INDO vs OXM: Correlation
Measured on weekly returns over the past three years, Indonesia Energy Corporation Limited (INDO) and Oxford Industries, Inc. (OXM) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INDO and OXM?
Over the past 3 years, INDO and OXM moved with a correlation of -0.30, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.02) runs above the 3-year figure (-0.30). Over 5 years the correlation is -0.12, and the annualized covariance of weekly returns is -1522.0 %².
Among the 102 assets we track against INDO, OXM sits near the bottom by co-movement, at rank #99. The trailing year gives INDO the advantage: -1.4% versus -9.2%, a 7.8-point spread. 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.
INDO vs OXM: side by side
| INDO (Indonesia Energy Corporation Limited) | OXM (Oxford Industries, Inc.) | |
|---|---|---|
| 1-year return | -1.4% | -9.2% |
| 5-year return | -43.5% | -50.3% |
| Volatility (ann.) | 108.1% | 47.0% |
| Beta vs S&P 500 | -0.65 | 1.00 |
| Max drawdown (3Y) | -65.1% | -69.4% |
| Market cap | – | $0.6B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 7.14% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INDO | OXM |
|---|---|---|
| 2022 | +66.4% | -6.1% |
| 2023 | -41.8% | +10.0% |
| 2024 | +2.6% | -18.9% |
| 2025 | +5.4% | -54.0% |
| 2026 | -3.8% | +17.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INDO and OXM good diversifiers for each other?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between INDO and OXM?
The INDO/OXM correlation stands at -0.30 on a 3-year window (1 year: -0.02, 5 years: -0.12), computed from weekly returns as of 2026-08-27.
Is OXM a good diversifier for INDO?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.30 mean?
A reading of -0.30 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/indo-vs-oxm.json
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Related comparisons
Hubs: INDO correlations · OXM correlations
