TPET vs. BATL

Last updated Jun 4, 2026

TPET (Trio Petroleum Corp.) and BATL (Battalion Oil Corporation) are both stocks. Both operate in the Oil & Gas E&P industry within the Energy sector. Over the past 3 years, TPET returned -35.56%/yr vs -39.37%/yr for BATL. At a 0.22 correlation, their price movements are largely independent.

Performance

TPET vs. BATL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Trio Petroleum Corp. (TPET) and Battalion Oil Corporation (BATL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TPET achieves a -51.17% return, which is significantly lower than BATL's 36.28% return.

TPET

• 1D: 2.03%
• 1M: -27.53%
• YTD: -51.17%
• 6M: -56.19%
• 1Y: -66.29%
• 3Y*: -35.56%
• 5Y*: —
• 10Y*: —

BATL

• 1D: 3.36%
• 1M: -58.04%
• YTD: 36.28%
• 6M: 32.76%
• 1Y: 14.93%
• 3Y*: -39.37%
• 5Y*: -34.23%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

TPET vs. BATL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TPET Trio Petroleum Corp.	-51.17%	-34.38%	290.45%	-86.35%
BATL Battalion Oil Corporation	36.28%	-34.30%	-82.10%	29.86%

Correlation

The correlation between TPET and BATL is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.21
Correlation (All Time) Calculated using the full available price history since Apr 19, 2023	0.22

Over the past year, TPET and BATL have become more correlated (0.48) than their long-term average of 0.22, meaning their price movements have been converging.

Fundamentals

Market Cap TPET : $4.08M BATL : $26.82M
EPS TPET : -$0.73 BATL : -$3.03
PS Ratio TPET : 6.98 BATL : 0.16
PB Ratio TPET : 0.33 BATL : 0.17
Total Revenue (TTM) TPET : $510.11K BATL : $156.88M
Gross Profit (TTM) TPET : $243.02K BATL : $24.18M
EBITDA (TTM) TPET : -$6.18M BATL : $44.32M

Return for Risk

TPET vs. BATL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TPET

TPET Risk / Return Rank: 31
TPET Sharpe Ratio Rank: 29
TPET Sortino Ratio Rank: 51
TPET Omega Ratio Rank: 52
TPET Calmar Ratio Rank: 10
TPET Martin Ratio Rank: 11

BATL

BATL Risk / Return Rank: 61
BATL Sharpe Ratio Rank: 42
BATL Sortino Ratio Rank: 88
BATL Omega Ratio Rank: 87
BATL Calmar Ratio Rank: 44
BATL Martin Ratio Rank: 43

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TPET vs. BATL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Trio Petroleum Corp. (TPET) and Battalion Oil Corporation (BATL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	TPET	BATL	Difference
Sharpe ratio: Return per unit of total volatility	-0.28	0.05	-0.33
Sortino ratio: Return per unit of downside risk	0.87	3.02	-2.15
Omega ratio: Gain probability vs. loss probability	1.12	1.39	-0.27
Calmar ratio: Return relative to maximum drawdown	-0.81	0.16	-0.97
Martin ratio: Return relative to average drawdown	-1.30	0.25	-1.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TPET vs. BATL - Sharpe Ratio Comparison

The current TPET Sharpe Ratio is -0.28, which is lower than the BATL Sharpe Ratio of 0.05. The chart below compares the historical Sharpe Ratios of TPET and BATL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TPET	BATL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.28	0.05	-0.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	-0.20	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.04	-0.15	+0.11

Drawdowns

TPET vs. BATL - Drawdown Comparison

The maximum TPET drawdown since its inception was -96.54%, roughly equal to the maximum BATL drawdown of -95.23%. Use the drawdown chart below to compare losses from any high point for TPET and BATL.

Drawdown Indicators

	TPET	BATL	Difference
Max Drawdown Largest peak-to-trough decline	-96.54%	-95.23%	-1.31%
Max Drawdown (1Y) Largest decline over 1 year	-82.00%	-94.76%	+12.76%
Max Drawdown (3Y) Largest decline over 3 years	-95.09%	-94.76%	-0.33%
Max Drawdown (5Y) Largest decline over 5 years	—	-95.23%	—
Current Drawdown Current decline from peak	-85.42%	-94.44%	+9.02%
Average Drawdown Average peak-to-trough decline	-68.26%	-59.30%	-8.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	50.97%	60.88%	-9.91%

Volatility

TPET vs. BATL - Volatility Comparison

The current volatility for Trio Petroleum Corp. (TPET) is 22.15%, while Battalion Oil Corporation (BATL) has a volatility of 35.26%. This indicates that TPET experiences smaller price fluctuations and is considered to be less risky than BATL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TPET	BATL	Difference
Volatility (1M) Calculated over the trailing 1-month period	22.15%	35.26%	-13.11%
Volatility (6M) Calculated over the trailing 6-month period	178.05%	213.17%	-35.12%
Volatility (1Y) Calculated over the trailing 1-year period	234.02%	317.03%	-83.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1,098.09%	173.26%	+924.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1,098.09%	167.44%	+930.65%

Dividends

TPET vs. BATL - Dividend Comparison

Neither TPET nor BATL has paid dividends to shareholders.

Tickers have no history of dividend payments

Financials

Frequently Asked Questions

Can I hold both TPET and BATL in my portfolio?

TPET and BATL have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TPET or BATL?

BATL has higher volatility (35.26%) compared to TPET (22.15%). In terms of maximum drawdown, TPET dropped -96.54% vs BATL's -95.23%.

Which has better risk-adjusted returns?

BATL currently has the higher Sharpe Ratio (0.05 vs -0.28), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.