NOG vs PR: Correlation
Northern Oil and Gas, Inc. (NOG) and Permian Resources Corporation (PR) show a very strong relationship: their 3-year correlation of weekly returns is 0.82.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NOG and PR?
Across a 3-year window, the weekly returns of NOG and PR correlate at 0.82, very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.76) sits close to the 3-year figure. Stretching to 5 years gives 0.80, with an annualized covariance of 1231.7 %².
Few assets follow NOG as closely as PR, which ranks #3 of 26 tracked partners. Correlation aside, the last 12 months split them widely, with PR ahead by 61.1 points (+9.2% versus +70.3%).
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 PR: side by side
| NOG (Northern Oil and Gas, Inc.) | PR (Permian Resources Corporation) | |
|---|---|---|
| 1-year return | +9.2% | +70.3% |
| 5-year return | +105.5% | +430.6% |
| Volatility (ann.) | 42.6% | 35.4% |
| Beta vs S&P 500 | 0.55 | 0.39 |
| Max drawdown (3Y) | -55.1% | -39.9% |
| Market cap | $2.8B | $19.4B |
| P/E (trailing) | – | 14.7 |
| Dividend yield | 6.92% | 2.73% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NOG | PR |
|---|---|---|
| 2022 | +54.5% | +57.9% |
| 2023 | +25.5% | +49.4% |
| 2024 | +4.8% | +10.7% |
| 2025 | -38.2% | +1.9% |
| 2026 | +26.2% | +68.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NOG and PR good diversifiers for each other?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between NOG and PR?
The NOG/PR correlation stands at 0.82 on a 3-year window (1 year: 0.76, 5 years: 0.80), computed from weekly returns as of 2026-08-27.
Is PR a good diversifier for NOG?
Not really. At 0.82, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.82 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-pr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nog-vs-pr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NOG correlations · PR correlations
