AMPY vs NOG: Correlation
Measured on weekly returns over the past three years, Amplify Energy Corp. (AMPY) and Northern Oil and Gas, Inc. (NOG) carry a correlation of 0.64, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMPY and NOG?
Across a 3-year window, the weekly returns of AMPY and NOG correlate at 0.64, strong. The relationship has been stable: the 1-year correlation (0.59) sits close to the 3-year figure. Stretching to 5 years gives 0.62, with an annualized covariance of 1550.1 %².
NOG is one of the assets that tracks AMPY most closely: it ranks #3 out of the 12 assets we track against AMPY. The trailing year gives AMPY the advantage: +15.7% versus +9.2%, a 6.5-point spread.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AMPY vs NOG: side by side
| AMPY (Amplify Energy Corp.) | NOG (Northern Oil and Gas, Inc.) | |
|---|---|---|
| 1-year return | +15.7% | +9.2% |
| 5-year return | +30.1% | +105.5% |
| Volatility (ann.) | 56.4% | 42.6% |
| Beta vs S&P 500 | 0.28 | 0.55 |
| Max drawdown (3Y) | -71.1% | -55.1% |
| Market cap | $0.2B | $2.8B |
| P/E (trailing) | 9.1 | – |
| Dividend yield | 0.00% | 6.92% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMPY | NOG |
|---|---|---|
| 2022 | +182.6% | +54.5% |
| 2023 | -32.5% | +25.5% |
| 2024 | +1.2% | +4.8% |
| 2025 | -23.8% | -38.2% |
| 2026 | +3.1% | +26.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMPY and NOG good diversifiers for each other?
Only partially. A correlation of 0.64 means AMPY and NOG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between AMPY and NOG?
The AMPY/NOG correlation stands at 0.64 on a 3-year window (1 year: 0.59, 5 years: 0.62), computed from weekly returns as of 2026-08-27.
Is NOG a good diversifier for AMPY?
Only partially. A correlation of 0.64 means AMPY and NOG share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.64 mean?
A reading of 0.64 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ampy-vs-nog.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ampy-vs-nog/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AMPY correlations · NOG correlations
