ALTO vs BATL: Correlation
Measured on weekly returns over the past three years, Alto Ingredients, Inc. (ALTO) and Battalion Oil Corporation (BATL) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALTO and BATL?
On 3 years of weekly data the ALTO/BATL correlation comes out at 0.41, moderate. The link has tightened recently: the 1-year correlation (0.51) runs above the 3-year figure (0.41). The 5-year figure is 0.35, and annualized covariance runs at 9594.0 %².
BATL is one of the assets that tracks ALTO most closely: it ranks #2 out of the 15 assets we track against ALTO. The last year tells two different stories: ALTO led by 276.8 percentage points, +289.5% for ALTO against +12.7% for BATL. Note the risk asymmetry: BATL runs 2.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ALTO vs BATL: side by side
| ALTO (Alto Ingredients, Inc.) | BATL (Battalion Oil Corporation) | |
|---|---|---|
| 1-year return | +289.5% | +12.7% |
| 5-year return | -16.4% | -87.1% |
| Volatility (ann.) | 93.7% | 252.0% |
| Beta vs S&P 500 | 0.15 | -0.19 |
| Max drawdown (3Y) | -84.1% | -95.8% |
| Market cap | $0.3B | $0.1B |
| P/E (trailing) | 6.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALTO | BATL |
|---|---|---|
| 2022 | -40.1% | -0.9% |
| 2023 | -7.6% | -1.0% |
| 2024 | -41.4% | -82.1% |
| 2025 | +84.6% | -34.3% |
| 2026 | +42.0% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALTO and BATL good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ALTO and BATL?
As of 2026-08-27, the correlation of weekly returns between ALTO and BATL is 0.41 over 3 years, 0.51 over 1 year and 0.35 over 5 years.
Is BATL a good diversifier for ALTO?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 mean?
A reading of 0.41 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/alto-vs-batl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/alto-vs-batl/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALTO correlations · BATL correlations
