INDO vs. UVXY

Last updated Jun 4, 2026

INDO (Indonesia Energy Corporation Limited) is a stock, while UVXY (ProShares Ultra VIX Short-Term Futures ETF) is Volatility fund tracking the S&P 500 VIX SHORT-TERM FUTURES TR (150%). Over the past 5 years, INDO returned -12.65%/yr vs -67.90%/yr for UVXY. At a correlation of -0.07, they often move in opposite directions.

Performance

INDO vs. UVXY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Indonesia Energy Corporation Limited (INDO) and ProShares Ultra VIX Short-Term Futures ETF (UVXY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, INDO achieves a 0.34% return, which is significantly higher than UVXY's -19.06% return.

INDO

• 1D: 0.68%
• 1M: -15.03%
• YTD: 0.34%
• 6M: 2.08%
• 1Y: 16.21%
• 3Y*: -15.13%
• 5Y*: -12.65%
• 10Y*: —

UVXY

• 1D: -0.24%
• 1M: -22.10%
• YTD: -19.06%
• 6M: -37.37%
• 1Y: -72.91%
• 3Y*: -64.55%
• 5Y*: -67.90%
• 10Y*: -72.67%

*Multi-year figures are annualized to reflect compound growth (CAGR)

INDO vs. UVXY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
INDO Indonesia Energy Corporation Limited	0.34%	5.40%	2.58%	-41.85%	66.43%	-62.67%	2.60%	-24.25%
UVXY ProShares Ultra VIX Short-Term Futures ETF	-19.06%	-65.32%	-50.90%	-87.70%	-44.81%	-88.33%	-17.38%	0.70%

Correlation

The correlation between INDO and UVXY is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.10
Correlation (5Y) Calculated over the trailing 5-year period	-0.03
Correlation (All Time) Calculated using the full available price history since Dec 23, 2019	-0.07

The correlation between INDO and UVXY shifts across timeframes, from -0.07 (all time) to 0.25 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

INDO vs. UVXY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

INDO

INDO Risk / Return Rank: 50
INDO Sharpe Ratio Rank: 46
INDO Sortino Ratio Rank: 56
INDO Omega Ratio Rank: 58
INDO Calmar Ratio Rank: 47
INDO Martin Ratio Rank: 45

UVXY

UVXY Risk / Return Rank: 1
UVXY Sharpe Ratio Rank: 2
UVXY Sortino Ratio Rank: 1
UVXY Omega Ratio Rank: 1
UVXY Calmar Ratio Rank: 1
UVXY Martin Ratio Rank: 2

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

INDO vs. UVXY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Indonesia Energy Corporation Limited (INDO) and ProShares Ultra VIX Short-Term Futures ETF (UVXY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	INDO	UVXY	Difference
Sharpe ratio: Return per unit of total volatility	0.15	-0.87	+1.01
Sortino ratio: Return per unit of downside risk	1.07	-1.60	+2.67
Omega ratio: Gain probability vs. loss probability	1.15	0.82	+0.33
Calmar ratio: Return relative to maximum drawdown	0.28	-0.97	+1.25
Martin ratio: Return relative to average drawdown	0.39	-1.31	+1.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

INDO vs. UVXY - Sharpe Ratio Comparison

The current INDO Sharpe Ratio is 0.15, which is higher than the UVXY Sharpe Ratio of -0.87. The chart below compares the historical Sharpe Ratios of INDO and UVXY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	INDO	UVXY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.15	-0.87	+1.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.09	-0.66	+0.57
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.64	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.12	-0.68	+0.56

Drawdowns

INDO vs. UVXY - Drawdown Comparison

The maximum INDO drawdown since its inception was -96.57%, roughly equal to the maximum UVXY drawdown of -100.00%. Use the drawdown chart below to compare losses from any high point for INDO and UVXY.

Drawdown Indicators

	INDO	UVXY	Difference
Max Drawdown Largest peak-to-trough decline	-96.57%	-100.00%	+3.43%
Max Drawdown (1Y) Largest decline over 1 year	-58.01%	-75.22%	+17.21%
Max Drawdown (3Y) Largest decline over 3 years	-65.13%	-95.45%	+30.32%
Max Drawdown (5Y) Largest decline over 5 years	-96.57%	-99.68%	+3.11%
Max Drawdown (10Y) Largest decline over 10 years	—	-100.00%	—
Current Drawdown Current decline from peak	-95.22%	-100.00%	+4.78%
Average Drawdown Average peak-to-trough decline	-76.55%	-98.55%	+22.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	41.87%	55.63%	-13.76%

Volatility

INDO vs. UVXY - Volatility Comparison

Indonesia Energy Corporation Limited (INDO) has a higher volatility of 17.81% compared to ProShares Ultra VIX Short-Term Futures ETF (UVXY) at 11.77%. This indicates that INDO's price experiences larger fluctuations and is considered to be riskier than UVXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INDO	UVXY	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.81%	11.77%	+6.04%
Volatility (6M) Calculated over the trailing 6-month period	79.47%	62.64%	+16.83%
Volatility (1Y) Calculated over the trailing 1-year period	110.22%	84.42%	+25.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	145.40%	103.85%	+41.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	146.21%	113.82%	+32.39%

Dividends

INDO vs. UVXY - Dividend Comparison

Neither INDO nor UVXY has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both INDO and UVXY in my portfolio?

INDO and UVXY have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, INDO or UVXY?

INDO has higher volatility (17.81%) compared to UVXY (11.77%). In terms of maximum drawdown, INDO dropped -96.57% vs UVXY's -100.00%.

Which has better risk-adjusted returns?

INDO currently has the higher Sharpe Ratio (0.15 vs -0.87), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.