INDO vs PLBC: Correlation
How closely do Indonesia Energy Corporation Limited (INDO) and Plumas Bancorp (PLBC) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INDO and PLBC?
Over the past 3 years, INDO and PLBC moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.00 versus -0.24 over 3 years. Over 5 years the correlation is -0.10, and the annualized covariance of weekly returns is -788.2 %².
Among the 102 assets we track against INDO, PLBC ranks #83 by 3-year correlation. The last year tells two different stories: PLBC led by 46.7 percentage points, -1.4% for INDO against +45.3% for PLBC. One caveat on sizing: INDO is 3.5 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 PLBC: side by side
| INDO (Indonesia Energy Corporation Limited) | PLBC (Plumas Bancorp) | |
|---|---|---|
| 1-year return | -1.4% | +45.3% |
| 5-year return | -43.5% | +114.6% |
| Volatility (ann.) | 108.1% | 30.5% |
| Beta vs S&P 500 | -0.65 | 0.37 |
| Max drawdown (3Y) | -65.1% | -26.7% |
| Market cap | – | $0.4B |
| P/E (trailing) | – | 12.0 |
| Dividend yield | 0.00% | 2.06% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INDO | PLBC |
|---|---|---|
| 2022 | +66.4% | +11.7% |
| 2023 | -41.8% | +14.7% |
| 2024 | +2.6% | +17.5% |
| 2025 | +5.4% | -2.7% |
| 2026 | -3.8% | +39.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INDO and PLBC good diversifiers for each other?
Yes. With a correlation of -0.24, INDO and PLBC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between INDO and PLBC?
The INDO/PLBC correlation stands at -0.24 on a 3-year window (1 year: 0.00, 5 years: -0.10), computed from weekly returns as of 2026-08-27.
Is PLBC a good diversifier for INDO?
Yes. With a correlation of -0.24, INDO and PLBC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 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-plbc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/indo-vs-plbc/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: INDO correlations · PLBC correlations
