INDO vs RBCAA: Correlation
Measured on weekly returns over the past three years, Indonesia Energy Corporation Limited (INDO) and Republic Bancorp, Inc. (RBCAA) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INDO and RBCAA?
Across a 3-year window, the weekly returns of INDO and RBCAA correlate at -0.22, 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. Stretching to 5 years gives -0.11, with an annualized covariance of -653.6 %².
Among the 102 assets we track against INDO, RBCAA ranks #70 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months RBCAA outperformed by 26.5 percentage points (-1.4% for INDO against +25.1% for RBCAA). Note the risk asymmetry: INDO runs 3.8 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 RBCAA: side by side
| INDO (Indonesia Energy Corporation Limited) | RBCAA (Republic Bancorp, Inc.) | |
|---|---|---|
| 1-year return | -1.4% | +25.1% |
| 5-year return | -43.5% | +117.3% |
| Volatility (ann.) | 108.1% | 28.1% |
| Beta vs S&P 500 | -0.65 | 0.68 |
| Max drawdown (3Y) | -65.1% | -21.6% |
| Market cap | – | $1.8B |
| P/E (trailing) | – | 14.4 |
| Dividend yield | 0.00% | 2.01% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INDO | RBCAA |
|---|---|---|
| 2022 | +66.4% | -16.9% |
| 2023 | -41.8% | +39.4% |
| 2024 | +2.6% | +30.3% |
| 2025 | +5.4% | +1.3% |
| 2026 | -3.8% | +38.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INDO and RBCAA good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between INDO and RBCAA?
As of 2026-08-27, the correlation of weekly returns between INDO and RBCAA is -0.22 over 3 years, -0.22 over 1 year and -0.11 over 5 years.
Is RBCAA a good diversifier for INDO?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 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-rbcaa.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/indo-vs-rbcaa/)
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Related comparisons
Hubs: INDO correlations · RBCAA correlations
