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 -7.03%/yr vs 4.14%/yr for DBA. At a 0.22 correlation, their price movements are largely independent.
Performance
NOG vs. DBA - Performance Comparison
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Returns By Period
In the year-to-date period, NOG achieves a -10.36% return, which is significantly lower than DBA's 8.82% return. Over the past 10 years, NOG has underperformed DBA with an annualized return of -7.03%, while DBA has yielded a comparatively higher 4.14% annualized return.
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%
DBA
- 1D
- 0.22%
- 1M
- 5.59%
- 6M
- 7.72%
- YTD
- 8.82%
- 1Y
- 11.65%
- 3Y*
- 13.55%
- 5Y*
- 12.19%
- 10Y*
- 4.14%
NOG vs. DBA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NOG Northern Oil and Gas, Inc. | -10.36% | -38.20% | 4.84% | 25.54% | 54.51% | 136.72% | -62.56% | 3.54% | 10.24% | -25.45% |
DBA Invesco DB Agriculture Fund | 8.82% | -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 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | 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 | -1.86 | ||
| Sortino ratioReturn per unit of downside risk | -2.61 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.19 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.85 | 1.35 | -2.20 |
| Martin ratioReturn relative to average drawdown | -1.62 | 2.83 | -4.45 |
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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 | -92.98% | -37.97% | -55.01% |
Current DrawdownCurrent decline from peak | -92.85% | -23.39% | -69.46% |
Average DrawdownAverage peak-to-trough decline | -69.82% | -41.02% | -28.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.78% | 4.12% | +17.66% |
Volatility
NOG vs. DBA - Volatility Comparison
Northern Oil and Gas, Inc. (NOG) has a higher volatility of 14.14% compared to Invesco DB Agriculture Fund (DBA) at 3.88%. 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 | 14.14% | 3.88% | +10.26% |
Volatility (6M)Calculated over the trailing 6-month period | 32.39% | 7.43% | +24.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.38% | 10.83% | +34.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.25% | 13.86% | +35.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.57% | 13.06% | +57.51% |
Dividends
NOG vs. DBA - Dividend Comparison
NOG's dividend yield for the trailing twelve months is around 9.72%, more than DBA's 3.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBA Invesco DB Agriculture Fund | 3.29% | 3.58% | 4.08% | 4.63% | 0.48% | 0.00% | 0.00% | 1.55% | 1.06% |
NOG Northern Oil and Gas, Inc. | 9.72% | 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 0.19, 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 DBA (3.88%). In terms of maximum drawdown, NOG dropped -98.96% vs DBA's -67.97%.
DBA currently has the higher Sharpe Ratio (1.08 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.
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