HBCP vs INDO: Correlation
Measured on weekly returns over the past three years, Home Bancorp, Inc. (HBCP) and Indonesia Energy Corporation Limited (INDO) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HBCP and INDO?
On 3 years of weekly data the HBCP/INDO correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.14) sits close to the 3-year figure. The 5-year figure is -0.12, and annualized covariance runs at -633.3 %².
Among the 16 assets we track against HBCP, INDO sits near the bottom by co-movement, at rank #14. Their recent paths diverged sharply: over the last 12 months HBCP outperformed by 26.3 percentage points (+24.9% for HBCP against -1.4% for INDO). Note the risk asymmetry: INDO runs 3.8 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.
HBCP vs INDO: side by side
| HBCP (Home Bancorp, Inc.) | INDO (Indonesia Energy Corporation Limited) | |
|---|---|---|
| 1-year return | +24.9% | -1.4% |
| 5-year return | +110.9% | -43.5% |
| Volatility (ann.) | 28.6% | 108.1% |
| Beta vs S&P 500 | 0.82 | -0.65 |
| Max drawdown (3Y) | -21.7% | -65.1% |
| Market cap | $0.5B | – |
| P/E (trailing) | 11.6 | – |
| Dividend yield | 1.76% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HBCP | INDO |
|---|---|---|
| 2022 | -1.2% | +66.4% |
| 2023 | +8.0% | -41.8% |
| 2024 | +12.7% | +2.6% |
| 2025 | +27.9% | +5.4% |
| 2026 | +21.9% | -3.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HBCP and INDO good diversifiers for each other?
Yes. With a correlation of -0.20, HBCP and INDO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HBCP and INDO?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.14 over the last year and -0.12 over 5 years.
Is INDO a good diversifier for HBCP?
Yes. With a correlation of -0.20, HBCP and INDO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 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/hbcp-vs-indo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hbcp-vs-indo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HBCP correlations · INDO correlations
