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 -13.95%/yr vs 18.61%/yr for HGER. Their 0.48 correlation means their historical movements had little consistent relationship.
Performance
NOG vs. HGER - 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 HGER's 29.53% 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%
HGER
- 1D
- 0.00%
- 1M
- 8.95%
- 6M
- 20.19%
- YTD
- 29.53%
- 1Y
- 40.17%
- 3Y*
- 18.61%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 15.44%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $46.51M | $66.72M | $45.77M | |
| $54.84M | $61.54M | $65.18M |
NOG vs. HGER - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
NOG Northern Oil and Gas, Inc. | 2.37% | -38.20% | 4.84% | 25.54% | 38.92% |
HGER Harbor Commodity All-Weather Strategy ETF | 29.53% | 20.08% | 9.25% | 1.93% | 9.66% |
Correlation
The correlation between NOG and HGER is 0.43, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.43 |
Correlation (3Y) Balances recent behavior with more history. | 0.43 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2022 | 0.48 |
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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 | -2.69 | ||
| Sortino ratioReturn per unit of downside risk | -3.33 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.41 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.46 | 2.87 | -3.33 |
| Martin ratioReturn relative to average drawdown | -1.03 | 10.23 | -11.26 |
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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 | -92.15% | — | — |
Current DrawdownCurrent decline from peak | -91.84% | -3.94% | -87.90% |
Average DrawdownAverage peak-to-trough decline | -69.89% | -7.66% | -62.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.41% | 3.94% | +15.47% |
Volatility
NOG vs. HGER - Volatility Comparison
Northern Oil and Gas, Inc. (NOG) has a higher volatility of 16.52% compared to Harbor Commodity All-Weather Strategy ETF (HGER) at 5.64%. 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 | 16.52% | 5.64% | +10.88% |
Volatility (6M)Calculated over the trailing 6-month period | 33.58% | 15.43% | +18.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.31% | 17.71% | +28.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.16% | 17.67% | +31.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.52% | 17.67% | +52.85% |
Dividends
NOG vs. HGER - Dividend Comparison
NOG's dividend yield for the trailing twelve months is around 8.51%, more than HGER's 5.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
HGER Harbor Commodity All-Weather Strategy ETF | 5.47% | 7.09% | 3.28% | 7.24% | 0.64% | 0.00% |
NOG Northern Oil and Gas, Inc. | 8.51% | 8.38% | 4.41% | 4.02% | 2.86% | 0.75% |
Frequently Asked Questions
NOG and HGER have a correlation of 0.43, 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 HGER (5.64%). In terms of maximum drawdown, NOG dropped -98.96% vs HGER's -23.31%.
HGER currently has the higher Sharpe Ratio (2.28 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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