INDO vs TROW: Correlation
How closely do Indonesia Energy Corporation Limited (INDO) and T. Rowe Price (TROW) trade together? Their weekly returns over three years give a correlation of -0.13, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INDO and TROW?
On 3 years of weekly data the INDO/TROW correlation comes out at -0.13, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.17) than the 3-year average (-0.13). The 5-year figure is -0.05, and annualized covariance runs at -328.8 %².
Within INDO's tracked universe of 102 assets, TROW comes in at #12 by 3-year correlation. Over the last 12 months TROW came out ahead by 9.5 percentage points (-1.4% against +8.1%). One caveat on sizing: INDO is 4.6 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 TROW: side by side
| INDO (Indonesia Energy Corporation Limited) | TROW (T. Rowe Price) | |
|---|---|---|
| 1-year return | -1.4% | +8.1% |
| 5-year return | -43.5% | -37.0% |
| Volatility (ann.) | 108.1% | 23.5% |
| Beta vs S&P 500 | -0.65 | 1.10 |
| Max drawdown (3Y) | -65.1% | -34.0% |
| Market cap | – | $24.0B |
| P/E (trailing) | – | 11.3 |
| Dividend yield | 0.00% | 4.57% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | INDO | TROW |
|---|---|---|
| 2022 | +66.4% | -42.2% |
| 2023 | -41.8% | +3.4% |
| 2024 | +2.6% | +9.7% |
| 2025 | +5.4% | -4.7% |
| 2026 | -3.8% | +12.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INDO and TROW good diversifiers for each other?
By historical standards, yes. A correlation of -0.13 means the two rarely move for the same reasons.
FAQ
What is the correlation between INDO and TROW?
Using weekly returns as of 2026-08-27: -0.13 over 3 years, with 0.17 over the last year and -0.05 over 5 years.
Is TROW a good diversifier for INDO?
By historical standards, yes. A correlation of -0.13 means the two rarely move for the same reasons.
What does a correlation of -0.13 mean?
A reading of -0.13 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-trow.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/indo-vs-trow/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: INDO correlations · TROW correlations
