Northern Oil Correlations

NOG Stock  USD 27.68  0.29  1.04%   
The correlation of Northern Oil is a statistical measure of how it moves in relation to other equities. 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.
Check out Correlation Analysis. For more detail on how to invest in Northern Stock please use our How to Invest in Northern Oil guide.
  
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 Oil

+0.74AMPYAmplify Energy Corp Fiscal Quarter End 31st of March 2023 PairCorr
+0.61BATLBattalion Oil Corp Financial Report 8th of May 2023 PairCorr
+0.78BRYBerry Petroleum Corp Fiscal Quarter End 31st of March 2023 PairCorr
+0.68BSMBlack Stone Minerals Fiscal Quarter End 31st of March 2023 PairCorr
+0.76CHRDChord Energy Corp Symbol ChangePairCorr
+0.91CNQCanadian Natural Res Fiscal Quarter End 31st of March 2023 PairCorr

Related Correlations

ALPS
AMPY
AXAS
ALPS
0.250.38
ALPS
AMPY
0.250.32
AMPY
AXAS
0.380.32
AXAS
ALPS
AMPY
AXAS
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Correlation Matchups

The Correlation Coefficient is a useful tool to identify correlated or non-correlated securities, which is essential in developing a diversified portfolio. It tells us the relationship between two positions you have in your portfolio or considering acquiring. Over a given time period, the two securities movetogether when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.
High positive correlations   
AXASALPS
AXASAMPY
AMPYALPS
  

Risk-Adjusted Indicators

Nowadays, there is a big difference between Northern Stock performing well and Northern Oil company doing well compared to the competition. There are way too many exceptions to the normal that investors can tell for sure what's good or bad unless they analyze Northern Oil's multiple risk-adjusted performance indicators. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

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.

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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 GrabbIndependent DirectorProfile
Michael FrantzIndependent DirectorProfile
Lisa BromileyLead Independent DirectorProfile
Richard WeberIndependent DirectorProfile

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 Shape 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.
Check out Correlation Analysis. For more detail on how to invest in Northern Stock please use our How to Invest in Northern Oil guide. You can also try Bollinger Bands module to use Bollinger Bands indicator to analyze target price for a given investing horizon.

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When running Northern Oil Gas 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 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
(0.22) 
Dividend Share
0.88
Earnings Share
9.49
Revenue Per Share
23.265
Quarterly Revenue Growth
0.328
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 Northern Oil value 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.