NOG vs. CRC
NOG (Northern Oil and Gas, Inc.) and CRC (California Resources Corporation) are both stocks. Both operate in the Oil & Gas E&P industry within the Energy sector. Over the past 5 years, NOG returned 5.51%/yr vs 14.04%/yr for CRC. A 0.65 correlation means they provide meaningful diversification when combined.
Performance
NOG vs. CRC - Performance Comparison
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Returns By Period
In the year-to-date period, NOG achieves a -3.48% return, which is significantly lower than CRC's 28.87% return.
NOG
- 1D
- -4.36%
- 1M
- -14.45%
- YTD
- -3.48%
- 6M
- -9.31%
- 1Y
- -29.75%
- 3Y*
- -9.64%
- 5Y*
- 5.51%
- 10Y*
- -5.15%
CRC
- 1D
- -3.41%
- 1M
- -4.09%
- YTD
- 28.87%
- 6M
- 22.22%
- 1Y
- 26.74%
- 3Y*
- 14.50%
- 5Y*
- 14.04%
- 10Y*
- —
NOG vs. CRC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
NOG Northern Oil and Gas, Inc. | -3.48% | -38.20% | 4.84% | 25.54% | 54.51% | 136.72% | 112.11% |
CRC California Resources Corporation | 28.87% | -10.78% | -2.57% | 28.85% | 3.69% | 81.82% | 18.25% |
Correlation
The correlation between NOG and CRC 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 | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Oct 28, 2020 | 0.65 |
The correlation between NOG and CRC has been stable across timeframes, ranging from 0.65 to 0.69 - a consistent structural relationship.
Fundamentals
NOG:
-$6.32
CRC:
$4.17
NOG:
1.32
CRC:
1.42
NOG:
$1.52B
CRC:
$3.48B
NOG:
$450.66M
CRC:
$1.30B
NOG:
$73.21M
CRC:
$1.34B
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Return for Risk
NOG vs. CRC — Risk / Return Rank
NOG
CRC
NOG vs. CRC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Northern Oil and Gas, Inc. (NOG) and California Resources Corporation (CRC). 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 | CRC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.42 | ||
| Sortino ratioReturn per unit of downside risk | -1.92 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.16 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.87 | 1.12 | -1.99 |
| Martin ratioReturn relative to average drawdown | -1.43 | 2.32 | -3.75 |
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Drawdowns
NOG vs. CRC - Drawdown Comparison
The maximum NOG drawdown since its inception was -98.96%, which is greater than CRC's maximum drawdown of -44.75%. Use the drawdown chart below to compare losses from any high point for NOG and CRC.
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Drawdown Indicators
| NOG | CRC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.96% | -44.75% | -54.21% |
Max Drawdown (1Y)Largest decline over 1 year | -34.26% | -24.04% | -10.22% |
Max Drawdown (3Y)Largest decline over 3 years | -51.36% | -44.75% | -6.61% |
Max Drawdown (5Y)Largest decline over 5 years | -51.36% | -44.75% | -6.61% |
Max Drawdown (10Y)Largest decline over 10 years | -93.06% | — | — |
Current DrawdownCurrent decline from peak | -92.31% | -18.38% | -73.93% |
Average DrawdownAverage peak-to-trough decline | -69.73% | -11.93% | -57.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.88% | 11.55% | +9.33% |
Volatility
NOG vs. CRC - Volatility Comparison
Northern Oil and Gas, Inc. (NOG) has a higher volatility of 13.29% compared to California Resources Corporation (CRC) at 9.92%. This indicates that NOG's price experiences larger fluctuations and is considered to be riskier than CRC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NOG | CRC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.29% | 9.92% | +3.37% |
Volatility (6M)Calculated over the trailing 6-month period | 31.99% | 27.69% | +4.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.90% | 35.48% | +9.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.16% | 40.42% | +8.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.62% | 44.70% | +25.92% |
Dividends
NOG vs. CRC - Dividend Comparison
NOG's dividend yield for the trailing twelve months is around 8.81%, more than CRC's 2.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
CRC California Resources Corporation | 2.82% | 3.51% | 2.69% | 2.12% | 1.82% | 0.40% |
NOG Northern Oil and Gas, Inc. | 8.81% | 8.38% | 4.41% | 4.02% | 2.86% | 0.75% |
Financials
NOG vs. CRC - Financials Comparison
This section allows you to compare key financial metrics between Northern Oil and Gas, Inc. and California Resources Corporation. 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
NOG and CRC 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 (13.29%) compared to CRC (9.92%). In terms of maximum drawdown, NOG dropped -98.96% vs CRC's -44.75%.
CRC currently has the higher Sharpe Ratio (0.76 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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