JOF vs TLK: Correlation
Measured on weekly returns over the past three years, Japan Smaller Capitalization Fund Inc (JOF) and PT Telekomunikasi Indonesia, Tbk (TLK) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are JOF and TLK?
Across a 3-year window, the weekly returns of JOF and TLK correlate at 0.45, moderate. The relationship has been stable: the 1-year correlation (0.44) sits close to the 3-year figure. Stretching to 5 years gives 0.30, with an annualized covariance of 235.3 %².
By 3-year correlation, TLK places #8 of the 15 assets tracked against JOF. The last year tells two different stories: JOF led by 52.3 percentage points, +33.0% for JOF against -19.3% for TLK.
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.
JOF vs TLK: side by side
| JOF (Japan Smaller Capitalization Fund Inc) | TLK (PT Telekomunikasi Indonesia, Tbk) | |
|---|---|---|
| 1-year return | +33.0% | -19.3% |
| 5-year return | +81.0% | -18.1% |
| Volatility (ann.) | 18.6% | 27.9% |
| Beta vs S&P 500 | 0.74 | 0.66 |
| Max drawdown (3Y) | -17.2% | -47.6% |
| Market cap | – | $14.3B |
| P/E (trailing) | 2.5 | 14.7 |
| Dividend yield | 5.67% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | JOF | TLK |
|---|---|---|
| 2022 | -17.1% | -14.6% |
| 2023 | +21.4% | +12.6% |
| 2024 | +5.3% | -32.3% |
| 2025 | +52.1% | +37.8% |
| 2026 | +20.9% | -25.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are JOF and TLK good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between JOF and TLK?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.44 over the last year and 0.30 over 5 years.
Is TLK a good diversifier for JOF?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 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/jof-vs-tlk.json
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Related comparisons
Hubs: JOF correlations · TLK correlations
