IESC vs XPON: Correlation
IES Holdings, Inc. (IESC) and Expion360 Inc. (XPON) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IESC and XPON?
Across a 3-year window, the weekly returns of IESC and XPON correlate at -0.21, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.53) than the 3-year average (-0.21). Stretching to 5 years gives -0.08, with an annualized covariance of -2108.5 %².
By 3-year correlation, XPON places #10 of the 18 assets tracked against IESC. Their recent paths diverged sharply: over the last 12 months IESC outperformed by 53.8 percentage points (-6.2% for IESC against -60.0% for XPON). Risk is not evenly split, since XPON carries 2.1 times the volatility of the other side.
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 XPON: side by side
| IESC (IES Holdings, Inc.) | XPON (Expion360 Inc.) | |
|---|---|---|
| 1-year return | -6.2% | -60.0% |
| 5-year return | +580.8% | -99.9% |
| Volatility (ann.) | 68.3% | 144.0% |
| Beta vs S&P 500 | 1.67 | 1.37 |
| 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 | XPON |
|---|---|---|
| 2022 | -29.8% | – |
| 2023 | +122.7% | +134.3% |
| 2024 | +153.7% | -99.6% |
| 2025 | +93.6% | -71.6% |
| 2026 | -14.2% | -2.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IESC and XPON good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between IESC and XPON?
The IESC/XPON correlation stands at -0.21 on a 3-year window (1 year: -0.53, 5 years: -0.08), computed from weekly returns as of 2026-08-27.
Is XPON a good diversifier for IESC?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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-xpon.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/iesc-vs-xpon/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IESC correlations · XPON correlations
