INDO vs PFS: Correlation
Indonesia Energy Corporation Limited (INDO) and Provident Financial Services, Inc (PFS) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INDO and PFS?
Over the past 3 years, INDO and PFS moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.22 lands near the 3-year figure. Over 5 years the correlation is -0.08, and the annualized covariance of weekly returns is -627.2 %².
Among the 102 assets we track against INDO, PFS ranks #35 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PFS ahead by 25.3 points (-1.4% versus +23.9%). Risk is not evenly split, since INDO carries 3.6 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 PFS: side by side
| INDO (Indonesia Energy Corporation Limited) | PFS (Provident Financial Services, Inc) | |
|---|---|---|
| 1-year return | -1.4% | +23.9% |
| 5-year return | -43.5% | +37.5% |
| Volatility (ann.) | 108.1% | 30.4% |
| Beta vs S&P 500 | -0.65 | 0.87 |
| Max drawdown (3Y) | -65.1% | -31.3% |
| Market cap | – | $3.1B |
| P/E (trailing) | – | 9.8 |
| Dividend yield | 0.00% | 2.04% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INDO | PFS |
|---|---|---|
| 2022 | +66.4% | -8.0% |
| 2023 | -41.8% | -10.8% |
| 2024 | +2.6% | +10.7% |
| 2025 | +5.4% | +10.2% |
| 2026 | -3.8% | +23.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INDO and PFS good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between INDO and PFS?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.22 over the last year and -0.08 over 5 years.
Is PFS a good diversifier for INDO?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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-pfs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/indo-vs-pfs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: INDO correlations · PFS correlations
