BATL vs TBPH: Correlation
Battalion Oil Corporation (BATL) and Theravance Biopharma, Inc. (TBPH) show a negative relationship: their 3-year correlation of weekly returns is -0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BATL and TBPH?
On 3 years of weekly data the BATL/TBPH correlation comes out at -0.33, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.65) runs below the 3-year figure (-0.33). The 5-year figure is -0.25, and annualized covariance runs at -3513.4 %².
Out of 44 assets tracked against BATL, TBPH lands near the bottom at #43. Over the last 12 months TBPH came out ahead by 10.8 percentage points (+12.7% against +23.5%). Note the risk asymmetry: BATL runs 5.9 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 TBPH: side by side
| BATL (Battalion Oil Corporation) | TBPH (Theravance Biopharma, Inc.) | |
|---|---|---|
| 1-year return | +12.7% | +23.5% |
| 5-year return | -87.1% | +102.9% |
| Volatility (ann.) | 252.0% | 42.5% |
| Beta vs S&P 500 | -0.19 | 0.92 |
| Max drawdown (3Y) | -95.8% | -34.6% |
| Market cap | $0.1B | $0.9B |
| P/E (trailing) | – | 16.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BATL | TBPH |
|---|---|---|
| 2022 | -0.9% | +1.5% |
| 2023 | -1.0% | +0.2% |
| 2024 | -82.1% | -16.3% |
| 2025 | -34.3% | +98.8% |
| 2026 | +17.7% | -8.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BATL and TBPH good diversifiers for each other?
Yes. With a correlation of -0.33, BATL and TBPH have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BATL and TBPH?
As of 2026-08-27, the correlation of weekly returns between BATL and TBPH is -0.33 over 3 years, -0.65 over 1 year and -0.25 over 5 years.
Is TBPH a good diversifier for BATL?
Yes. With a correlation of -0.33, BATL and TBPH have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.33 mean?
On the −1 to +1 scale, -0.33 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-tbph.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/batl-vs-tbph/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BATL correlations · TBPH correlations
