DVN vs. NOG
DVN (Devon Energy Corporation) and NOG (Northern Oil and Gas, Inc.) are both stocks. Both operate in the Oil & Gas E&P industry within the Energy sector. Over the past 10 years, DVN returned 5.59%/yr vs -6.64%/yr for NOG. A 0.60 correlation means they provide meaningful diversification when combined.
Performance
DVN vs. NOG - Performance Comparison
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Returns By Period
In the year-to-date period, DVN achieves a 18.98% return, which is significantly higher than NOG's -8.73% return. Over the past 10 years, DVN has outperformed NOG with an annualized return of 5.59%, while NOG has yielded a comparatively lower -6.64% annualized return.
DVN
- 1D
- 2.21%
- 1M
- -8.18%
- YTD
- 18.98%
- 6M
- 19.63%
- 1Y
- 28.81%
- 3Y*
- 0.16%
- 5Y*
- 13.27%
- 10Y*
- 5.59%
NOG
- 1D
- -0.67%
- 1M
- -18.69%
- YTD
- -8.73%
- 6M
- -9.02%
- 1Y
- -33.93%
- 3Y*
- -10.99%
- 5Y*
- 3.80%
- 10Y*
- -6.64%
DVN vs. NOG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DVN Devon Energy Corporation | 18.98% | 15.03% | -25.21% | -23.08% | 50.86% | 199.88% | -35.34% | 16.81% | -45.09% | -8.74% |
NOG Northern Oil and Gas, Inc. | -8.73% | -38.20% | 4.84% | 25.54% | 54.51% | 136.72% | -62.56% | 3.54% | 10.24% | -25.45% |
Correlation
The correlation between DVN and NOG is 0.79, 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 | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Apr 13, 2007 | 0.60 |
The correlation between DVN and NOG shifts across timeframes, from 0.60 (all time) to 0.79 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
DVN:
$4.54
NOG:
-$6.32
DVN:
1.67
NOG:
1.25
DVN:
$12.24B
NOG:
$1.52B
DVN:
$2.67B
NOG:
$450.66M
DVN:
$5.67B
NOG:
$73.21M
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Return for Risk
DVN vs. NOG — Risk / Return Rank
DVN
NOG
DVN vs. NOG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Devon Energy Corporation (DVN) 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.
| DVN | NOG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.60 | ||
| Sortino ratioReturn per unit of downside risk | +2.26 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 0.90 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 1.56 | -0.93 | +2.50 |
| Martin ratioReturn relative to average drawdown | 4.08 | -1.66 | +5.73 |
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Drawdowns
DVN vs. NOG - Drawdown Comparison
The maximum DVN drawdown since its inception was -94.93%, roughly equal to the maximum NOG drawdown of -98.96%. Use the drawdown chart below to compare losses from any high point for DVN and NOG.
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Drawdown Indicators
| DVN | NOG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -94.93% | -98.96% | +4.03% |
Max Drawdown (1Y)Largest decline over 1 year | -18.53% | -36.42% | +17.89% |
Max Drawdown (3Y)Largest decline over 3 years | -49.22% | -51.36% | +2.14% |
Max Drawdown (5Y)Largest decline over 5 years | -61.45% | -51.36% | -10.09% |
Max Drawdown (10Y)Largest decline over 10 years | -88.51% | -93.00% | +4.49% |
Current DrawdownCurrent decline from peak | -44.52% | -92.72% | +48.20% |
Average DrawdownAverage peak-to-trough decline | -35.94% | -69.76% | +33.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.15% | 20.54% | -13.39% |
Volatility
DVN vs. NOG - Volatility Comparison
Devon Energy Corporation (DVN) and Northern Oil and Gas, Inc. (NOG) have volatilities of 12.05% and 12.31%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DVN | NOG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.05% | 12.31% | -0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 26.05% | 31.23% | -5.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.32% | 45.06% | -10.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 40.99% | 49.19% | -8.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.63% | 70.59% | -20.96% |
Dividends
DVN vs. NOG - Dividend Comparison
DVN's dividend yield for the trailing twelve months is around 2.42%, less than NOG's 9.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DVN Devon Energy Corporation | 2.42% | 2.62% | 4.43% | 4.55% | 8.41% | 5.24% | 4.30% | 1.35% | 1.33% | 0.58% | 0.92% | 3.00% |
NOG Northern Oil and Gas, Inc. | 9.32% | 8.38% | 4.41% | 4.02% | 2.86% | 0.75% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
DVN vs. NOG - Financials Comparison
This section allows you to compare key financial metrics between Devon Energy 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
DVN and NOG have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NOG has higher volatility (12.31%) compared to DVN (12.05%). In terms of maximum drawdown, DVN dropped -94.93% vs NOG's -98.96%.
DVN currently has the higher Sharpe Ratio (0.84 vs -0.76), 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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