INDO vs WMK: Correlation
How closely do Indonesia Energy Corporation Limited (INDO) and Weis Markets, Inc. (WMK) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INDO and WMK?
Across a 3-year window, the weekly returns of INDO and WMK correlate at -0.22, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.28 over 1 year against -0.22 over 3. Stretching to 5 years gives 0.03, with an annualized covariance of -635.2 %².
Among the 102 assets we track against INDO, WMK ranks #73 by 3-year correlation. Neither side won the trailing year by much: -1.4% against -2.9%. Risk is not evenly split, since INDO carries 4.1 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 WMK: side by side
| INDO (Indonesia Energy Corporation Limited) | WMK (Weis Markets, Inc.) | |
|---|---|---|
| 1-year return | -1.4% | -2.9% |
| 5-year return | -43.5% | +36.2% |
| Volatility (ann.) | 108.1% | 26.2% |
| Beta vs S&P 500 | -0.65 | 0.07 |
| Max drawdown (3Y) | -65.1% | -29.4% |
| Market cap | – | – |
| P/E (trailing) | – | 17.6 |
| Dividend yield | 0.00% | 1.92% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INDO | WMK |
|---|---|---|
| 2022 | +66.4% | +27.1% |
| 2023 | -41.8% | -20.8% |
| 2024 | +2.6% | +8.0% |
| 2025 | +5.4% | -3.6% |
| 2026 | -3.8% | +11.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INDO and WMK good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between INDO and WMK?
The INDO/WMK correlation stands at -0.22 on a 3-year window (1 year: -0.28, 5 years: 0.03), computed from weekly returns as of 2026-08-27.
Is WMK a good diversifier for INDO?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/indo-vs-wmk.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/indo-vs-wmk/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: INDO correlations · WMK correlations
