INDO vs NRIM: Correlation
How closely do Indonesia Energy Corporation Limited (INDO) and Northrim BanCorp Inc (NRIM) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INDO and NRIM?
Over the past 3 years, INDO and NRIM moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.23 lands near the 3-year figure. Over 5 years the correlation is -0.07, and the annualized covariance of weekly returns is -904.0 %².
By 3-year correlation, NRIM places #78 of the 102 assets tracked against INDO. The trailing year gives NRIM the advantage: -1.4% versus +11.5%, a 12.9-point spread. Note the risk asymmetry: INDO runs 2.9 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 NRIM: side by side
| INDO (Indonesia Energy Corporation Limited) | NRIM (Northrim BanCorp Inc) | |
|---|---|---|
| 1-year return | -1.4% | +11.5% |
| 5-year return | -43.5% | +203.9% |
| Volatility (ann.) | 108.1% | 36.9% |
| Beta vs S&P 500 | -0.65 | 0.89 |
| Max drawdown (3Y) | -65.1% | -24.9% |
| Market cap | – | $0.6B |
| P/E (trailing) | – | 8.4 |
| Dividend yield | 0.00% | 1.25% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INDO | NRIM |
|---|---|---|
| 2022 | +66.4% | +30.7% |
| 2023 | -41.8% | +10.4% |
| 2024 | +2.6% | +41.9% |
| 2025 | +5.4% | +40.5% |
| 2026 | -3.8% | -1.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INDO and NRIM good diversifiers for each other?
Yes. With a correlation of -0.23, INDO and NRIM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between INDO and NRIM?
As of 2026-08-27, the correlation of weekly returns between INDO and NRIM is -0.23 over 3 years, -0.23 over 1 year and -0.07 over 5 years.
Is NRIM a good diversifier for INDO?
Yes. With a correlation of -0.23, INDO and NRIM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/indo-vs-nrim.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/indo-vs-nrim/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: INDO correlations · NRIM correlations
