IHS vs TBCH: Correlation
IHS Holding Limited (IHS) and Turtle Beach Corporation (TBCH) show a moderate relationship: their 3-year correlation of weekly returns is 0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IHS and TBCH?
Across a 3-year window, the weekly returns of IHS and TBCH correlate at 0.39, moderate. The past 12 months show a weaker link (0.13) than the 3-year average (0.39). Stretching to 5 years gives 0.39, with an annualized covariance of 1250.2 %².
Few assets follow IHS as closely as TBCH, which ranks #1 of 10 tracked partners. The last year tells two different stories: IHS led by 31.8 percentage points, +15.2% for IHS against -16.6% for TBCH.
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.
IHS vs TBCH: side by side
| IHS (IHS Holding Limited) | TBCH (Turtle Beach Corporation) | |
|---|---|---|
| 1-year return | +15.2% | -16.6% |
| 5-year return | -51.0% | -55.7% |
| Volatility (ann.) | 55.6% | 57.8% |
| Beta vs S&P 500 | 0.88 | 2.21 |
| Max drawdown (3Y) | -68.7% | -51.8% |
| Market cap | $2.8B | $0.2B |
| P/E (trailing) | 5.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IHS | TBCH |
|---|---|---|
| 2022 | -56.4% | -67.8% |
| 2023 | -25.2% | +52.7% |
| 2024 | -36.5% | +58.1% |
| 2025 | +155.5% | -18.9% |
| 2026 | +11.7% | -7.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IHS and TBCH good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between IHS and TBCH?
Using weekly returns as of 2026-08-27: 0.39 over 3 years, with 0.13 over the last year and 0.39 over 5 years.
Is TBCH a good diversifier for IHS?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 mean?
On the −1 to +1 scale, 0.39 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/ihs-vs-tbch.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ihs-vs-tbch/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IHS correlations · TBCH correlations
