BSRR vs INDO: Correlation
Measured on weekly returns over the past three years, Sierra Bancorp (BSRR) and Indonesia Energy Corporation Limited (INDO) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BSRR and INDO?
Over the past 3 years, BSRR and INDO moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.09) runs above the 3-year figure (-0.21). Over 5 years the correlation is -0.10, and the annualized covariance of weekly returns is -703.3 %².
INDO is close to the least connected end of BSRR's tracked universe, ranking #12 of 14. The last year tells two different stories: BSRR led by 34.0 percentage points, +32.6% for BSRR against -1.4% for INDO. Note the risk asymmetry: INDO runs 3.4 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
BSRR vs INDO: side by side
| BSRR (Sierra Bancorp) | INDO (Indonesia Energy Corporation Limited) | |
|---|---|---|
| 1-year return | +32.6% | -1.4% |
| 5-year return | +91.2% | -43.5% |
| Volatility (ann.) | 31.7% | 108.1% |
| Beta vs S&P 500 | 0.83 | -0.65 |
| Max drawdown (3Y) | -29.1% | -65.1% |
| Market cap | $0.5B | – |
| P/E (trailing) | 11.7 | – |
| Dividend yield | 2.63% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BSRR | INDO |
|---|---|---|
| 2022 | -18.6% | +66.4% |
| 2023 | +11.5% | -41.8% |
| 2024 | +33.3% | +2.6% |
| 2025 | +17.0% | +5.4% |
| 2026 | +24.4% | -3.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BSRR and INDO good diversifiers for each other?
Yes. With a correlation of -0.21, BSRR and INDO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BSRR and INDO?
As of 2026-08-27, the correlation of weekly returns between BSRR and INDO is -0.21 over 3 years, -0.09 over 1 year and -0.10 over 5 years.
Is INDO a good diversifier for BSRR?
Yes. With a correlation of -0.21, BSRR and INDO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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/bsrr-vs-indo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bsrr-vs-indo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BSRR correlations · INDO correlations
