NOG vs. DBA
NOG (Northern Oil and Gas, Inc.) is a stock, while DBA (Invesco DB Agriculture Fund) is Agricultural Commodities fund tracking the DBIQ Diversified Agriculture Index Excess Return. Over the past 10 years, NOG returned -2.51%/yr vs 4.57%/yr for DBA. Their 0.22 correlation means their historical movements had little consistent relationship.
Performance
NOG vs. DBA - Performance Comparison
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Returns By Period
In the year-to-date period, NOG achieves a 2.37% return, which is significantly lower than DBA's 7.80% return. Over the past 10 years, NOG has underperformed DBA with an annualized return of -2.51%, while DBA has yielded a comparatively higher 4.57% annualized return.
NOG
- 1D
- 1.49%
- 1M
- 20.44%
- 6M
- -12.08%
- YTD
- 2.37%
- 1Y
- -18.99%
- 3Y*
- -13.95%
- 5Y*
- 9.05%
- 10Y*
- -2.51%
- ALL TIME*
- -2.08%
DBA
- 1D
- 0.11%
- 1M
- 2.42%
- 6M
- 7.21%
- YTD
- 7.80%
- 1Y
- 10.05%
- 3Y*
- 12.21%
- 5Y*
- 10.82%
- 10Y*
- 4.57%
- ALL TIME*
- 1.46%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $21.27M | $23.75M | $33.82M | |
| $54.84M | $61.54M | $65.18M |
NOG vs. DBA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NOG Northern Oil and Gas, Inc. | 2.37% | -38.20% | 4.84% | 25.54% | 54.51% | 136.72% | -62.56% | 3.54% | 10.24% | -25.45% |
DBA Invesco DB Agriculture Fund | 7.80% | -0.56% | 33.45% | 7.64% | 2.53% | 22.37% | -2.54% | -0.71% | -8.74% | -6.06% |
Correlation
The correlation between NOG and DBA is 0.18, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.18 |
Correlation (3Y) Balances recent behavior with more history. | 0.09 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.20 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.19 |
Correlation (All Time) Calculated using the full available price history since Apr 13, 2007 | 0.22 |
The correlation between NOG and DBA shifts across timeframes, from 0.09 (3 years) to 0.22 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NOG vs. DBA — Risk / Return Rank
NOG
DBA
NOG vs. DBA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Northern Oil and Gas, Inc. (NOG) and Invesco DB Agriculture Fund (DBA). 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 | DBA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.32 | ||
| Sortino ratioReturn per unit of downside risk | -1.67 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.17 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | -0.46 | 1.16 | -1.62 |
| Martin ratioReturn relative to average drawdown | -1.03 | 2.40 | -3.43 |
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Drawdowns
NOG vs. DBA - Drawdown Comparison
The maximum NOG drawdown since its inception was -98.96%, which is greater than DBA's maximum drawdown of -67.97%. Use the drawdown chart below to compare losses from any high point for NOG and DBA.
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Drawdown Indicators
| NOG | DBA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.96% | -67.97% | -30.99% |
Max Drawdown (1Y)Largest decline over 1 year | -41.43% | -8.67% | -32.76% |
Max Drawdown (3Y)Largest decline over 3 years | -55.08% | -12.36% | -42.72% |
Max Drawdown (5Y)Largest decline over 5 years | -55.08% | -15.94% | -39.14% |
Max Drawdown (10Y)Largest decline over 10 years | -92.15% | -35.64% | -56.51% |
Current DrawdownCurrent decline from peak | -91.84% | -24.11% | -67.73% |
Average DrawdownAverage peak-to-trough decline | -69.89% | -40.97% | -28.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.41% | 4.19% | +15.22% |
Volatility
NOG vs. DBA - Volatility Comparison
Northern Oil and Gas, Inc. (NOG) has a higher volatility of 16.52% compared to Invesco DB Agriculture Fund (DBA) at 4.72%. This indicates that NOG's price experiences larger fluctuations and is considered to be riskier than DBA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NOG | DBA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.52% | 4.72% | +11.80% |
Volatility (6M)Calculated over the trailing 6-month period | 33.58% | 8.10% | +25.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.31% | 11.12% | +35.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.16% | 13.78% | +35.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.52% | 13.05% | +57.47% |
Dividends
NOG vs. DBA - Dividend Comparison
NOG's dividend yield for the trailing twelve months is around 8.51%, more than DBA's 3.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBA Invesco DB Agriculture Fund | 3.32% | 3.58% | 4.08% | 4.63% | 0.48% | 0.00% | 0.00% | 1.55% | 1.06% |
NOG Northern Oil and Gas, Inc. | 8.51% | 8.38% | 4.41% | 4.02% | 2.86% | 0.75% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
NOG and DBA have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NOG has higher volatility (16.52%) compared to DBA (4.72%). In terms of maximum drawdown, NOG dropped -98.96% vs DBA's -67.97%.
DBA currently has the higher Sharpe Ratio (0.91 vs -0.41), 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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