INDO vs SGC: Correlation
How closely do Indonesia Energy Corporation Limited (INDO) and Superior Group of Companies, Inc. (SGC) trade together? Their weekly returns over three years give a correlation of -0.27, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INDO and SGC?
On 3 years of weekly data the INDO/SGC correlation comes out at -0.27, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.16) than the 3-year average (-0.27). The 5-year figure is -0.13, and annualized covariance runs at -1281.8 %².
Among the 102 assets we track against INDO, SGC ranks #96 by 3-year correlation. Their 12-month results are close: -1.4% for INDO against -5.2% for SGC. One caveat on sizing: INDO is 2.4 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 SGC: side by side
| INDO (Indonesia Energy Corporation Limited) | SGC (Superior Group of Companies, Inc.) | |
|---|---|---|
| 1-year return | -1.4% | -5.2% |
| 5-year return | -43.5% | -35.8% |
| Volatility (ann.) | 108.1% | 44.5% |
| Beta vs S&P 500 | -0.65 | 1.20 |
| Max drawdown (3Y) | -65.1% | -58.1% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | 22.5 |
| Dividend yield | 0.00% | 4.52% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INDO | SGC |
|---|---|---|
| 2022 | +66.4% | -52.4% |
| 2023 | -41.8% | +42.3% |
| 2024 | +2.6% | +26.9% |
| 2025 | +5.4% | -38.4% |
| 2026 | -3.8% | +30.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INDO and SGC good diversifiers for each other?
Yes. With a correlation of -0.27, INDO and SGC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between INDO and SGC?
The INDO/SGC correlation stands at -0.27 on a 3-year window (1 year: -0.16, 5 years: -0.13), computed from weekly returns as of 2026-08-27.
Is SGC a good diversifier for INDO?
Yes. With a correlation of -0.27, INDO and SGC 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-sgc.json
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[](https://www.pairbook.io/pair/indo-vs-sgc/)
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Related comparisons
Hubs: INDO correlations · SGC correlations
