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 -29.94% vs 27.40% 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 -8.21% return, which is significantly lower than CERY's 18.11% return.
NOG
- 1D
- 0.57%
- 1M
- -18.23%
- YTD
- -8.21%
- 6M
- -7.06%
- 1Y
- -29.94%
- 3Y*
- -10.82%
- 5Y*
- 3.76%
- 10Y*
- -6.59%
CERY
- 1D
- -1.20%
- 1M
- -9.49%
- YTD
- 18.11%
- 6M
- 16.37%
- 1Y
- 27.40%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NOG vs. CERY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
NOG Northern Oil and Gas, Inc. | -8.21% | -38.20% | 3.69% |
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | 18.11% | 15.68% | 3.80% |
Correlation
The correlation between NOG and CERY 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 NOG and CERY has been stable across timeframes, ranging from 0.49 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 | -2.45 | ||
| Sortino ratioReturn per unit of downside risk | -3.15 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.31 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.82 | 2.21 | -3.04 |
| Martin ratioReturn relative to average drawdown | -1.45 | 10.02 | -11.47 |
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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 -12.44%. 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% | -12.44% | -86.52% |
Max Drawdown (1Y)Largest decline over 1 year | -36.42% | -12.44% | -23.98% |
Max Drawdown (3Y)Largest decline over 3 years | -51.36% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -51.36% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -93.00% | — | — |
Current DrawdownCurrent decline from peak | -92.68% | -12.44% | -80.24% |
Average DrawdownAverage peak-to-trough decline | -69.76% | -2.29% | -67.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.64% | 2.76% | +17.88% |
Volatility
NOG vs. CERY - Volatility Comparison
Northern Oil and Gas, Inc. (NOG) has a higher volatility of 12.38% compared to SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF (CERY) at 3.64%. 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 | 12.38% | 3.64% | +8.74% |
Volatility (6M)Calculated over the trailing 6-month period | 31.02% | 13.63% | +17.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.97% | 15.66% | +29.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.19% | 14.74% | +34.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.58% | 14.74% | +55.84% |
Dividends
NOG vs. CERY - Dividend Comparison
NOG's dividend yield for the trailing twelve months is around 9.27%, more than CERY's 4.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
CERY SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF | 4.23% | 4.99% | 0.52% | 0.00% | 0.00% | 0.00% |
NOG Northern Oil and Gas, Inc. | 9.27% | 8.38% | 4.41% | 4.02% | 2.86% | 0.75% |
Frequently Asked Questions
NOG and CERY 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 (12.38%) compared to CERY (3.64%). In terms of maximum drawdown, NOG dropped -98.96% vs CERY's -12.44%.
CERY currently has the higher Sharpe Ratio (1.78 vs -0.67), 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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