NOG vs. HGER
NOG (Northern Oil and Gas, Inc.) is a stock, while HGER (Harbor Commodity All-Weather Strategy ETF) is Commodities fund tracking the Quantix Commodity Index - Benchmark TR Net. Over the past 3 years, NOG returned -14.51%/yr vs 18.60%/yr for HGER. At a 0.47 correlation, their price movements are largely independent.
Performance
NOG vs. HGER - 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 HGER's 23.17% 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%
HGER
- 1D
- -0.84%
- 1M
- 0.86%
- 6M
- 20.50%
- YTD
- 23.17%
- 1Y
- 31.96%
- 3Y*
- 18.60%
- 5Y*
- —
- 10Y*
- —
NOG vs. HGER - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
NOG Northern Oil and Gas, Inc. | -10.36% | -38.20% | 4.84% | 25.54% | 38.92% |
HGER Harbor Commodity All-Weather Strategy ETF | 23.17% | 20.08% | 9.25% | 1.93% | 9.66% |
Correlation
The correlation between NOG and HGER is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2022 | 0.47 |
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Return for Risk
NOG vs. HGER — Risk / Return Rank
NOG
HGER
NOG vs. HGER - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Northern Oil and Gas, Inc. (NOG) and Harbor Commodity All-Weather Strategy ETF (HGER). 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 | HGER | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.70 | ||
| Sortino ratioReturn per unit of downside risk | -3.57 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.35 | -0.46 |
| Calmar ratioReturn relative to maximum drawdown | -0.85 | 2.39 | -3.24 |
| Martin ratioReturn relative to average drawdown | -1.62 | 8.73 | -10.35 |
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Drawdowns
NOG vs. HGER - Drawdown Comparison
The maximum NOG drawdown since its inception was -98.96%, which is greater than HGER's maximum drawdown of -23.31%. Use the drawdown chart below to compare losses from any high point for NOG and HGER.
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Drawdown Indicators
| NOG | HGER | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.96% | -23.31% | -75.65% |
Max Drawdown (1Y)Largest decline over 1 year | -41.43% | -14.04% | -27.39% |
Max Drawdown (3Y)Largest decline over 3 years | -55.08% | -14.04% | -41.04% |
Max Drawdown (5Y)Largest decline over 5 years | -55.08% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -92.98% | — | — |
Current DrawdownCurrent decline from peak | -92.85% | -8.66% | -84.19% |
Average DrawdownAverage peak-to-trough decline | -69.82% | -7.71% | -62.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 21.78% | 3.83% | +17.95% |
Volatility
NOG vs. HGER - Volatility Comparison
Northern Oil and Gas, Inc. (NOG) has a higher volatility of 14.14% compared to Harbor Commodity All-Weather Strategy ETF (HGER) at 5.75%. This indicates that NOG's price experiences larger fluctuations and is considered to be riskier than HGER based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NOG | HGER | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.14% | 5.75% | +8.39% |
Volatility (6M)Calculated over the trailing 6-month period | 32.39% | 15.35% | +17.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.38% | 17.37% | +28.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.25% | 17.67% | +31.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.57% | 17.67% | +52.90% |
Dividends
NOG vs. HGER - Dividend Comparison
NOG's dividend yield for the trailing twelve months is around 9.72%, more than HGER's 5.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
HGER Harbor Commodity All-Weather Strategy ETF | 5.75% | 7.09% | 3.28% | 7.24% | 0.64% | 0.00% |
NOG Northern Oil and Gas, Inc. | 9.72% | 8.38% | 4.41% | 4.02% | 2.86% | 0.75% |
Frequently Asked Questions
NOG and HGER have a correlation of 0.39, 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 HGER (5.75%). In terms of maximum drawdown, NOG dropped -98.96% vs HGER's -23.31%.
HGER currently has the higher Sharpe Ratio (1.93 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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