If's it's an RF signal, then no.
Even if it's an RF signal you will likely see a weaker connection.
It may or may not be enough to cause the gamepad to malfunction at a given distance/direction/orientation however.
I had to move my wireless mouse receiver around a few times in my cab before I could get a decent signal to it from less than 2 ft. away.
I think the monitor was interfering with the signal, as nearly as I can tell.
I actually had to move it so that the monitor was in between the mouse and receiver to get a signal with it.
When they were both on the same side of the monitor, and just over a foot apart, I wasn't getting connection.
At work, I had to put my boss' wireless receiver up on his desk near the monitor because I couldn't get a signal to it when it was sitting on top of the computer (which is on the floor next to his desk, and only about 3 feet from where the mouse was being used on the desk).