BRN vs INDO: Correlation
Measured on weekly returns over the past three years, Barnwell Industries, Inc. (BRN) and Indonesia Energy Corporation Limited (INDO) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BRN and INDO?
On 3 years of weekly data the BRN/INDO correlation comes out at 0.45, moderate. Recent behaviour matches the longer record: 0.38 over 1 year against 0.45 over 3. The 5-year figure is 0.36, and annualized covariance runs at 2605.5 %².
Among the 35 assets we track against BRN, INDO ranks #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with INDO ahead by 17.7 points (-19.1% versus -1.4%). Risk is not evenly split, since INDO carries 2.0 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.
BRN vs INDO: side by side
| BRN (Barnwell Industries, Inc.) | INDO (Indonesia Energy Corporation Limited) | |
|---|---|---|
| 1-year return | -19.1% | -1.4% |
| 5-year return | -58.9% | -43.5% |
| Volatility (ann.) | 53.1% | 108.1% |
| Beta vs S&P 500 | -0.22 | -0.65 |
| Max drawdown (3Y) | -68.5% | -65.1% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BRN | INDO |
|---|---|---|
| 2022 | +2.8% | +66.4% |
| 2023 | -16.5% | -41.8% |
| 2024 | -37.9% | +2.6% |
| 2025 | -26.5% | +5.4% |
| 2026 | -14.0% | -3.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BRN and INDO good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BRN and INDO?
As of 2026-08-27, the correlation of weekly returns between BRN and INDO is 0.45 over 3 years, 0.38 over 1 year and 0.36 over 5 years.
Is INDO a good diversifier for BRN?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 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/brn-vs-indo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/brn-vs-indo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BRN correlations · INDO correlations
