NOG vs PED: Correlation
Measured on weekly returns over the past three years, Northern Oil and Gas, Inc. (NOG) and Pedevco Corp. (PED) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NOG and PED?
On 3 years of weekly data the NOG/PED correlation comes out at 0.49, moderate. Little has changed lately, as the 1-year reading of 0.47 lands near the 3-year figure. The 5-year figure is 0.53, and annualized covariance runs at 1138.5 %².
By 3-year correlation, PED places #21 of the 26 assets tracked against NOG. Twelve-month performance is nearly a tie, at +9.2% for NOG and +13.1% for PED.
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.
NOG vs PED: side by side
| NOG (Northern Oil and Gas, Inc.) | PED (Pedevco Corp.) | |
|---|---|---|
| 1-year return | +9.2% | +13.1% |
| 5-year return | +105.5% | -39.7% |
| Volatility (ann.) | 42.6% | 54.0% |
| Beta vs S&P 500 | 0.55 | -0.28 |
| Max drawdown (3Y) | -55.1% | -58.3% |
| Market cap | $2.8B | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 6.92% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NOG | PED |
|---|---|---|
| 2022 | +54.5% | +3.8% |
| 2023 | +25.5% | -30.0% |
| 2024 | +4.8% | +1.0% |
| 2025 | -38.2% | -28.0% |
| 2026 | +26.2% | +19.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NOG and PED good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NOG and PED?
As of 2026-08-27, the correlation of weekly returns between NOG and PED is 0.49 over 3 years, 0.47 over 1 year and 0.53 over 5 years.
Is PED a good diversifier for NOG?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.49 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/nog-vs-ped.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nog-vs-ped/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NOG correlations · PED correlations
