Indonesia Energy Corporation Limited (INDO) — Stock Correlations & Overview
Over the past year, INDO has moved most closely with USCI, UCO, USL. Explore the stocks most correlated and inversely correlated with INDO below, along with its price, financials, and company profile.
Stocks correlated with INDO
Correlation of daily returns. Higher positive values move with INDO; negative values move opposite it. Informational only, not investment advice.
Most correlated with INDO
| Symbol | Company | Correlation |
|---|---|---|
| USCI | US Commodity IndexCOMMODITY CONTRACTS BROKERS & DEALERS | 0.54 |
| UCO | ProShares Ultra Bloomberg Crude OilCOMMODITY CONTRACTS BROKERS & DEALERS | 0.54 |
| USL | United States 12 Month Oil Fund, LPCOMMODITY CONTRACTS BROKERS & DEALERS | 0.54 |
| OILK | ProShares K-1 Free Crude Oil ETF | 0.53 |
| DCMT | DoubleLine Commodity Strategy ETF | 0.53 |
Most inversely correlated with INDO
| Symbol | Company | Correlation |
|---|---|---|
| SCO | ProShares UltraShort Bloomberg Crude OilCOMMODITY CONTRACTS BROKERS & DEALERS | -0.53 |
| DRIP | Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X ETF | -0.48 |
| WTID | MicroSectors Energy -3x Inverse Leveraged ETNsCOMMERCIAL BANKS, NEC | -0.47 |
| NRGD | MicroSectors U.S. Big Oil -3x Inverse Leveraged ETNs due February 17, 2045COMMERCIAL BANKS, NEC | -0.46 |
| OILD | MicroSectors Oil & Gas Exp. & Prod. -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.46 |
Frequently asked questions about INDO correlations
- Which stocks are most correlated with INDO?
- Based on one year of daily returns, the stocks most correlated with Indonesia Energy Corporation Limited (INDO) are USCI (0.54), UCO (0.54) and USL (0.54). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with INDO?
- Over the past year, the stocks most inversely correlated with Indonesia Energy Corporation Limited (INDO) are SCO (-0.53), DRIP (-0.48) and WTID (-0.47). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these INDO correlations calculated?
- We compute the correlation of daily returns between INDO and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
Charts and financial information provided by TradingView, a popular charting & trading platform. Check out even more advanced features or grab charts for your website.