BATL vs EDSA: Correlation
How closely do Battalion Oil Corporation (BATL) and Edesa Biotech, Inc. (EDSA) trade together? Their weekly returns over three years give a correlation of 0.45, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BATL and EDSA?
On 3 years of weekly data the BATL/EDSA correlation comes out at 0.45, moderate. The relationship has been stable: the 1-year correlation (0.50) sits close to the 3-year figure. The 5-year figure is 0.39, and annualized covariance runs at 21599.6 %².
Among the 44 assets we track against BATL, EDSA ranks #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months EDSA outperformed by 79.0 percentage points (+12.7% for BATL against +91.7% for EDSA).
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 EDSA: side by side
| BATL (Battalion Oil Corporation) | EDSA (Edesa Biotech, Inc.) | |
|---|---|---|
| 1-year return | +12.7% | +91.7% |
| 5-year return | -87.1% | -87.4% |
| Volatility (ann.) | 252.0% | 190.4% |
| Beta vs S&P 500 | -0.19 | -0.03 |
| Max drawdown (3Y) | -95.8% | -87.3% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BATL | EDSA |
|---|---|---|
| 2022 | -0.9% | -61.6% |
| 2023 | -1.0% | -69.8% |
| 2024 | -82.1% | -63.2% |
| 2025 | -34.3% | -15.5% |
| 2026 | +17.7% | +223.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BATL and EDSA good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BATL and EDSA?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.50 over the last year and 0.39 over 5 years.
Is EDSA a good diversifier for BATL?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/batl-vs-edsa.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/batl-vs-edsa/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BATL correlations · EDSA correlations
