BATL vs GO: Correlation
How closely do Battalion Oil Corporation (BATL) and Grocery Outlet Holding Corp. (GO) trade together? Their weekly returns over three years give a correlation of -0.28, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BATL and GO?
On 3 years of weekly data the BATL/GO correlation comes out at -0.28, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.52) runs below the 3-year figure (-0.28). The 5-year figure is -0.26, and annualized covariance runs at -3739.2 %².
Among the 44 assets we track against BATL, GO ranks #38 by 3-year correlation. The last year tells two different stories: BATL led by 49.5 percentage points, +12.7% for BATL against -36.8% for GO. One caveat on sizing: BATL is 4.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 GO: side by side
| BATL (Battalion Oil Corporation) | GO (Grocery Outlet Holding Corp.) | |
|---|---|---|
| 1-year return | +12.7% | -36.8% |
| 5-year return | -87.1% | -54.0% |
| Volatility (ann.) | 252.0% | 52.6% |
| Beta vs S&P 500 | -0.19 | 0.76 |
| Max drawdown (3Y) | -95.8% | -81.7% |
| Market cap | $0.1B | $1.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BATL | GO |
|---|---|---|
| 2022 | -0.9% | +3.2% |
| 2023 | -1.0% | -7.6% |
| 2024 | -82.1% | -42.1% |
| 2025 | -34.3% | -35.3% |
| 2026 | +17.7% | +15.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BATL and GO good diversifiers for each other?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BATL and GO?
Using weekly returns as of 2026-08-27: -0.28 over 3 years, with -0.52 over the last year and -0.26 over 5 years.
Is GO a good diversifier for BATL?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.28 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-go.json
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[](https://www.pairbook.io/pair/batl-vs-go/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BATL correlations · GO correlations
