NOG vs. DVN
NOG (Northern Oil and Gas, Inc.) and DVN (Devon Energy Corporation) are both stocks. Both operate in the Oil & Gas E&P industry within the Energy sector. Over the past 10 years, NOG returned -6.59%/yr vs 5.67%/yr for DVN. A 0.60 correlation means they provide meaningful diversification when combined.
Performance
NOG vs. DVN - 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 DVN's 19.92% return. Over the past 10 years, NOG has underperformed DVN with an annualized return of -6.59%, while DVN has yielded a comparatively higher 5.67% annualized 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%
DVN
- 1D
- 0.79%
- 1M
- -7.46%
- YTD
- 19.92%
- 6M
- 20.88%
- 1Y
- 35.60%
- 3Y*
- 0.43%
- 5Y*
- 12.96%
- 10Y*
- 5.67%
NOG vs. DVN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NOG Northern Oil and Gas, Inc. | -8.21% | -38.20% | 4.84% | 25.54% | 54.51% | 136.72% | -62.56% | 3.54% | 10.24% | -25.45% |
DVN Devon Energy Corporation | 19.92% | 15.03% | -25.21% | -23.08% | 50.86% | 199.88% | -35.34% | 16.81% | -45.09% | -8.74% |
Correlation
The correlation between NOG and DVN is 0.79, 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 | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.78 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Apr 13, 2007 | 0.60 |
The correlation between NOG and DVN shifts across timeframes, from 0.60 (all time) to 0.79 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
NOG:
-$6.32
DVN:
$4.54
NOG:
1.26
DVN:
1.68
NOG:
$1.52B
DVN:
$12.24B
NOG:
$450.66M
DVN:
$2.67B
NOG:
$73.21M
DVN:
$5.67B
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Return for Risk
NOG vs. DVN — Risk / Return Rank
NOG
DVN
NOG vs. DVN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Northern Oil and Gas, Inc. (NOG) and Devon Energy Corporation (DVN). 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 | DVN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.73 | ||
| Sortino ratioReturn per unit of downside risk | -2.35 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.19 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.82 | 1.93 | -2.75 |
| Martin ratioReturn relative to average drawdown | -1.45 | 4.99 | -6.45 |
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Drawdowns
NOG vs. DVN - Drawdown Comparison
The maximum NOG drawdown since its inception was -98.96%, roughly equal to the maximum DVN drawdown of -94.93%. Use the drawdown chart below to compare losses from any high point for NOG and DVN.
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Drawdown Indicators
| NOG | DVN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.96% | -94.93% | -4.03% |
Max Drawdown (1Y)Largest decline over 1 year | -36.42% | -18.53% | -17.89% |
Max Drawdown (3Y)Largest decline over 3 years | -51.36% | -49.22% | -2.14% |
Max Drawdown (5Y)Largest decline over 5 years | -51.36% | -61.45% | +10.09% |
Max Drawdown (10Y)Largest decline over 10 years | -93.00% | -88.51% | -4.49% |
Current DrawdownCurrent decline from peak | -92.68% | -44.08% | -48.60% |
Average DrawdownAverage peak-to-trough decline | -69.76% | -35.94% | -33.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.64% | 7.15% | +13.49% |
Volatility
NOG vs. DVN - Volatility Comparison
Northern Oil and Gas, Inc. (NOG) and Devon Energy Corporation (DVN) have volatilities of 12.38% and 11.87%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NOG | DVN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.38% | 11.87% | +0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 31.02% | 25.82% | +5.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.97% | 34.25% | +10.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.19% | 40.98% | +8.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.58% | 49.57% | +21.01% |
Dividends
NOG vs. DVN - Dividend Comparison
NOG's dividend yield for the trailing twelve months is around 9.27%, more than DVN's 2.40% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DVN Devon Energy Corporation | 2.40% | 2.62% | 4.43% | 4.55% | 8.41% | 5.24% | 4.30% | 1.35% | 1.33% | 0.58% | 0.92% | 3.00% |
NOG Northern Oil and Gas, Inc. | 9.27% | 8.38% | 4.41% | 4.02% | 2.86% | 0.75% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
NOG vs. DVN - Financials Comparison
This section allows you to compare key financial metrics between Northern Oil and Gas, Inc. and Devon Energy 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 DVN have a correlation of 0.79, 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 DVN (11.87%). In terms of maximum drawdown, NOG dropped -98.96% vs DVN's -94.93%.
DVN currently has the higher Sharpe Ratio (1.05 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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