INDO vs XTIA: Correlation
Measured on weekly returns over the past three years, Indonesia Energy Corporation Limited (INDO) and XTI Aerospace, Inc. (XTIA) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INDO and XTIA?
On 3 years of weekly data the INDO/XTIA correlation comes out at 0.49, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.18 versus 0.49 over 3 years. The 5-year figure is 0.14, and annualized covariance runs at 6727.4 %².
Within INDO's tracked universe of 102 assets, XTIA comes in at #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with INDO ahead by 23.6 points (-1.4% versus -25.0%).
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 XTIA: side by side
| INDO (Indonesia Energy Corporation Limited) | XTIA (XTI Aerospace, Inc.) | |
|---|---|---|
| 1-year return | -1.4% | -25.0% |
| 5-year return | -43.5% | -100.0% |
| Volatility (ann.) | 108.1% | 127.5% |
| Beta vs S&P 500 | -0.65 | 0.29 |
| Max drawdown (3Y) | -65.1% | -100.0% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INDO | XTIA |
|---|---|---|
| 2022 | +66.4% | -96.2% |
| 2023 | -41.8% | -96.7% |
| 2024 | +2.6% | -99.2% |
| 2025 | +5.4% | -88.5% |
| 2026 | -3.8% | +11.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INDO and XTIA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between INDO and XTIA?
The INDO/XTIA correlation stands at 0.49 on a 3-year window (1 year: 0.18, 5 years: 0.14), computed from weekly returns as of 2026-08-27.
Is XTIA a good diversifier for INDO?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.49 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-xtia.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/indo-vs-xtia/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: INDO correlations · XTIA correlations
