BATL vs NCI: Correlation
Measured on weekly returns over the past three years, Battalion Oil Corporation (BATL) and Neo-Concept International Group Holdings Limited - Class A (NCI) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BATL and NCI?
On 3 years of weekly data the BATL/NCI correlation comes out at 0.43, moderate. The relationship has been stable: the 1-year correlation (0.46) sits close to the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at 22247.4 %².
Among the 44 assets we track against BATL, NCI ranks #9 by 3-year correlation. The last year tells two different stories: BATL led by 18.5 percentage points, +12.7% for BATL against -5.8% for NCI.
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 NCI: side by side
| BATL (Battalion Oil Corporation) | NCI (Neo-Concept International Group Holdings Limited - Class A) | |
|---|---|---|
| 1-year return | +12.7% | -5.8% |
| 5-year return | -87.1% | n/a |
| Volatility (ann.) | 252.0% | 184.4% |
| Beta vs S&P 500 | -0.19 | -0.24 |
| Max drawdown (3Y) | -95.8% | -99.0% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | 154.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BATL | NCI |
|---|---|---|
| 2022 | -0.9% | – |
| 2023 | -1.0% | – |
| 2024 | -82.1% | – |
| 2025 | -34.3% | -65.8% |
| 2026 | +17.7% | +36.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BATL and NCI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BATL and NCI?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.46 over the last year and n/a over 5 years.
Is NCI a good diversifier for BATL?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 mean?
On the −1 to +1 scale, 0.43 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-nci.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/batl-vs-nci/)
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Related comparisons
Hubs: BATL correlations · NCI correlations
