INDO vs RUSHB: Correlation
Indonesia Energy Corporation Limited (INDO) and Rush Enterprises, Inc. (RUSHB) show a negative relationship: their 3-year correlation of weekly returns is -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INDO and RUSHB?
Across a 3-year window, the weekly returns of INDO and RUSHB correlate at -0.24, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.17) sits close to the 3-year figure. Stretching to 5 years gives -0.09, with an annualized covariance of -798.7 %².
By 3-year correlation, RUSHB places #84 of the 102 assets tracked against INDO. The last year tells two different stories: RUSHB led by 33.0 percentage points, -1.4% for INDO against +31.6% for RUSHB. 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 RUSHB: side by side
| INDO (Indonesia Energy Corporation Limited) | RUSHB (Rush Enterprises, Inc.) | |
|---|---|---|
| 1-year return | -1.4% | +31.6% |
| 5-year return | -43.5% | +185.6% |
| Volatility (ann.) | 108.1% | 30.8% |
| Beta vs S&P 500 | -0.65 | 0.88 |
| Max drawdown (3Y) | -65.1% | -28.5% |
| Market cap | – | $9.0B |
| P/E (trailing) | – | 23.1 |
| Dividend yield | 0.00% | 0.99% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INDO | RUSHB |
|---|---|---|
| 2022 | +66.4% | +5.9% |
| 2023 | -41.8% | +43.4% |
| 2024 | +2.6% | +4.3% |
| 2025 | +5.4% | +4.8% |
| 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 RUSHB good diversifiers for each other?
Yes. With a correlation of -0.24, INDO and RUSHB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between INDO and RUSHB?
The INDO/RUSHB correlation stands at -0.24 on a 3-year window (1 year: -0.17, 5 years: -0.09), computed from weekly returns as of 2026-08-27.
Is RUSHB a good diversifier for INDO?
Yes. With a correlation of -0.24, INDO and RUSHB have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
A reading of -0.24 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-rushb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/indo-vs-rushb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: INDO correlations · RUSHB correlations
