AVY vs BATL: Correlation
Avery Dennison (AVY) and Battalion Oil Corporation (BATL) show a negative relationship: their 3-year correlation of weekly returns is -0.17.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVY and BATL?
Over the past 3 years, AVY and BATL moved with a correlation of -0.17, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.28) than the 3-year average (-0.17). Over 5 years the correlation is -0.09, and the annualized covariance of weekly returns is -850.1 %².
Within AVY's tracked universe of 38 assets, BATL comes in at #29 by 3-year correlation. Over the last 12 months BATL came out ahead by 7.4 percentage points (+5.3% against +12.7%). Risk is not evenly split, since BATL carries 12.5 times the volatility of the other side.
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.
AVY vs BATL: side by side
| AVY (Avery Dennison) | BATL (Battalion Oil Corporation) | |
|---|---|---|
| 1-year return | +5.3% | +12.7% |
| 5-year return | -14.0% | -87.1% |
| Volatility (ann.) | 20.2% | 252.0% |
| Beta vs S&P 500 | 0.61 | -0.19 |
| Max drawdown (3Y) | -30.6% | -95.8% |
| Market cap | $13.5B | $0.1B |
| P/E (trailing) | 20.0 | – |
| Dividend yield | 2.10% | 0.00% |
| Sector / category | Materials | US Listed |
Year-by-year returns
| Year | AVY | BATL |
|---|---|---|
| 2022 | -15.1% | -0.9% |
| 2023 | +13.7% | -1.0% |
| 2024 | -5.9% | -82.1% |
| 2025 | -0.7% | -34.3% |
| 2026 | -0.8% | +17.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVY and BATL good diversifiers for each other?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between AVY and BATL?
The AVY/BATL correlation stands at -0.17 on a 3-year window (1 year: -0.28, 5 years: -0.09), computed from weekly returns as of 2026-08-27.
Is BATL a good diversifier for AVY?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
What does a correlation of -0.17 mean?
A reading of -0.17 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/avy-vs-batl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/avy-vs-batl/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AVY correlations · BATL correlations
