BBT vs INDO: Correlation
How closely do Beacon Financial Corporation (BBT) and Indonesia Energy Corporation Limited (INDO) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BBT and INDO?
On 3 years of weekly data the BBT/INDO correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.21 lands near the 3-year figure. The 5-year figure is -0.09, and annualized covariance runs at -631.5 %².
Among the 14 assets we track against BBT, INDO sits near the bottom by co-movement, at rank #12. Their recent paths diverged sharply: over the last 12 months BBT outperformed by 25.8 percentage points (+24.4% for BBT against -1.4% for INDO). One caveat on sizing: INDO is 3.7 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.
BBT vs INDO: side by side
| BBT (Beacon Financial Corporation) | INDO (Indonesia Energy Corporation Limited) | |
|---|---|---|
| 1-year return | +24.4% | -1.4% |
| 5-year return | +46.9% | -43.5% |
| Volatility (ann.) | 29.2% | 108.1% |
| Beta vs S&P 500 | 0.73 | -0.65 |
| Max drawdown (3Y) | -26.4% | -65.1% |
| Market cap | $2.6B | – |
| P/E (trailing) | 10.3 | – |
| Dividend yield | 4.07% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BBT | INDO |
|---|---|---|
| 2022 | +7.2% | +66.4% |
| 2023 | -14.3% | -41.8% |
| 2024 | +17.9% | +2.6% |
| 2025 | -4.2% | +5.4% |
| 2026 | +23.5% | -3.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BBT and INDO good diversifiers for each other?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BBT and INDO?
As of 2026-08-27, the correlation of weekly returns between BBT and INDO is -0.20 over 3 years, -0.21 over 1 year and -0.09 over 5 years.
Is INDO a good diversifier for BBT?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.20 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bbt-vs-indo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bbt-vs-indo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BBT correlations · INDO correlations
