BATL vs CSTE: Correlation
Battalion Oil Corporation (BATL) and Caesarstone Ltd. (CSTE) show a negative relationship: their 3-year correlation of weekly returns is -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BATL and CSTE?
On 3 years of weekly data the BATL/CSTE correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.37 versus -0.26 over 3 years. The 5-year figure is -0.23, and annualized covariance runs at -6675.5 %².
By 3-year correlation, CSTE places #35 of the 44 assets tracked against BATL. The last year tells two different stories: CSTE led by 104.2 percentage points, +12.7% for BATL against +116.9% for CSTE. Note the risk asymmetry: BATL runs 2.5 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.
BATL vs CSTE: side by side
| BATL (Battalion Oil Corporation) | CSTE (Caesarstone Ltd.) | |
|---|---|---|
| 1-year return | +12.7% | +116.9% |
| 5-year return | -87.1% | -74.8% |
| Volatility (ann.) | 252.0% | 100.4% |
| Beta vs S&P 500 | -0.19 | 1.27 |
| Max drawdown (3Y) | -95.8% | -90.8% |
| Market cap | $0.1B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BATL | CSTE |
|---|---|---|
| 2022 | -0.9% | -48.4% |
| 2023 | -1.0% | -34.5% |
| 2024 | -82.1% | +13.6% |
| 2025 | -34.3% | -56.2% |
| 2026 | +17.7% | +72.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BATL and CSTE good diversifiers for each other?
Yes. With a correlation of -0.26, BATL and CSTE have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BATL and CSTE?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.37 over the last year and -0.23 over 5 years.
Is CSTE a good diversifier for BATL?
Yes. With a correlation of -0.26, BATL and CSTE have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/batl-vs-cste.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/batl-vs-cste/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BATL correlations · CSTE correlations
