HGER vs. NOG
HGER (Harbor Commodity All-Weather Strategy ETF) is Commodities fund tracking the Quantix Commodity Index - Benchmark TR Net, while NOG (Northern Oil and Gas, Inc.) is a stock. Over the past 3 years, HGER returned 18.60%/yr vs -14.51%/yr for NOG. At a 0.47 correlation, their price movements are largely independent.
Performance
HGER vs. NOG - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HGER achieves a 23.17% return, which is significantly higher than NOG's -10.36% return.
HGER
- 1D
- -0.84%
- 1M
- 0.86%
- 6M
- 20.50%
- YTD
- 23.17%
- 1Y
- 31.96%
- 3Y*
- 18.60%
- 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%
HGER vs. NOG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HGER Harbor Commodity All-Weather Strategy ETF | 23.17% | 20.08% | 9.25% | 1.93% | 9.66% |
NOG Northern Oil and Gas, Inc. | -10.36% | -38.20% | 4.84% | 25.54% | 38.92% |
Correlation
The correlation between HGER and NOG is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2022 | 0.47 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HGER vs. NOG — Risk / Return Rank
HGER
NOG
HGER vs. NOG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harbor Commodity All-Weather Strategy ETF (HGER) 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.
| HGER | NOG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.70 | ||
| Sortino ratioReturn per unit of downside risk | +3.57 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 0.89 | +0.46 |
| Calmar ratioReturn relative to maximum drawdown | 2.39 | -0.85 | +3.24 |
| Martin ratioReturn relative to average drawdown | 8.73 | -1.62 | +10.35 |
Loading charts...
Drawdowns
HGER vs. NOG - Drawdown Comparison
The maximum HGER drawdown since its inception was -23.31%, smaller than the maximum NOG drawdown of -98.96%. Use the drawdown chart below to compare losses from any high point for HGER and NOG.
Loading charts...
Drawdown Indicators
| HGER | NOG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.31% | -98.96% | +75.65% |
Max Drawdown (1Y)Largest decline over 1 year | -14.04% | -41.43% | +27.39% |
Max Drawdown (3Y)Largest decline over 3 years | -14.04% | -55.08% | +41.04% |
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 | -8.66% | -92.85% | +84.19% |
Average DrawdownAverage peak-to-trough decline | -7.71% | -69.82% | +62.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.83% | 21.78% | -17.95% |
Volatility
HGER vs. NOG - Volatility Comparison
The current volatility for Harbor Commodity All-Weather Strategy ETF (HGER) is 5.75%, while Northern Oil and Gas, Inc. (NOG) has a volatility of 14.14%. This indicates that HGER 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.
Loading charts...
Volatility by Period
| HGER | NOG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.75% | 14.14% | -8.39% |
Volatility (6M)Calculated over the trailing 6-month period | 15.35% | 32.39% | -17.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.37% | 45.38% | -28.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.67% | 49.25% | -31.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.67% | 70.57% | -52.90% |
Dividends
HGER vs. NOG - Dividend Comparison
HGER's dividend yield for the trailing twelve months is around 5.75%, less than NOG's 9.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
HGER Harbor Commodity All-Weather Strategy ETF | 5.75% | 7.09% | 3.28% | 7.24% | 0.64% | 0.00% |
NOG Northern Oil and Gas, Inc. | 9.72% | 8.38% | 4.41% | 4.02% | 2.86% | 0.75% |
Frequently Asked Questions
HGER and NOG have a correlation of 0.39, 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 HGER (5.75%). In terms of maximum drawdown, HGER dropped -23.31% vs NOG's -98.96%.
HGER currently has the higher Sharpe Ratio (1.93 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.
Find the right allocation for HGER and NOG
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer