NOG vs. XLE
NOG (Northern Oil and Gas, Inc.) is a stock, while XLE (State Street Energy Select Sector SPDR ETF) is Energy Equities fund tracking the Energy Select Sector Index. Over the past 10 years, NOG returned -2.51%/yr vs 10.52%/yr for XLE. Their 0.62 correlation means they have sometimes moved together and sometimes differently.
Performance
NOG vs. XLE - 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 XLE's 35.03% return. Over the past 10 years, NOG has underperformed XLE with an annualized return of -2.51%, while XLE has yielded a comparatively higher 10.52% annualized return.
NOG
- 1D
- 1.49%
- 1M
- 17.83%
- 6M
- -12.08%
- YTD
- 2.37%
- 1Y
- -8.86%
- 3Y*
- -13.95%
- 5Y*
- 9.05%
- 10Y*
- -2.51%
- ALL TIME*
- -2.08%
XLE
- 1D
- 1.00%
- 1M
- 11.89%
- 6M
- 18.26%
- YTD
- 35.03%
- 1Y
- 43.49%
- 3Y*
- 14.62%
- 5Y*
- 23.67%
- 10Y*
- 10.52%
- ALL TIME*
- 8.87%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $54.84M | $61.54M | $65.18M | |
| $1.70B | $1.73B | $1.97B |
NOG vs. XLE - 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% |
XLE State Street Energy Select Sector SPDR ETF | 35.03% | 7.88% | 5.56% | -0.63% | 64.32% | 53.28% | -32.67% | 11.74% | -18.22% | -0.89% |
Correlation
The correlation between NOG and XLE is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.76 |
Correlation (3Y) Balances recent behavior with more history. | 0.77 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.77 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.64 |
Correlation (All Time) Calculated using the full available price history since Apr 13, 2007 | 0.62 |
The correlation between NOG and XLE shifts across timeframes, from 0.62 (all time) to 0.77 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
NOG vs. XLE — Risk / Return Rank
NOG
XLE
NOG vs. XLE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Northern Oil and Gas, Inc. (NOG) and State Street Energy Select Sector SPDR ETF (XLE). 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 | XLE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.36 | ||
| Sortino ratioReturn per unit of downside risk | -2.84 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.32 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.46 | 2.74 | -3.20 |
| Martin ratioReturn relative to average drawdown | -1.03 | 7.32 | -8.34 |
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Drawdowns
NOG vs. XLE - Drawdown Comparison
The maximum NOG drawdown since its inception was -98.96%, which is greater than XLE's maximum drawdown of -71.26%. Use the drawdown chart below to compare losses from any high point for NOG and XLE.
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Drawdown Indicators
| NOG | XLE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.96% | -71.26% | -27.70% |
Max Drawdown (1Y)Largest decline over 1 year | -41.43% | -14.98% | -26.45% |
Max Drawdown (3Y)Largest decline over 3 years | -55.08% | -20.14% | -34.94% |
Max Drawdown (5Y)Largest decline over 5 years | -55.08% | -26.04% | -29.04% |
Max Drawdown (10Y)Largest decline over 10 years | -92.15% | -66.81% | -25.34% |
Current DrawdownCurrent decline from peak | -91.84% | -4.13% | -87.71% |
Average DrawdownAverage peak-to-trough decline | -69.89% | -17.93% | -51.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 19.41% | 5.62% | +13.79% |
Volatility
NOG vs. XLE - Volatility Comparison
Northern Oil and Gas, Inc. (NOG) has a higher volatility of 16.52% compared to State Street Energy Select Sector SPDR ETF (XLE) at 5.85%. This indicates that NOG's price experiences larger fluctuations and is considered to be riskier than XLE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NOG | XLE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.52% | 5.85% | +10.67% |
Volatility (6M)Calculated over the trailing 6-month period | 33.58% | 16.71% | +16.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.31% | 21.05% | +25.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.16% | 25.77% | +23.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.52% | 29.57% | +40.95% |
Dividends
NOG vs. XLE - Dividend Comparison
NOG's dividend yield for the trailing twelve months is around 8.51%, more than XLE's 2.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NOG Northern Oil and Gas, Inc. | 8.51% | 8.38% | 4.41% | 4.02% | 2.86% | 0.75% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XLE State Street Energy Select Sector SPDR ETF | 2.55% | 3.28% | 3.36% | 3.55% | 3.68% | 4.21% | 5.62% | 6.72% | 3.54% | 3.03% | 2.26% | 3.39% |
Frequently Asked Questions
NOG and XLE have a correlation of 0.76, 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 XLE (5.85%). In terms of maximum drawdown, NOG dropped -98.96% vs XLE's -71.26%.
XLE currently has the higher Sharpe Ratio (1.95 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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