CVX vs. NOG
CVX (Chevron Corporation) and NOG (Northern Oil and Gas, Inc.) are both stocks. Both are in the Energy sector — CVX in Oil & Gas Integrated, NOG in Oil & Gas E&P. Over the past 10 years, CVX returned 9.70%/yr vs -7.03%/yr for NOG. A 0.51 correlation means they provide meaningful diversification when combined.
Performance
CVX vs. NOG - Performance Comparison
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Returns By Period
In the year-to-date period, CVX achieves a 17.94% return, which is significantly higher than NOG's -10.36% return. Over the past 10 years, CVX has outperformed NOG with an annualized return of 9.70%, while NOG has yielded a comparatively lower -7.03% annualized return.
CVX
- 1D
- 1.35%
- 1M
- -5.07%
- 6M
- 10.89%
- YTD
- 17.94%
- 1Y
- 18.34%
- 3Y*
- 8.17%
- 5Y*
- 15.79%
- 10Y*
- 9.70%
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%
CVX vs. NOG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CVX Chevron Corporation | 17.94% | 10.10% | 1.29% | -13.63% | 58.46% | 46.24% | -25.95% | 15.27% | -9.75% | 10.59% |
NOG Northern Oil and Gas, Inc. | -10.36% | -38.20% | 4.84% | 25.54% | 54.51% | 136.72% | -62.56% | 3.54% | 10.24% | -25.45% |
Correlation
The correlation between CVX and NOG is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Apr 13, 2007 | 0.51 |
The correlation between CVX and NOG shifts across timeframes, from 0.51 (all time) to 0.69 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
CVX:
$351.32B
NOG:
$2.01B
CVX:
$5.57
NOG:
-$6.34
CVX:
1.88
NOG:
1.20
CVX:
1.91
NOG:
1.02
CVX:
$185.89B
NOG:
$1.52B
CVX:
$47.27B
NOG:
$450.66M
CVX:
$40.44B
NOG:
$73.21M
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Return for Risk
CVX vs. NOG — Risk / Return Rank
CVX
NOG
CVX vs. NOG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Chevron Corporation (CVX) 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.
| CVX | NOG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.63 | ||
| Sortino ratioReturn per unit of downside risk | +2.23 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 0.89 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 0.93 | -0.85 | +1.78 |
| Martin ratioReturn relative to average drawdown | 2.63 | -1.62 | +4.25 |
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Drawdowns
CVX vs. NOG - Drawdown Comparison
The maximum CVX drawdown since its inception was -55.77%, smaller than the maximum NOG drawdown of -98.96%. Use the drawdown chart below to compare losses from any high point for CVX and NOG.
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Drawdown Indicators
| CVX | NOG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.77% | -98.96% | +43.19% |
Max Drawdown (1Y)Largest decline over 1 year | -20.81% | -41.43% | +20.62% |
Max Drawdown (3Y)Largest decline over 3 years | -20.81% | -55.08% | +34.27% |
Max Drawdown (5Y)Largest decline over 5 years | -24.95% | -55.08% | +30.13% |
Max Drawdown (10Y)Largest decline over 10 years | -55.77% | -92.98% | +37.21% |
Current DrawdownCurrent decline from peak | -15.69% | -92.85% | +77.16% |
Average DrawdownAverage peak-to-trough decline | -11.40% | -69.82% | +58.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.32% | 21.78% | -14.46% |
Volatility
CVX vs. NOG - Volatility Comparison
The current volatility for Chevron Corporation (CVX) is 8.03%, while Northern Oil and Gas, Inc. (NOG) has a volatility of 14.14%. This indicates that CVX 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
| CVX | NOG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.03% | 14.14% | -6.11% |
Volatility (6M)Calculated over the trailing 6-month period | 17.67% | 32.39% | -14.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.53% | 45.38% | -22.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.16% | 49.25% | -24.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.21% | 70.57% | -41.36% |
Dividends
CVX vs. NOG - Dividend Comparison
CVX's dividend yield for the trailing twelve months is around 3.96%, less than NOG's 9.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CVX Chevron Corporation | 3.96% | 4.49% | 4.50% | 4.05% | 3.16% | 4.52% | 6.11% | 3.95% | 4.12% | 3.45% | 3.64% | 4.76% |
NOG Northern Oil and Gas, Inc. | 9.72% | 8.38% | 4.41% | 4.02% | 2.86% | 0.75% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
CVX vs. NOG - Financials Comparison
This section allows you to compare key financial metrics between Chevron Corporation and Northern Oil and Gas, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
Frequently Asked Questions
CVX and NOG have a correlation of 0.69, 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 CVX (8.03%). In terms of maximum drawdown, CVX dropped -55.77% vs NOG's -98.96%.
CVX currently has the higher Sharpe Ratio (0.86 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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