ABAT vs SLGL: Correlation
How closely do American Battery Technology Company (ABAT) and Sol-Gel Technologies Ltd. (SLGL) trade together? Their weekly returns over three years give a correlation of 0.63, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABAT and SLGL?
On 3 years of weekly data the ABAT/SLGL correlation comes out at 0.63, strong. Lately the two have drifted apart, with the 1-year correlation at 0.28 versus 0.63 over 3 years. The 5-year figure is 0.56, and annualized covariance runs at 12697.3 %².
Among the 29 assets we track against ABAT, SLGL ranks #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with SLGL ahead by 228.5 points (+2.1% versus +230.6%).
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.
ABAT vs SLGL: side by side
| ABAT (American Battery Technology Company) | SLGL (Sol-Gel Technologies Ltd.) | |
|---|---|---|
| 1-year return | +2.1% | +230.6% |
| 5-year return | -88.8% | -25.1% |
| Volatility (ann.) | 153.9% | 130.8% |
| Beta vs S&P 500 | 2.08 | 1.42 |
| Max drawdown (3Y) | -93.2% | -86.8% |
| Market cap | $0.4B | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ABAT | SLGL |
|---|---|---|
| 2022 | -62.0% | -38.4% |
| 2023 | -23.2% | -75.8% |
| 2024 | -47.5% | -15.8% |
| 2025 | +35.8% | +353.1% |
| 2026 | -19.9% | +72.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABAT and SLGL good diversifiers for each other?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ABAT and SLGL?
As of 2026-08-27, the correlation of weekly returns between ABAT and SLGL is 0.63 over 3 years, 0.28 over 1 year and 0.56 over 5 years.
Is SLGL a good diversifier for ABAT?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.63 mean?
A reading of 0.63 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/abat-vs-slgl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/abat-vs-slgl/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ABAT correlations · SLGL correlations
