CRC vs NOG: Correlation
How closely do California Resources Corporation (CRC) and Northern Oil and Gas, Inc. (NOG) trade together? Their weekly returns over three years give a correlation of 0.67, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRC and NOG?
Across a 3-year window, the weekly returns of CRC and NOG correlate at 0.67, strong. Little has changed lately, as the 1-year reading of 0.66 lands near the 3-year figure. Stretching to 5 years gives 0.67, with an annualized covariance of 991.8 %².
Within CRC's tracked universe of 13 assets, NOG comes in at #4 by 3-year correlation. Neither side won the trailing year by much: +8.5% against +9.2%.
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.
CRC vs NOG: side by side
| CRC (California Resources Corporation) | NOG (Northern Oil and Gas, Inc.) | |
|---|---|---|
| 1-year return | +8.5% | +9.2% |
| 5-year return | +78.6% | +105.5% |
| Volatility (ann.) | 34.5% | 42.6% |
| Beta vs S&P 500 | 0.59 | 0.55 |
| Max drawdown (3Y) | -44.8% | -55.1% |
| Market cap | $4.7B | $2.8B |
| P/E (trailing) | – | – |
| Dividend yield | 3.05% | 6.92% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRC | NOG |
|---|---|---|
| 2022 | +3.7% | +54.5% |
| 2023 | +28.9% | +25.5% |
| 2024 | -2.6% | +4.8% |
| 2025 | -10.8% | -38.2% |
| 2026 | +20.0% | +26.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRC and NOG good diversifiers for each other?
To a limited degree. At 0.67 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CRC and NOG?
The CRC/NOG correlation stands at 0.67 on a 3-year window (1 year: 0.66, 5 years: 0.67), computed from weekly returns as of 2026-08-27.
Is NOG a good diversifier for CRC?
To a limited degree. At 0.67 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.67 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/crc-vs-nog.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/crc-vs-nog/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CRC correlations · NOG correlations
