BATL vs ZBAO: Correlation
How closely do Battalion Oil Corporation (BATL) and Zhibao Technology Inc. - Class A (ZBAO) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BATL and ZBAO?
Over the past 3 years, BATL and ZBAO moved with a correlation of 0.37, which is moderate. The relationship has been stable: the 1-year correlation (0.46) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 8676.8 %².
Among the 44 assets we track against BATL, ZBAO ranks #11 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months BATL outperformed by 95.5 percentage points (+12.7% for BATL against -82.8% for ZBAO). One caveat on sizing: BATL is 3.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 ZBAO: side by side
| BATL (Battalion Oil Corporation) | ZBAO (Zhibao Technology Inc. - Class A) | |
|---|---|---|
| 1-year return | +12.7% | -82.8% |
| 5-year return | -87.1% | n/a |
| Volatility (ann.) | 252.0% | 85.1% |
| Beta vs S&P 500 | -0.19 | 1.27 |
| Max drawdown (3Y) | -95.8% | -96.6% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BATL | ZBAO |
|---|---|---|
| 2022 | -0.9% | – |
| 2023 | -1.0% | – |
| 2024 | -82.1% | – |
| 2025 | -34.3% | -42.6% |
| 2026 | +17.7% | -80.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BATL and ZBAO good diversifiers for each other?
Reasonably. At 0.37, BATL and ZBAO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BATL and ZBAO?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.46 over the last year and n/a over 5 years.
Is ZBAO a good diversifier for BATL?
Reasonably. At 0.37, BATL and ZBAO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.37 mean?
A reading of 0.37 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: BATL correlations · ZBAO correlations
