INDO vs KRT: Correlation
Indonesia Energy Corporation Limited (INDO) and Karat Packaging Inc. (KRT) 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 INDO and KRT?
On 3 years of weekly data the INDO/KRT correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.22) sits close to the 3-year figure. The 5-year figure is -0.14, and annualized covariance runs at -1131.1 %².
Within INDO's tracked universe of 102 assets, KRT comes in at #90 by 3-year correlation. The last year tells two different stories: KRT led by 111.3 percentage points, -1.4% for INDO against +109.9% for KRT. Risk is not evenly split, since INDO carries 2.7 times the volatility of the other side.
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.
INDO vs KRT: side by side
| INDO (Indonesia Energy Corporation Limited) | KRT (Karat Packaging Inc.) | |
|---|---|---|
| 1-year return | -1.4% | +109.9% |
| 5-year return | -43.5% | +172.9% |
| Volatility (ann.) | 108.1% | 40.5% |
| Beta vs S&P 500 | -0.65 | 1.09 |
| Max drawdown (3Y) | -65.1% | -34.0% |
| Market cap | – | $1.0B |
| P/E (trailing) | – | 19.7 |
| Dividend yield | 0.00% | 3.65% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INDO | KRT |
|---|---|---|
| 2022 | +66.4% | -27.1% |
| 2023 | -41.8% | +82.2% |
| 2024 | +2.6% | +28.8% |
| 2025 | +5.4% | -20.1% |
| 2026 | -3.8% | +130.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INDO and KRT 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 INDO and KRT?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.22 over the last year and -0.14 over 5 years.
Is KRT a good diversifier for INDO?
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/indo-vs-krt.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/indo-vs-krt/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: INDO correlations · KRT correlations
