INDO vs LOW: Correlation
Measured on weekly returns over the past three years, Indonesia Energy Corporation Limited (INDO) and Lowe's (LOW) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INDO and LOW?
Across a 3-year window, the weekly returns of INDO and LOW correlate at -0.19, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.02) than the 3-year average (-0.19). Stretching to 5 years gives -0.01, with an annualized covariance of -507.5 %².
By 3-year correlation, LOW places #34 of the 102 assets tracked against INDO. Correlation aside, the last 12 months split them widely, with INDO ahead by 17.0 points (-1.4% versus -18.4%). Note the risk asymmetry: INDO runs 4.4 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 LOW: side by side
| INDO (Indonesia Energy Corporation Limited) | LOW (Lowe's) | |
|---|---|---|
| 1-year return | -1.4% | -18.4% |
| 5-year return | -43.5% | +11.1% |
| Volatility (ann.) | 108.1% | 24.8% |
| Beta vs S&P 500 | -0.65 | 0.83 |
| Max drawdown (3Y) | -65.1% | -29.0% |
| Market cap | – | – |
| P/E (trailing) | – | 17.8 |
| Dividend yield | 0.00% | 2.31% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | INDO | LOW |
|---|---|---|
| 2022 | +66.4% | -21.5% |
| 2023 | -41.8% | +14.0% |
| 2024 | +2.6% | +13.0% |
| 2025 | +5.4% | -0.3% |
| 2026 | -3.8% | -12.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INDO and LOW good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between INDO and LOW?
The INDO/LOW correlation stands at -0.19 on a 3-year window (1 year: -0.02, 5 years: -0.01), computed from weekly returns as of 2026-08-27.
Is LOW a good diversifier for INDO?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 mean?
A reading of -0.19 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: INDO correlations · LOW correlations
