Northern Oil Correlations
| NOG Stock | USD 42.97 0.14 0.32% |
The correlation of Northern Oil is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Northern Oil moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Northern Oil Gas moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Weak diversification
The correlation between Northern Oil Gas and NYA is 0.39 (i.e., Weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Northern Oil Gas and NYA in the same portfolio, assuming nothing else is changed.
Northern |
The ability to find closely correlated positions to Northern Oil could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Northern Oil when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Northern Oil - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Northern Oil Gas to buy it.
Moving together with Northern Stock
| 0.94 | AR | Antero Resources Corp Earnings Call Tomorrow | PairCorr |
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| 0.94 | SM | SM Energy Financial Report 25th of April 2024 | PairCorr |
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| 0.93 | VIST | Vista Oil Gas | PairCorr |
| 0.94 | VTLE | Vital Energy Financial Report 14th of May 2024 | PairCorr |
| 0.87 | EPSN | Epsilon Energy | PairCorr |
| 0.92 | FANG | Diamondback Energy Earnings Call This Week | PairCorr |
| 0.8 | APA | APA Corporation Earnings Call Next Week | PairCorr |
| 0.66 | BRN | Barnwell Industries | PairCorr |
| 0.98 | BRY | Berry Petroleum Corp Earnings Call This Week | PairCorr |
| 0.88 | BTE | Baytex Energy Corp Financial Report 2nd of May 2024 | PairCorr |
| 0.93 | CHK | Chesapeake Energy Corp Earnings Call This Week | PairCorr |
| 0.95 | CNQ | Canadian Natural Res Earnings Call Next Week | PairCorr |
Moving against Northern Stock
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Risk-Adjusted Indicators
There is a big difference between Northern Stock performing well and Northern Oil Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Northern Oil's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.| Mean Deviation | Jensen Alpha | Sortino Ratio | Treynor Ratio | Semi Deviation | Expected Shortfall | Potential Upside | Value @Risk | Maximum Drawdown | ||
|---|---|---|---|---|---|---|---|---|---|---|
| ESTE | 1.87 | 0.39 | 0.17 | 0.56 | 1.70 | 4.20 | 22.50 | |||
| VTLE | 1.57 | 0.34 | 0.21 | 0.35 | 1.44 | 3.78 | 8.00 | |||
| CRK | 1.82 | 0.24 | 0.12 | 0.33 | 1.87 | 3.59 | 14.69 | |||
| MGY | 0.99 | 0.41 | 0.28 | 2.01 | 0.71 | 2.28 | 7.16 | |||
| OBE | 1.65 | 0.41 | 0.19 | 1.99 | 1.40 | 3.64 | 8.38 | |||
| MTDR | 1.19 | 0.27 | 0.12 | 0.85 | 1.36 | 2.30 | 9.83 | |||
| MUR | 1.14 | 0.29 | 0.15 | 1.36 | 1.13 | 2.75 | 8.24 | |||
| CIVI | 1.21 | 0.12 | 0.08 | 0.20 | 1.41 | 2.98 | 7.41 | |||
| SBOW | 1.67 | 0.18 | 0.09 | 0.26 | 1.93 | 4.24 | 11.76 | |||
| CHRD | 0.94 | 0.26 | 0.17 | 0.50 | 0.90 | 1.93 | 6.95 |
Be your own money manager
Our tools can tell you how much better you can do entering a position in Northern Oil without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.Did you try this?
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Northern Oil Corporate Directors
Northern Oil corporate directors refer to members of a Northern Oil board of directors. The board of directors generally takes responsibility for the Northern Oil's affairs and long-term direction of the entity. A corporate director does not make decisions for the corporation on his own. As a member of the board of directors, she or he must function as a part of a group that makes decisions on behalf of the business only by the board of directors' meetings. To pass a resolution, a majority of Northern Oil's board members must vote for the resolution. The Northern Oil board of directors' duties also include the election, removal, and supervision of officers, including the adoption, amendment, and repeal of bylaws.| Robert Grabb | Independent Director | Profile | |
| Michael Frantz | Independent Director | Profile | |
| Lisa Bromiley | Lead Independent Director | Profile | |
| Richard Weber | Independent Director | Profile |
Already Invested in Northern Oil Gas?
The danger of trading Northern Oil Gas is mainly related to its market volatility and Company specific events. As an investor, you must understand the concept of risk-adjusted return before you start trading. The most common way to measure the risk of Northern Oil is by using the Sharpe ratio. The ratio expresses how much excess return you acquire for the extra volatility you endure for holding a more risker asset than Northern Oil. The Sharpe ratio is calculated by using standard deviation and excess return to determine reward per unit of risk. To understand how volatile Northern Oil Gas is, you must compare it to a benchmark. Traditionally, the risk-free rate of return is the rate of return on the shortest-dated U.S. Treasury, such as a 3-year bond.
When determining whether Northern Oil Gas is a strong investment it is important to analyze Northern Oil's competitive position within its industry, examining market share, product or service uniqueness, and competitive advantages. Beyond financials and market position, potential investors should also consider broader economic conditions, industry trends, and any regulatory or geopolitical factors that may impact Northern Oil's future performance. For an informed investment choice regarding Northern Stock, refer to the following important reports: Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Northern Oil Gas. Also, note that the market value of any company could be tightly coupled with the direction of predictive economic indicators such as signals in persons. You can also try the Sync Your Broker module to sync your existing holdings, watchlists, positions or portfolios from thousands of online brokerage services, banks, investment account aggregators and robo-advisors..
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When running Northern Oil's price analysis, check to measure Northern Oil's market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Northern Oil is operating at the current time. Most of Northern Oil's value examination focuses on studying past and present price action to predict the probability of Northern Oil's future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Northern Oil's price. Additionally, you may evaluate how the addition of Northern Oil to your portfolios can decrease your overall portfolio volatility.
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Is Northern Oil's industry expected to grow? Or is there an opportunity to expand the business' product line in the future? Factors like these will boost the valuation of Northern Oil. If investors know Northern will grow in the future, the company's valuation will be higher. The financial industry is built on trying to define current growth potential and future valuation accurately. All the valuation information about Northern Oil listed above have to be considered, but the key to understanding future value is determining which factors weigh more heavily than others.
Quarterly Earnings Growth 1.379 | Dividend Share 1.49 | Earnings Share 10.03 | Revenue Per Share 19.095 | Quarterly Revenue Growth 0.226 |
The market value of Northern Oil Gas is measured differently than its book value, which is the value of Northern that is recorded on the company's balance sheet. Investors also form their own opinion of Northern Oil's value that differs from its market value or its book value, called intrinsic value, which is Northern Oil's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because Northern Oil's market value can be influenced by many factors that don't directly affect Northern Oil's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between Northern Oil's value and its price as these two are different measures arrived at by different means. Investors typically determine if Northern Oil is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Northern Oil's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.