CRGY vs NOG: Correlation
How closely do Crescent Energy Company (CRGY) and Northern Oil and Gas, Inc. (NOG) trade together? Their weekly returns over three years give a correlation of 0.80, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRGY and NOG?
On 3 years of weekly data the CRGY/NOG correlation comes out at 0.80, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.82 over 1 year against 0.80 over 3. The 5-year figure is 0.77, and annualized covariance runs at 1661.3 %².
Few assets follow CRGY as closely as NOG, which ranks #1 of 15 tracked partners. Their recent paths diverged sharply: over the last 12 months CRGY outperformed by 43.9 percentage points (+53.1% for CRGY against +9.2% for NOG).
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.
CRGY vs NOG: side by side
| CRGY (Crescent Energy Company) | NOG (Northern Oil and Gas, Inc.) | |
|---|---|---|
| 1-year return | +53.1% | +9.2% |
| 5-year return | -0.0% | +105.5% |
| Volatility (ann.) | 48.9% | 42.6% |
| Beta vs S&P 500 | 0.81 | 0.55 |
| Max drawdown (3Y) | -55.9% | -55.1% |
| Market cap | $5.4B | $2.8B |
| P/E (trailing) | 170.6 | – |
| Dividend yield | 3.59% | 6.92% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRGY | NOG |
|---|---|---|
| 2022 | -1.5% | +54.5% |
| 2023 | +15.6% | +25.5% |
| 2024 | +15.2% | +4.8% |
| 2025 | -39.6% | -38.2% |
| 2026 | +67.5% | +26.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRGY and NOG good diversifiers for each other?
No. With a correlation of 0.80, CRGY and NOG move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between CRGY and NOG?
The CRGY/NOG correlation stands at 0.80 on a 3-year window (1 year: 0.82, 5 years: 0.77), computed from weekly returns as of 2026-08-27.
Is NOG a good diversifier for CRGY?
No. With a correlation of 0.80, CRGY and NOG move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.80 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/crgy-vs-nog.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/crgy-vs-nog/)
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Related comparisons
Hubs: CRGY correlations · NOG correlations
