NOG vs SD: Correlation
Northern Oil and Gas, Inc. (NOG) and SandRidge Energy, Inc. (SD) show a strong relationship: their 3-year correlation of weekly returns is 0.73.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NOG and SD?
Over the past 3 years, NOG and SD moved with a correlation of 0.73, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.62 versus 0.73 over 3 years. Over 5 years the correlation is 0.69, and the annualized covariance of weekly returns is 1028.2 %².
Among the 26 assets we track against NOG, SD ranks #9 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SD outperformed by 18.6 percentage points (+9.2% for NOG against +27.8% for SD).
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 SD: side by side
| NOG (Northern Oil and Gas, Inc.) | SD (SandRidge Energy, Inc.) | |
|---|---|---|
| 1-year return | +9.2% | +27.8% |
| 5-year return | +105.5% | +126.2% |
| Volatility (ann.) | 42.6% | 33.0% |
| Beta vs S&P 500 | 0.55 | 0.32 |
| Max drawdown (3Y) | -55.1% | -37.9% |
| Market cap | $2.8B | $0.5B |
| P/E (trailing) | – | 6.3 |
| Dividend yield | 6.92% | 3.52% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NOG | SD |
|---|---|---|
| 2022 | +54.5% | +62.8% |
| 2023 | +25.5% | -8.2% |
| 2024 | +4.8% | -1.2% |
| 2025 | -38.2% | +28.2% |
| 2026 | +26.2% | +1.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NOG and SD good diversifiers for each other?
Only partially. A correlation of 0.73 means NOG and SD 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 NOG and SD?
The NOG/SD correlation stands at 0.73 on a 3-year window (1 year: 0.62, 5 years: 0.69), computed from weekly returns as of 2026-08-27.
Is SD a good diversifier for NOG?
Only partially. A correlation of 0.73 means NOG and SD share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.73 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-sd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/nog-vs-sd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NOG correlations · SD correlations
