GSBC vs INDO: Correlation
Great Southern Bancorp, Inc. (GSBC) and Indonesia Energy Corporation Limited (INDO) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GSBC and INDO?
Across a 3-year window, the weekly returns of GSBC and INDO correlate at -0.21, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.21) sits close to the 3-year figure. Stretching to 5 years gives -0.08, with an annualized covariance of -554.5 %².
INDO is close to the least connected end of GSBC's tracked universe, ranking #24 of 26. Their recent paths diverged sharply: over the last 12 months GSBC outperformed by 28.1 percentage points (+26.7% for GSBC against -1.4% for INDO). Risk is not evenly split, since INDO carries 4.4 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.
GSBC vs INDO: side by side
| GSBC (Great Southern Bancorp, Inc.) | INDO (Indonesia Energy Corporation Limited) | |
|---|---|---|
| 1-year return | +26.7% | -1.4% |
| 5-year return | +68.1% | -43.5% |
| Volatility (ann.) | 24.8% | 108.1% |
| Beta vs S&P 500 | 0.62 | -0.65 |
| Max drawdown (3Y) | -23.4% | -65.1% |
| Market cap | $0.9B | – |
| P/E (trailing) | 13.1 | – |
| Dividend yield | 2.19% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GSBC | INDO |
|---|---|---|
| 2022 | +3.1% | +66.4% |
| 2023 | +2.8% | -41.8% |
| 2024 | +3.5% | +2.6% |
| 2025 | +6.0% | +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 GSBC and INDO good diversifiers for each other?
Yes. With a correlation of -0.21, GSBC and INDO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GSBC and INDO?
The GSBC/INDO correlation stands at -0.21 on a 3-year window (1 year: -0.21, 5 years: -0.08), computed from weekly returns as of 2026-08-27.
Is INDO a good diversifier for GSBC?
Yes. With a correlation of -0.21, GSBC 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/gsbc-vs-indo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/gsbc-vs-indo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GSBC correlations · INDO correlations
