HTB vs INDO: Correlation
HomeTrust Bancshares, Inc. (HTB) and Indonesia Energy Corporation Limited (INDO) show a negative relationship: their 3-year correlation of weekly returns is -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HTB and INDO?
Over the past 3 years, HTB and INDO moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.24) sits close to the 3-year figure. Over 5 years the correlation is -0.11, and the annualized covariance of weekly returns is -777.6 %².
Among the 17 assets we track against HTB, INDO sits near the bottom by co-movement, at rank #15. The trailing year gives HTB the advantage: +13.4% versus -1.4%, a 14.8-point spread. One caveat on sizing: INDO is 4.0 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.
HTB vs INDO: side by side
| HTB (HomeTrust Bancshares, Inc.) | INDO (Indonesia Energy Corporation Limited) | |
|---|---|---|
| 1-year return | +13.4% | -1.4% |
| 5-year return | +81.4% | -43.5% |
| Volatility (ann.) | 27.3% | 108.1% |
| Beta vs S&P 500 | 0.86 | -0.65 |
| Max drawdown (3Y) | -17.7% | -65.1% |
| Market cap | $0.8B | – |
| P/E (trailing) | 12.3 | – |
| Dividend yield | 1.13% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HTB | INDO |
|---|---|---|
| 2022 | -20.9% | +66.4% |
| 2023 | +13.4% | -41.8% |
| 2024 | +27.0% | +2.6% |
| 2025 | +29.1% | +5.4% |
| 2026 | +9.3% | -3.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HTB and INDO good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between HTB and INDO?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.24 over the last year and -0.11 over 5 years.
Is INDO a good diversifier for HTB?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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/htb-vs-indo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/htb-vs-indo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HTB correlations · INDO correlations
