HLT vs INDO: Correlation
Measured on weekly returns over the past three years, Hilton Worldwide (HLT) 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 HLT and INDO?
On 3 years of weekly data the HLT/INDO correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.27 over 1 year against -0.23 over 3. The 5-year figure is -0.11, and annualized covariance runs at -513.3 %².
INDO is close to the least connected end of HLT's tracked universe, ranking #36 of 40. The last year tells two different stories: HLT led by 19.5 percentage points, +18.1% for HLT against -1.4% for INDO. One caveat on sizing: INDO is 5.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
HLT vs INDO: side by side
| HLT (Hilton Worldwide) | INDO (Indonesia Energy Corporation Limited) | |
|---|---|---|
| 1-year return | +18.1% | -1.4% |
| 5-year return | +162.7% | -43.5% |
| Volatility (ann.) | 20.7% | 108.1% |
| Beta vs S&P 500 | 0.85 | -0.65 |
| Max drawdown (3Y) | -26.4% | -65.1% |
| Market cap | $73.3B | – |
| P/E (trailing) | 47.8 | – |
| Dividend yield | 0.18% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | HLT | INDO |
|---|---|---|
| 2022 | -18.7% | +66.4% |
| 2023 | +44.7% | -41.8% |
| 2024 | +36.1% | +2.6% |
| 2025 | +16.5% | +5.4% |
| 2026 | +13.5% | -3.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HLT 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 HLT and INDO?
As of 2026-08-27, the correlation of weekly returns between HLT and INDO is -0.23 over 3 years, -0.27 over 1 year and -0.11 over 5 years.
Is INDO a good diversifier for HLT?
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?
A reading of -0.23 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hlt-vs-indo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hlt-vs-indo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HLT correlations · INDO correlations
