BATL vs IFF: Correlation
Measured on weekly returns over the past three years, Battalion Oil Corporation (BATL) and International Flavors & Fragrances (IFF) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BATL and IFF?
Across a 3-year window, the weekly returns of BATL and IFF correlate at -0.23, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.37) than the 3-year average (-0.23). Stretching to 5 years gives -0.13, with an annualized covariance of -1686.8 %².
Within BATL's tracked universe of 44 assets, IFF comes in at #31 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months IFF outperformed by 20.5 percentage points (+12.7% for BATL against +33.2% for IFF). Risk is not evenly split, since BATL carries 8.5 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.
BATL vs IFF: side by side
| BATL (Battalion Oil Corporation) | IFF (International Flavors & Fragrances) | |
|---|---|---|
| 1-year return | +12.7% | +33.2% |
| 5-year return | -87.1% | -34.3% |
| Volatility (ann.) | 252.0% | 29.5% |
| Beta vs S&P 500 | -0.19 | 0.69 |
| Max drawdown (3Y) | -95.8% | -42.6% |
| Market cap | $0.1B | $22.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.84% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | BATL | IFF |
|---|---|---|
| 2022 | -0.9% | -28.3% |
| 2023 | -1.0% | -19.5% |
| 2024 | -82.1% | +6.3% |
| 2025 | -34.3% | -18.4% |
| 2026 | +17.7% | +30.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BATL and IFF good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BATL and IFF?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.37 over the last year and -0.13 over 5 years.
Is IFF a good diversifier for BATL?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 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-iff.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/batl-vs-iff/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BATL correlations · IFF correlations
