CERY vs. NOG
CERY (SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF) is Commodities fund tracking the Bloomberg Enhanced Roll Yield Total Return Index, while NOG (Northern Oil and Gas, Inc.) is a stock. Over the past year, CERY returned 37.10% vs -18.99% for NOG. Their 0.52 correlation means they have sometimes moved together and sometimes differently.
Performance
CERY vs. NOG - Performance Comparison
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Returns By Period
In the year-to-date period, CERY achieves a 25.95% return, which is significantly higher than NOG's 2.37% return.
CERY
- 1D
- -0.22%
- 1M
- 7.99%
- 6M
- 15.18%
- YTD
- 25.95%
- 1Y
- 37.10%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 24.32%
NOG
- 1D
- 1.49%
- 1M
- 20.44%
- 6M
- -12.08%
- YTD
- 2.37%
- 1Y
- -18.99%
- 3Y*
- -13.95%
- 5Y*
- 9.05%
- 10Y*
- -2.51%
- ALL TIME*
- -2.08%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $5.02M | $9.94M | $6.85M | |
| $54.84M | $61.54M | $65.18M |
CERY vs. NOG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | 25.95% | 15.68% | 3.80% |
NOG Northern Oil and Gas, Inc. | 2.37% | -38.20% | 3.69% |
Correlation
The correlation between CERY and NOG is 0.52, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.52 |
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024 | 0.52 |
The correlation between CERY and NOG has been stable across timeframes, ranging from 0.52 to 0.52 - a consistent structural relationship.
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Return for Risk
CERY vs. NOG — Risk / Return Rank
CERY
NOG
CERY vs. NOG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY) and Northern Oil and Gas, Inc. (NOG). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CERY | NOG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.72 | ||
| Sortino ratioReturn per unit of downside risk | +3.33 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 0.96 | +0.43 |
| Calmar ratioReturn relative to maximum drawdown | 2.60 | -0.46 | +3.06 |
| Martin ratioReturn relative to average drawdown | 8.97 | -1.03 | +10.00 |
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Drawdowns
CERY vs. NOG - Drawdown Comparison
The maximum CERY drawdown since its inception was -14.33%, smaller than the maximum NOG drawdown of -98.96%. Use the drawdown chart below to compare losses from any high point for CERY and NOG.
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Drawdown Indicators
| CERY | NOG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.33% | -98.96% | +84.63% |
Max Drawdown (1Y)Largest decline over 1 year | -14.33% | -41.43% | +27.10% |
Max Drawdown (3Y)Largest decline over 3 years | — | -55.08% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -55.08% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -92.15% | — |
Current DrawdownCurrent decline from peak | -6.62% | -91.84% | +85.22% |
Average DrawdownAverage peak-to-trough decline | -2.69% | -69.89% | +67.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.15% | 19.41% | -15.26% |
Volatility
CERY vs. NOG - Volatility Comparison
The current volatility for SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY) is 5.02%, while Northern Oil and Gas, Inc. (NOG) has a volatility of 16.52%. This indicates that CERY experiences smaller price fluctuations and is considered to be less risky than NOG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CERY | NOG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.02% | 16.52% | -11.50% |
Volatility (6M)Calculated over the trailing 6-month period | 13.85% | 33.58% | -19.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.20% | 46.31% | -30.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.94% | 49.16% | -34.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.94% | 70.52% | -55.58% |
Dividends
CERY vs. NOG - Dividend Comparison
CERY's dividend yield for the trailing twelve months is around 3.97%, less than NOG's 8.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | 3.97% | 4.99% | 0.52% | 0.00% | 0.00% | 0.00% |
NOG Northern Oil and Gas, Inc. | 8.51% | 8.38% | 4.41% | 4.02% | 2.86% | 0.75% |
Frequently Asked Questions
CERY and NOG have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NOG has higher volatility (16.52%) compared to CERY (5.02%). In terms of maximum drawdown, CERY dropped -14.33% vs NOG's -98.96%.
CERY currently has the higher Sharpe Ratio (2.30 vs -0.41), 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.
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