NOG vs. CERY
NOG (Northern Oil and Gas, Inc.) is a stock, while CERY (SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF) is Commodities fund tracking the Bloomberg Enhanced Roll Yield Total Return Index. Over the past year, NOG returned -15.98% vs 34.46% for CERY. A 0.51 correlation means they provide meaningful diversification when combined.
Performance
NOG vs. CERY - Performance Comparison
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Returns By Period
In the year-to-date period, NOG achieves a 2.71% return, which is significantly lower than CERY's 25.78% return.
NOG
- 1D
- 0.14%
- 1M
- 11.78%
- 6M
- -0.84%
- YTD
- 2.71%
- 1Y
- -15.98%
- 3Y*
- -11.67%
- 5Y*
- 9.77%
- 10Y*
- -4.41%
- ALL TIME*
- -2.06%
CERY
- 1D
- -0.25%
- 1M
- 4.51%
- 6M
- 19.61%
- YTD
- 25.78%
- 1Y
- 34.46%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 24.67%
NOG vs. CERY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
NOG Northern Oil and Gas, Inc. | 2.71% | -38.20% | 3.69% |
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | 25.78% | 15.68% | 3.80% |
Correlation
The correlation between NOG and CERY is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Sep 5, 2024 | 0.51 |
The correlation between NOG and CERY has been stable across timeframes, ranging from 0.50 to 0.51 - a consistent structural relationship.
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Return for Risk
NOG vs. CERY — Risk / Return Rank
NOG
CERY
NOG vs. CERY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Northern Oil and Gas, Inc. (NOG) and SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY). 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.
| NOG | CERY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.52 | ||
| Sortino ratioReturn per unit of downside risk | -3.07 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.37 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.39 | 2.42 | -2.80 |
| Martin ratioReturn relative to average drawdown | -0.77 | 8.55 | -9.32 |
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Drawdowns
NOG vs. CERY - Drawdown Comparison
The maximum NOG drawdown since its inception was -98.96%, which is greater than CERY's maximum drawdown of -14.33%. Use the drawdown chart below to compare losses from any high point for NOG and CERY.
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Drawdown Indicators
| NOG | CERY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.96% | -14.33% | -84.63% |
Max Drawdown (1Y)Largest decline over 1 year | -41.43% | -14.33% | -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 | -91.81% | -6.75% | -85.06% |
Average DrawdownAverage peak-to-trough decline | -69.85% | -2.62% | -67.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.69% | 4.04% | +16.65% |
Volatility
NOG vs. CERY - Volatility Comparison
Northern Oil and Gas, Inc. (NOG) has a higher volatility of 15.95% compared to SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY) at 5.13%. This indicates that NOG's price experiences larger fluctuations and is considered to be riskier than CERY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NOG | CERY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.95% | 5.13% | +10.82% |
Volatility (6M)Calculated over the trailing 6-month period | 33.18% | 13.75% | +19.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.12% | 15.98% | +30.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.16% | 14.87% | +34.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.60% | 14.87% | +55.73% |
Dividends
NOG vs. CERY - Dividend Comparison
NOG's dividend yield for the trailing twelve months is around 8.48%, more than CERY's 3.97% 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. | 8.48% | 8.38% | 4.41% | 4.02% | 2.86% | 0.75% |
Frequently Asked Questions
NOG and CERY have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NOG has higher volatility (15.95%) compared to CERY (5.13%). In terms of maximum drawdown, NOG dropped -98.96% vs CERY's -14.33%.
CERY currently has the higher Sharpe Ratio (2.17 vs -0.35), 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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