CENTA vs INDO: Correlation
Measured on weekly returns over the past three years, Central Garden & Pet Company (CENTA) and Indonesia Energy Corporation Limited (INDO) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CENTA and INDO?
Across a 3-year window, the weekly returns of CENTA and INDO correlate at -0.23, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.11) than the 3-year average (-0.23). Stretching to 5 years gives -0.06, with an annualized covariance of -706.8 %².
INDO is close to the least connected end of CENTA's tracked universe, ranking #11 of 13. Their recent paths diverged sharply: over the last 12 months CENTA outperformed by 16.9 percentage points (+15.5% for CENTA against -1.4% for INDO). Risk is not evenly split, since INDO carries 3.8 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.
CENTA vs INDO: side by side
| CENTA (Central Garden & Pet Company) | INDO (Indonesia Energy Corporation Limited) | |
|---|---|---|
| 1-year return | +15.5% | -1.4% |
| 5-year return | +10.9% | -43.5% |
| Volatility (ann.) | 28.2% | 108.1% |
| Beta vs S&P 500 | 0.42 | -0.65 |
| Max drawdown (3Y) | -35.7% | -65.1% |
| Market cap | $2.4B | – |
| P/E (trailing) | 14.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CENTA | INDO |
|---|---|---|
| 2022 | -25.2% | +66.4% |
| 2023 | +23.0% | -41.8% |
| 2024 | -6.2% | +2.6% |
| 2025 | -11.7% | +5.4% |
| 2026 | +29.2% | -3.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CENTA and INDO good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CENTA and INDO?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.11 over the last year and -0.06 over 5 years.
Is INDO a good diversifier for CENTA?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 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/centa-vs-indo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/centa-vs-indo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CENTA correlations · INDO correlations
