INDO vs PFIS: Correlation
Indonesia Energy Corporation Limited (INDO) and Peoples Financial Services Corp. (PFIS) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INDO and PFIS?
Over the past 3 years, INDO and PFIS moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.19 over 1 year against -0.22 over 3. Over 5 years the correlation is -0.13, and the annualized covariance of weekly returns is -724.2 %².
Within INDO's tracked universe of 102 assets, PFIS comes in at #68 by 3-year correlation. The last year tells two different stories: PFIS led by 36.9 percentage points, -1.4% for INDO against +35.5% for PFIS. Risk is not evenly split, since INDO carries 3.5 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 PFIS: side by side
| INDO (Indonesia Energy Corporation Limited) | PFIS (Peoples Financial Services Corp.) | |
|---|---|---|
| 1-year return | -1.4% | +35.5% |
| 5-year return | -43.5% | +82.0% |
| Volatility (ann.) | 108.1% | 30.5% |
| Beta vs S&P 500 | -0.65 | 0.66 |
| Max drawdown (3Y) | -65.1% | -29.1% |
| Market cap | – | $0.7B |
| P/E (trailing) | – | 12.3 |
| Dividend yield | 0.00% | 3.56% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INDO | PFIS |
|---|---|---|
| 2022 | +66.4% | +1.5% |
| 2023 | -41.8% | -2.5% |
| 2024 | +2.6% | +9.9% |
| 2025 | +5.4% | +0.0% |
| 2026 | -3.8% | +45.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INDO and PFIS good diversifiers for each other?
Yes. With a correlation of -0.22, INDO and PFIS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between INDO and PFIS?
The INDO/PFIS correlation stands at -0.22 on a 3-year window (1 year: -0.19, 5 years: -0.13), computed from weekly returns as of 2026-08-27.
Is PFIS a good diversifier for INDO?
Yes. With a correlation of -0.22, INDO and PFIS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
A reading of -0.22 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-pfis.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/indo-vs-pfis/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: INDO correlations · PFIS correlations
