HOFT vs INDO: Correlation
Hooker Furnishings Corporation (HOFT) and Indonesia Energy Corporation Limited (INDO) show a negative relationship: their 3-year correlation of weekly returns is -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HOFT and INDO?
Over the past 3 years, HOFT and INDO moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.17 over 1 year against -0.24 over 3. Over 5 years the correlation is -0.12, and the annualized covariance of weekly returns is -1391.3 %².
Among the 12 assets we track against HOFT, INDO sits near the bottom by co-movement, at rank #10. Correlation aside, the last 12 months split them widely, with HOFT ahead by 40.3 points (+38.9% versus -1.4%). One caveat on sizing: INDO is 2.0 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.
HOFT vs INDO: side by side
| HOFT (Hooker Furnishings Corporation) | INDO (Indonesia Energy Corporation Limited) | |
|---|---|---|
| 1-year return | +38.9% | -1.4% |
| 5-year return | -46.3% | -43.5% |
| Volatility (ann.) | 53.9% | 108.1% |
| Beta vs S&P 500 | 1.11 | -0.65 |
| Max drawdown (3Y) | -69.9% | -65.1% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 5.02% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HOFT | INDO |
|---|---|---|
| 2022 | -15.7% | +66.4% |
| 2023 | +45.7% | -41.8% |
| 2024 | -43.3% | +2.6% |
| 2025 | -13.3% | +5.4% |
| 2026 | +21.2% | -3.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HOFT and INDO good diversifiers for each other?
Yes. With a correlation of -0.24, HOFT and INDO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HOFT and INDO?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.17 over the last year and -0.12 over 5 years.
Is INDO a good diversifier for HOFT?
Yes. With a correlation of -0.24, HOFT and INDO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 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/hoft-vs-indo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hoft-vs-indo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HOFT correlations · INDO correlations
