INDO vs ROST: Correlation
Indonesia Energy Corporation Limited (INDO) and Ross Stores (ROST) show a negative relationship: their 3-year correlation of weekly returns is -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INDO and ROST?
Across a 3-year window, the weekly returns of INDO and ROST correlate at -0.27, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.05) runs above the 3-year figure (-0.27). Stretching to 5 years gives -0.10, with an annualized covariance of -711.0 %².
By 3-year correlation, ROST places #95 of the 102 assets tracked against INDO. Their recent paths diverged sharply: over the last 12 months ROST outperformed by 55.7 percentage points (-1.4% for INDO against +54.3% for ROST). One caveat on sizing: INDO is 4.5 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 ROST: side by side
| INDO (Indonesia Energy Corporation Limited) | ROST (Ross Stores) | |
|---|---|---|
| 1-year return | -1.4% | +54.3% |
| 5-year return | -43.5% | +105.0% |
| Volatility (ann.) | 108.1% | 24.0% |
| Beta vs S&P 500 | -0.65 | 0.66 |
| Max drawdown (3Y) | -65.1% | -21.1% |
| Market cap | – | $73.7B |
| P/E (trailing) | – | 27.8 |
| Dividend yield | 0.00% | 0.72% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | INDO | ROST |
|---|---|---|
| 2022 | +66.4% | +2.9% |
| 2023 | -41.8% | +20.6% |
| 2024 | +2.6% | +10.4% |
| 2025 | +5.4% | +20.4% |
| 2026 | -3.8% | +28.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INDO and ROST good diversifiers for each other?
Yes. With a correlation of -0.27, INDO and ROST have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between INDO and ROST?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with 0.05 over the last year and -0.10 over 5 years.
Is ROST a good diversifier for INDO?
Yes. With a correlation of -0.27, INDO and ROST have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 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-rost.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/indo-vs-rost/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: INDO correlations · ROST correlations
