CENT vs INDO: Correlation
Measured on weekly returns over the past three years, Central Garden & Pet Company (CENT) and Indonesia Energy Corporation Limited (INDO) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CENT and INDO?
Over the past 3 years, CENT and INDO moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.12 over 1 year against -0.22 over 3. Over 5 years the correlation is -0.05, and the annualized covariance of weekly returns is -699.0 %².
Among the 12 assets we track against CENT, INDO sits near the bottom by co-movement, at rank #10. Correlation aside, the last 12 months split them widely, with CENT ahead by 22.2 points (+20.8% versus -1.4%). Note the risk asymmetry: INDO runs 3.6 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.
CENT vs INDO: side by side
| CENT (Central Garden & Pet Company) | INDO (Indonesia Energy Corporation Limited) | |
|---|---|---|
| 1-year return | +20.8% | -1.4% |
| 5-year return | +19.0% | -43.5% |
| Volatility (ann.) | 29.9% | 108.1% |
| Beta vs S&P 500 | 0.42 | -0.65 |
| Max drawdown (3Y) | -38.8% | -65.1% |
| Market cap | $2.7B | – |
| P/E (trailing) | 16.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CENT | INDO |
|---|---|---|
| 2022 | -28.8% | +66.4% |
| 2023 | +33.8% | -41.8% |
| 2024 | -1.1% | +2.6% |
| 2025 | -17.1% | +5.4% |
| 2026 | +35.9% | -3.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CENT and INDO good diversifiers for each other?
Yes. With a correlation of -0.22, CENT and INDO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CENT and INDO?
The CENT/INDO correlation stands at -0.22 on a 3-year window (1 year: -0.12, 5 years: -0.05), computed from weekly returns as of 2026-08-27.
Is INDO a good diversifier for CENT?
Yes. With a correlation of -0.22, CENT and INDO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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/cent-vs-indo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cent-vs-indo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CENT correlations · INDO correlations
