holdings, Inc. (IESC) and VCI Global Limited (VCIG) trade together? Their weekly returns over three years give a correlation of -0.37, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IESC and VCIG?
Across a 3-year window, the weekly returns of IESC and VCIG correlate at -0.37, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.60) than the 3-year average (-0.37). Stretching to 5 years gives n/a, with an annualized covariance of -18966.5 %².
By 3-year correlation, VCIG places #12 of the 18 assets tracked against IESC. The last year tells two different stories: IESC led by 93.6 percentage points, -6.2% for IESC against -99.8% for VCIG. Note the risk asymmetry: VCIG runs 11.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 VCIG: side by side
| IESC (IES Holdings, Inc.) | VCIG (VCI Global Limited) | |
|---|---|---|
| 1-year return | -6.2% | -99.8% |
| 5-year return | +580.8% | n/a |
| Volatility (ann.) | 68.3% | 754.7% |
| Beta vs S&P 500 | 1.67 | 3.93 |
| Max drawdown (3Y) | -60.5% | -100.0% |
| 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 | IESC | VCIG |
|---|---|---|
| 2022 | -29.8% | – |
| 2023 | +122.7% | – |
| 2024 | +153.7% | -98.4% |
| 2025 | +93.6% | -99.9% |
| 2026 | -14.2% | -91.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IESC and VCIG good diversifiers for each other?
Yes. With a correlation of -0.37, IESC and VCIG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between IESC and VCIG?
The IESC/VCIG correlation stands at -0.37 on a 3-year window (1 year: -0.60, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is VCIG a good diversifier for IESC?
Yes. With a correlation of -0.37, IESC and VCIG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.37 mean?
On the −1 to +1 scale, -0.37 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.
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Related comparisons
Hubs: IESC correlations · VCIG correlations
