IMXI vs INDO: Correlation
How closely do International Money Express, Inc. (IMXI) and Indonesia Energy Corporation Limited (INDO) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IMXI and INDO?
Across a 3-year window, the weekly returns of IMXI and INDO correlate at -0.24, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.06) than the 3-year average (-0.24). Stretching to 5 years gives -0.10, with an annualized covariance of -1260.7 %².
Among the 16 assets we track against IMXI, INDO sits near the bottom by co-movement, at rank #14. Twelve-month performance is nearly a tie, at +0.5% for IMXI and -1.4% for INDO. One caveat on sizing: INDO is 2.3 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.
IMXI vs INDO: side by side
| IMXI (International Money Express, Inc.) | INDO (Indonesia Energy Corporation Limited) | |
|---|---|---|
| 1-year return | +0.5% | -1.4% |
| 5-year return | -19.7% | -43.5% |
| Volatility (ann.) | 47.9% | 108.1% |
| Beta vs S&P 500 | 0.78 | -0.65 |
| Max drawdown (3Y) | -61.8% | -65.1% |
| Market cap | $0.4B | – |
| P/E (trailing) | 23.8 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IMXI | INDO |
|---|---|---|
| 2022 | +52.7% | +66.4% |
| 2023 | -9.4% | -41.8% |
| 2024 | -5.7% | +2.6% |
| 2025 | -26.3% | +5.4% |
| 2026 | -5.7% | -3.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IMXI and INDO good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between IMXI and INDO?
The IMXI/INDO correlation stands at -0.24 on a 3-year window (1 year: 0.06, 5 years: -0.10), computed from weekly returns as of 2026-08-27.
Is INDO a good diversifier for IMXI?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 mean?
A reading of -0.24 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/imxi-vs-indo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/imxi-vs-indo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IMXI correlations · INDO correlations
