BATL vs MMM: Correlation
How closely do Battalion Oil Corporation (BATL) and 3M (MMM) trade together? Their weekly returns over three years give a correlation of -0.16, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BATL and MMM?
On 3 years of weekly data the BATL/MMM correlation comes out at -0.16, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.42) runs below the 3-year figure (-0.16). The 5-year figure is -0.09, and annualized covariance runs at -1176.8 %².
Among the 44 assets we track against BATL, MMM ranks #16 by 3-year correlation. Twelve-month performance is nearly a tie, at +12.7% for BATL and +16.4% for MMM. 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 MMM: side by side
| BATL (Battalion Oil Corporation) | MMM (3M) | |
|---|---|---|
| 1-year return | +12.7% | +16.4% |
| 5-year return | -87.1% | +29.9% |
| Volatility (ann.) | 252.0% | 29.8% |
| Beta vs S&P 500 | -0.19 | 0.89 |
| Max drawdown (3Y) | -95.8% | -20.7% |
| Market cap | $0.1B | $92.2B |
| P/E (trailing) | – | 31.9 |
| Dividend yield | 0.00% | 1.68% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | BATL | MMM |
|---|---|---|
| 2022 | -0.9% | -29.6% |
| 2023 | -1.0% | -3.3% |
| 2024 | -82.1% | +46.1% |
| 2025 | -34.3% | +26.4% |
| 2026 | +17.7% | +13.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BATL and MMM good diversifiers for each other?
Yes. With a correlation of -0.16, BATL and MMM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BATL and MMM?
As of 2026-08-27, the correlation of weekly returns between BATL and MMM is -0.16 over 3 years, -0.42 over 1 year and -0.09 over 5 years.
Is MMM a good diversifier for BATL?
Yes. With a correlation of -0.16, BATL and MMM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.16 mean?
On the −1 to +1 scale, -0.16 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-mmm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/batl-vs-mmm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BATL correlations · MMM correlations
