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 29.64% vs -35.02% for NOG. A 0.51 correlation means they provide meaningful diversification when combined.
Performance
CERY vs. NOG - Performance Comparison
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Returns By Period
In the year-to-date period, CERY achieves a 20.77% return, which is significantly higher than NOG's -10.36% return.
CERY
- 1D
- 0.00%
- 1M
- -2.91%
- 6M
- 16.72%
- YTD
- 20.77%
- 1Y
- 29.64%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NOG
- 1D
- -1.44%
- 1M
- -7.12%
- 6M
- -12.00%
- YTD
- -10.36%
- 1Y
- -35.02%
- 3Y*
- -14.51%
- 5Y*
- 3.47%
- 10Y*
- -7.03%
CERY vs. NOG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | 20.77% | 15.68% | 3.80% |
NOG Northern Oil and Gas, Inc. | -10.36% | -38.20% | 3.69% |
Correlation
The correlation between CERY and NOG is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024 | 0.51 |
The correlation between CERY and NOG has been stable across timeframes, ranging from 0.49 to 0.51 - 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 | +2.74 | ||
| Sortino ratioReturn per unit of downside risk | +3.57 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 0.89 | +0.45 |
| Calmar ratioReturn relative to maximum drawdown | 2.15 | -0.85 | +3.00 |
| Martin ratioReturn relative to average drawdown | 7.97 | -1.62 | +9.59 |
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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 | — | -92.98% | — |
Current DrawdownCurrent decline from peak | -10.46% | -92.85% | +82.39% |
Average DrawdownAverage peak-to-trough decline | -2.56% | -69.82% | +67.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.86% | 21.78% | -17.92% |
Volatility
CERY vs. NOG - Volatility Comparison
The current volatility for SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY) is 4.37%, while Northern Oil and Gas, Inc. (NOG) has a volatility of 14.14%. 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 | 4.37% | 14.14% | -9.77% |
Volatility (6M)Calculated over the trailing 6-month period | 13.59% | 32.39% | -18.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.73% | 45.38% | -29.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.81% | 49.25% | -34.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.81% | 70.57% | -55.76% |
Dividends
CERY vs. NOG - Dividend Comparison
CERY's dividend yield for the trailing twelve months is around 4.14%, less than NOG's 9.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | 4.14% | 4.99% | 0.52% | 0.00% | 0.00% | 0.00% |
NOG Northern Oil and Gas, Inc. | 9.72% | 8.38% | 4.41% | 4.02% | 2.86% | 0.75% |
Frequently Asked Questions
CERY and NOG have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NOG has higher volatility (14.14%) compared to CERY (4.37%). In terms of maximum drawdown, CERY dropped -14.33% vs NOG's -98.96%.
CERY currently has the higher Sharpe Ratio (1.96 vs -0.78), 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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