BATL vs USO: Correlation
How closely do Battalion Oil Corporation (BATL) and United States Oil Fund (USO) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BATL and USO?
Across a 3-year window, the weekly returns of BATL and USO correlate at 0.49, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.60 versus 0.49 over 3 years. Stretching to 5 years gives 0.43, with an annualized covariance of 4817.5 %².
Among the 44 assets we track against BATL, USO ranks #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months USO outperformed by 61.4 percentage points (+12.7% for BATL against +74.1% for USO). Note the risk asymmetry: BATL runs 6.4 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 USO: side by side
| BATL (Battalion Oil Corporation) | USO (United States Oil Fund) | |
|---|---|---|
| 1-year return | +12.7% | +74.1% |
| 5-year return | -87.1% | +168.6% |
| Volatility (ann.) | 252.0% | 39.4% |
| Beta vs S&P 500 | -0.19 | -0.20 |
| Max drawdown (3Y) | -95.8% | -32.5% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Commodities |
Year-by-year returns
| Year | BATL | USO |
|---|---|---|
| 2022 | -0.9% | +29.0% |
| 2023 | -1.0% | -4.9% |
| 2024 | -82.1% | +13.4% |
| 2025 | -34.3% | -8.5% |
| 2026 | +17.7% | +88.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BATL and USO good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BATL and USO?
As of 2026-08-27, the correlation of weekly returns between BATL and USO is 0.49 over 3 years, 0.60 over 1 year and 0.43 over 5 years.
Is USO a good diversifier for BATL?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.49 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-uso.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/batl-vs-uso/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BATL correlations · USO correlations
