BATL vs DHR: Correlation
Battalion Oil Corporation (BATL) and Danaher Corporation (DHR) 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 BATL and DHR?
Over the past 3 years, BATL and DHR 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 (-0.30) than the 3-year average (-0.17). Over 5 years the correlation is -0.11, and the annualized covariance of weekly returns is -1242.9 %².
By 3-year correlation, DHR places #19 of the 44 assets tracked against BATL. Over the last 12 months BATL came out ahead by 6.7 percentage points (+12.7% against +6.0%). Note the risk asymmetry: BATL runs 8.5 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 DHR: side by side
| BATL (Battalion Oil Corporation) | DHR (Danaher Corporation) | |
|---|---|---|
| 1-year return | +12.7% | +6.0% |
| 5-year return | -87.1% | -23.8% |
| Volatility (ann.) | 252.0% | 29.5% |
| Beta vs S&P 500 | -0.19 | 0.82 |
| Max drawdown (3Y) | -95.8% | -41.7% |
| Market cap | $0.1B | $151.6B |
| P/E (trailing) | – | 38.4 |
| Dividend yield | 0.00% | 0.67% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | BATL | DHR |
|---|---|---|
| 2022 | -0.9% | -19.0% |
| 2023 | -1.0% | -1.2% |
| 2024 | -82.1% | -0.3% |
| 2025 | -34.3% | +0.4% |
| 2026 | +17.7% | -5.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BATL and DHR 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 BATL and DHR?
As of 2026-08-27, the correlation of weekly returns between BATL and DHR is -0.17 over 3 years, -0.30 over 1 year and -0.11 over 5 years.
Is DHR a good diversifier for BATL?
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.
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Related comparisons
Hubs: BATL correlations · DHR correlations
