INDO vs SBCF: Correlation
How closely do Indonesia Energy Corporation Limited (INDO) and Seacoast Banking Corporation of Florida (SBCF) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INDO and SBCF?
Across a 3-year window, the weekly returns of INDO and SBCF correlate at -0.20, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.12 lands near the 3-year figure. Stretching to 5 years gives -0.16, with an annualized covariance of -680.2 %².
Among the 102 assets we track against INDO, SBCF ranks #46 by 3-year correlation. The trailing year gives SBCF the advantage: -1.4% versus +12.7%, a 14.1-point spread. Risk is not evenly split, since INDO carries 3.5 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 SBCF: side by side
| INDO (Indonesia Energy Corporation Limited) | SBCF (Seacoast Banking Corporation of Florida) | |
|---|---|---|
| 1-year return | -1.4% | +12.7% |
| 5-year return | -43.5% | +23.0% |
| Volatility (ann.) | 108.1% | 30.8% |
| Beta vs S&P 500 | -0.65 | 0.96 |
| Max drawdown (3Y) | -65.1% | -27.8% |
| Market cap | – | $3.3B |
| P/E (trailing) | – | 22.3 |
| Dividend yield | 0.00% | 2.18% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INDO | SBCF |
|---|---|---|
| 2022 | +66.4% | -10.1% |
| 2023 | -41.8% | -6.0% |
| 2024 | +2.6% | -0.5% |
| 2025 | +5.4% | +17.1% |
| 2026 | -3.8% | +10.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INDO and SBCF good diversifiers for each other?
Yes. With a correlation of -0.20, INDO and SBCF have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between INDO and SBCF?
As of 2026-08-27, the correlation of weekly returns between INDO and SBCF is -0.20 over 3 years, -0.12 over 1 year and -0.16 over 5 years.
Is SBCF a good diversifier for INDO?
Yes. With a correlation of -0.20, INDO and SBCF have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 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-sbcf.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/indo-vs-sbcf/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: INDO correlations · SBCF correlations
